What Can I Do with a Master’s Degree?
The U.S. Bureau of Labor Statistics predicts more than 190,000 jobs will be created in the engineering field in the next decade. The number of individuals earning a bachelor of science in engineering is increasing. For example, between 2014–2015, the number of BS in engineering degrees increased by 7 percent. For this reason, a master’s degree may help you distinguish yourself and create new opportunities.
Statistics is the No.7 fastest growing field in the United States. A master’s degree in Applied Statistics from Michigan Tech will prepare you for high-demand, high-paying positions in statistics and data science.
Define Your Future
The specialized knowledge gained in an online STEM master’s program will position you for advanced roles in your respective professions. The U.S. Bureau of Labor Statistics identifies technical knowledge and conceptual understanding of industry best practices as strengths of managers and leaders. Professionals with a master’s degree are often responsible for leading projects, managing staff, and working with other departments in their organizations. Below is a list of job titles with a master’s degree may hold and their respective average salary expectations:
- Engineering Manager: $134,730 (U.S. Bureau of Labor Statistics)
- Civil Engineering Division/Department Manager: $112,091 (Payscale.com)
- Electrical Engineering Manager: $117,306 (Payscale.com)
- Quality Assurance Director: $113,459
- Research and Development Director: $131,576
- Data Scientist $139,840/yr (Glassdoor)
- Data Analyst $83,878/yr(Glassdoor)
- Statistician $93,589/yr(Glassdoor)
- Biostatistician $104,309/yr(Glassdoor)
A master’s degree may also increase earning potential. The salary range of a bachelor of science in engineering graduate is $60,000–$80,000 annually (Payscale). In comparison, a master of science in engineering graduate’s salary range is $75,000–$120,000 annually (Payscale.com).