The salary of a PhD holder in the US varies widely depending on the field of study, location, experience, and the specific job.
Factors Influencing PhD Salaries:
- Field of Study: PhDs in STEM fields (Science, Technology, Engineering, and Mathematics) generally earn higher salaries than those in humanities or social sciences.
- Location: Salaries tend to be higher in major metropolitan areas like New York City, San Francisco, and Boston.
- Experience: Entry-level positions for PhD holders will pay less than more senior roles.
- Industry: Some industries, such as pharmaceuticals or finance, offer higher salaries for PhD holders than others.
Average Salaries for PhD Holders:
According to the National Center for Education Statistics, the median annual salary for individuals with a doctorate degree in 2021 was $98,000.
Here are some examples of average salaries for PhD holders in specific fields:
- Computer Science: $120,000 - $150,000
- Engineering: $90,000 - $120,000
- Biotechnology: $80,000 - $110,000
- Economics: $85,000 - $115,000
- Psychology: $70,000 - $90,000
Other Considerations:
- Postdoctoral Positions: Many PhD holders pursue postdoctoral research positions after completing their degree, which typically pay less than full-time faculty positions.
- Teaching Positions: Salaries for college and university faculty vary widely depending on the institution, rank, and experience.
