Education pays.
At least, that's what Bureau of Labor Statistics data shows. Higher degree holders earn more and experience lower unemployment rates than those without degrees or with lesser degrees. On a weekly basis, master's degree holders earn over $500 more than the median for all U.S. workers over age 25, and doctoral degree holders earn about $850 more than that median. Professional degree holders like doctors, lawyers, and veterinarians earn even more, at nearly $870 more than the median.
However, advanced degrees often cost significant funds to obtain. A year of graduate tuition and fees cost about $19,750 for the 2020-21 academic year, according to the National Center for Education Statistics. The average at private institutions was even more, at $26,620 per year. Some programs offer assistantships or fellowships that offset those costs, but many students will be on the hook for paying or borrowing tens or hundreds of thousands of dollars.
Other data from the center, released in July 2023, shows that nearly 3 in 4 graduate students received financial aid in the 2019-20 academic year, in amounts averaging about $25,300.
The catch? Much of the aid doled out to graduate students is in loans. Graduate students who took out loans averaged $26,000, compared to an average of $11,300 in grant funds among recipients. A Center for American Progress analysis found that graduate debt rose from 2010-11 to 2017-18 while undergraduate debt fell, and the share of student debt accumulated by graduate students rose to 40%.
Is the higher pay worth the cost? That's up to prospective graduate students to decide. Using Bureau of Labor Statistics data, Stacker compiled a list of the highest-paying jobs that require a graduate degree in San Francisco, painting a clearer picture of the earnings potential. Jobs listed here require a master's, doctorate, or other professional degree and are ranked by their median annual pay as of May 2022. Any jobs without annual compensation figures available were excluded from this analysis.
Read on to see what a graduate degree could earn you in San Francisco.
This story features data reporting and writing by Paxtyn Merten and is part of a series utilizing data automation across 366 metros.
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1 / 50- Median annual wage: $119,910
- Median hourly wage: $57.65
- Education required: Master's degree
- Total employment: 170 people (0.07 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Canva
2 / 50- Median annual wage: $120,130
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 130 people (0.06 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Monkey Business Images // Shutterstock
3 / 50- Median annual wage: $120,360
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 70 people (0.03 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Chad McDermott // Shutterstock
4 / 50- Median annual wage: $122,240
- Median hourly wage: $58.77
- Education required: Master's degree
- Total employment: 1,230 people (0.52 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
ABO PHOTOGRAPHY // Shutterstock
5 / 50- Median annual wage: $122,720
- Median hourly wage: $59.00
- Education required: Master's degree
- Total employment: 1,540 people (0.64 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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Canva
6 / 50- Median annual wage: $122,890
- Median hourly wage: $59.08
- Education required: Master's degree
- Total employment: 2,290 people (0.96 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
Aykut Erdogdu // Shutterstock
7 / 50- Median annual wage: $124,500
- Median hourly wage: $59.86
- Education required: Doctoral or professional degree
- Total employment: 3,340 people (1.39 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Lucky Business // Shutterstock
8 / 50- Median annual wage: $124,520
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 220 people (0.09 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Jacob Lund // Shutterstock
9 / 50- Median annual wage: $126,220
- Median hourly wage: $60.68
- Education required: Master's degree
- Total employment: Not available
- Required on-the-job training to attain competency: None
Jacob Lund // Shutterstock
10 / 50- Median annual wage: $126,510
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 90 people (0.04 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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Gorodenkoff // Shutterstock
11 / 50- Median annual wage: $126,650
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 230 people (0.1 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Jacob Lund // Shutterstock
12 / 50- Median annual wage: $126,900
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 30 people (0.01 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Agenturfotografin // Shutterstock
13 / 50- Median annual wage: $126,940
- Median hourly wage: $61.03
- Education required: Master's degree
- Total employment: 60 people (0.03 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Matej Kastelic // Shutterstock
14 / 50- Median annual wage: $127,130
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 520 people (0.22 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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15 / 50- Median annual wage: $127,610
- Median hourly wage: $61.35
- Education required: Doctoral or professional degree
- Total employment: 180 people (0.08 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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Canva
16 / 50- Median annual wage: $127,760
- Median hourly wage: $61.43
- Education required: Doctoral or professional degree
- Total employment: 990 people (0.42 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Jacob Lund // Shutterstock
17 / 50- Median annual wage: $128,320
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 390 people (0.16 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Diego Cervo // Shutterstock
18 / 50- Median annual wage: $130,160
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 240 people (0.1 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Syda Productions // Shutterstock
19 / 50- Median annual wage: $130,570
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 80 people (0.04 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Photoroyalty // Shutterstock
20 / 50- Median annual wage: $131,830
- Median hourly wage: $63.38
- Education required: Doctoral or professional degree
- Total employment: Not available
- Required on-the-job training to attain competency: Internship/residency
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luchschenF // Shutterstock
21 / 50- Median annual wage: $131,940
- Median hourly wage: $63.43
- Education required: Doctoral or professional degree
- Total employment: 3,660 people (1.53 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Canva
22 / 50- Median annual wage: $133,330
- Median hourly wage: Not available
- Education required: Master's degree
- Total employment: 3,110 people (1.3 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
fizkes // Shutterstock
23 / 50- Median annual wage: $133,490
- Median hourly wage: $64.18
- Education required: Doctoral or professional degree
- Total employment: 1,520 people (0.64 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
Gorodenkoff // Shutterstock
24 / 50- Median annual wage: $134,650
- Median hourly wage: $64.74
- Education required: Doctoral or professional degree
- Total employment: 4,960 people (2.07 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Kzenon // Shutterstock
25 / 50- Median annual wage: $137,250
- Median hourly wage: $65.99
- Education required: Doctoral or professional degree
- Total employment: 1,070 people (0.45 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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ESB Professional // Shutterstock
26 / 50- Median annual wage: $138,600
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 110 people (0.04 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Petekub // Shutterstock
27 / 50- Median annual wage: $139,730
- Median hourly wage: $67.18
- Education required: Master's degree
- Total employment: 280 people (0.12 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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28 / 50- Median annual wage: $141,940
- Median hourly wage: $68.24
- Education required: Master's degree
- Total employment: 100 people (0.04 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Worawee Meepian // Shutterstock
29 / 50- Median annual wage: $146,830
- Median hourly wage: $70.59
- Education required: Doctoral or professional degree
- Total employment: 290 people (0.12 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Short-term on-the-job training
Jacob Lund // Shutterstock
30 / 50- Median annual wage: $149,360
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 160 people (0.07 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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31 / 50- Median annual wage: $150,970
- Median hourly wage: $72.58
- Education required: Master's degree
- Total employment: 240 people (0.1 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
GaudiLab // Shutterstock
32 / 50- Median annual wage: $152,620
- Median hourly wage: Not available
- Education required: Doctoral or professional degree
- Total employment: 250 people (0.1 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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33 / 50- Median annual wage: $158,550
- Median hourly wage: $76.23
- Education required: Master's degree
- Total employment: 930 people (0.39 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Stokkete // Shutterstock
34 / 50- Median annual wage: $161,680
- Median hourly wage: $77.73
- Education required: Master's degree
- Total employment: 2,120 people (0.88 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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35 / 50- Median annual wage: $175,980
- Median hourly wage: $84.61
- Education required: Doctoral or professional degree
- Total employment: 4,370 people (1.83 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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Canva
36 / 50- Median annual wage: $177,030
- Median hourly wage: $85.11
- Education required: Doctoral or professional degree
- Total employment: 1,600 people (0.67 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
antoniodiaz // Shutterstock
37 / 50- Median annual wage: $191,170
- Median hourly wage: $91.91
- Education required: Master's degree
- Total employment: 180 people (0.08 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Monkey Business Images // Shutterstock
38 / 50- Median annual wage: $192,720
- Median hourly wage: $92.66
- Education required: Master's degree
- Total employment: 2,680 people (1.12 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Canva
39 / 50- Median annual wage: $200,710
- Median hourly wage: $96.49
- Education required: Doctoral or professional degree
- Total employment: 80 people (0.03 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
Canva
40 / 50- Median annual wage: $213,560
- Median hourly wage: $102.67
- Education required: Doctoral or professional degree
- Total employment: 17,110 people (7.15 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
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Gorodenkoff // Shutterstock
41 / 50- Median annual wage: $214,190
- Median hourly wage: $102.98
- Education required: Master's degree
- Total employment: 2,250 people (0.94 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: None
Sebastian Duda // Shutterstock
42 / 50- Median annual wage: $214,320
- Median hourly wage: $103.04
- Education required: Doctoral or professional degree
- Total employment: 380 people (0.16 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Short-term on-the-job training
wutzkohphoto // Shutterstock
43 / 50- Median annual wage: $222,860
- Median hourly wage: $107.15
- Education required: Doctoral or professional degree
- Total employment: 2,950 people (1.23 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
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44 / 50- Median annual wage: $235,120
- Median hourly wage: $113.04
- Education required: Master's degree
- Total employment: Not available
- Required on-the-job training to attain competency: None
Dmytro Zinkevych // Shutterstock
45 / 50- Median annual wage: Exact median salary unknown; at least $239,200 per year or $115 per hour
- Education required: Doctoral or professional degree
- Total employment: Not available
- Required on-the-job training to attain competency: Internship/residency
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Canva
46 / 50- Median annual wage: Exact median salary unknown; at least $239,200 per year or $115 per hour
- Education required: Doctoral or professional degree
- Total employment: 1,750 people (0.73 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
Canva
47 / 50- Median annual wage: Exact median salary unknown; at least $239,200 per year or $115 per hour
- Education required: Doctoral or professional degree
- Total employment: Not available
- Required on-the-job training to attain competency: Internship/residency
Canva
48 / 50- Median annual wage: Exact median salary unknown; at least $239,200 per year or $115 per hour
- Education required: Doctoral or professional degree
- Total employment: 190 people (0.08 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
LightField Studios // Shutterstock
49 / 50- Median annual wage: Exact median salary unknown; at least $239,200 per year or $115 per hour
- Education required: Doctoral or professional degree
- Total employment: 720 people (0.3 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
Roman Zaiets // Shutterstock
50 / 50- Median annual wage: Exact median salary unknown; at least $239,200 per year or $115 per hour
- Education required: Doctoral or professional degree
- Total employment: 570 people (0.24 of every 1,000 jobs in the area)
- Required on-the-job training to attain competency: Internship/residency
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