Monkey Business Images // Shutterstock
1 / 50#50. Political science teachers, postsecondary
- Median annual wage: $93,930
- Median hourly wage: Not available
- Total employment: 290 people (0.06 of every 1,000 jobs in the area)
Highest-paying jobs in Chicago that require a graduate degree
Earning top dollar often requires more education than an undergraduate degree. Of course, doctors, lawyers, and professors all need extra years of focused study in their respective fields, but they're not alone. Graduate degrees in industries like business, engineering, and mathematics build specialized knowledge that can fast-track one's career—and salary.
In 2024, master's degree holders earned a weekly median of $1,840, a 19% premium over undergraduate degree holders. Meanwhile, doctorates earned $2,278, and professional degree holders earned $2,363.
However, wages can vary widely by occupation. Stacker used Bureau of Labor Statistics data to find the highest-paying jobs in Chicago that require a graduate degree in Chicago. This includes doctorates, master's degrees, and professional degrees. Jobs are ranked by their median annual pay as of May 2024, so any jobs without annual compensation figures available were excluded from this analysis.
Beyond offering higher pay, a master's degree may also provide greater job security. The unemployment rate for a master's degree holder was 2.2% in 2024, compared to 2.5% for undergraduate degree holders. Unemployment is close to 1% among those with doctorates and professional degrees.
According to a May 2025 report from ResumeGenius, many employers believe a graduate degree showcases an employee's drive and commitment, leading to better job prospects. But that comes at a price. Between 2000 and 2020, median annual tuition and fees for graduate degree programs increased by 233%. Unsurprisingly, median cumulative grad school debt also increased, rising 47% to $50,000.
Depending on the career field, the expense may be difficult to justify. Georgetown University's Center on Education and the Workforce found that full-time workers with graduate degrees in STEM fields earned $128,000 annually, almost twice as much as their counterparts in humanities and the arts. Meanwhile, a humanities graduate degree brought only 10% more earnings than a bachelor's degree.
Keep reading to find out how much graduate degree holders can earn in different roles.
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2 / 50#49. Chemistry teachers, postsecondary
- Median annual wage: $94,200
- Median hourly wage: Not available
- Total employment: 690 people (0.15 of every 1,000 jobs in the area)
Jacob Lund // Shutterstock
3 / 50#48. Anthropology and archeology teachers, postsecondary
- Median annual wage: $97,660
- Median hourly wage: Not available
- Total employment: 80 people (0.02 of every 1,000 jobs in the area)
fizkes // Shutterstock
4 / 50#47. Clinical and counseling psychologists
- Median annual wage: $98,240
- Median hourly wage: $47.23
- Total employment: 2,980 people (0.67 of every 1,000 jobs in the area)
Desizned // Shutterstock
5 / 50#46. Political scientists
- Median annual wage: $98,300
- Median hourly wage: $47.26
- Total employment: 90 people (0.02 of every 1,000 jobs in the area)
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6 / 50#45. Survey researchers
- Median annual wage: $98,510
- Median hourly wage: $47.36
- Total employment: 240 people (0.05 of every 1,000 jobs in the area)
Monkey Business Images // Shutterstock
7 / 50#44. Area, ethnic, and cultural studies teachers, postsecondary
- Median annual wage: $98,750
- Median hourly wage: Not available
- Total employment: 90 people (0.02 of every 1,000 jobs in the area)
GagliardiPhotography // Shutterstock
8 / 50#43. Geography teachers, postsecondary
- Median annual wage: $98,880
- Median hourly wage: Not available
- Total employment: 90 people (0.02 of every 1,000 jobs in the area)
Jacob Lund // Shutterstock
9 / 50#42. Education administrators, postsecondary
- Median annual wage: $99,260
- Median hourly wage: $47.72
- Total employment: 6,340 people (1.42 of every 1,000 jobs in the area)
Jacob Lund // Shutterstock
10 / 50#41. Architecture teachers, postsecondary
- Median annual wage: $99,320
- Median hourly wage: Not available
- Total employment: 80 people (0.02 of every 1,000 jobs in the area)
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Jacob Lund // Shutterstock
11 / 50#40. Health specialties teachers, postsecondary
- Median annual wage: $99,360
- Median hourly wage: Not available
- Total employment: 6,610 people (1.48 of every 1,000 jobs in the area)
Gorodenkoff // Shutterstock
12 / 50#39. Epidemiologists
- Median annual wage: $100,200
- Median hourly wage: $48.17
- Total employment: 180 people (0.04 of every 1,000 jobs in the area)
Thanakorn.P // Shutterstock
13 / 50#38. Agricultural sciences teachers, postsecondary
- Median annual wage: $100,210
- Median hourly wage: Not available
- Total employment: 50 people (0.01 of every 1,000 jobs in the area)
ABO PHOTOGRAPHY // Shutterstock
14 / 50#37. Occupational therapists
- Median annual wage: $100,940
- Median hourly wage: $48.53
- Total employment: 5,890 people (1.32 of every 1,000 jobs in the area)
Aykut Erdogdu // Shutterstock
15 / 50#36. Physical therapists
- Median annual wage: $104,200
- Median hourly wage: $50.10
- Total employment: 8,360 people (1.87 of every 1,000 jobs in the area)
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Natee K Jindakum // Shutterstock
16 / 50#35. Physicians, pathologists
- Median annual wage: $106,270
- Median hourly wage: $51.09
- Total employment: 220 people (0.05 of every 1,000 jobs in the area)
antoniodiaz // Shutterstock
17 / 50#34. Nurse midwives
- Median annual wage: $110,090
- Median hourly wage: $52.93
- Total employment: 200 people (0.04 of every 1,000 jobs in the area)
GaudiLab // Shutterstock
18 / 50#33. Engineering teachers, postsecondary
- Median annual wage: $111,300
- Median hourly wage: Not available
- Total employment: 590 people (0.13 of every 1,000 jobs in the area)
Pheelings media // Shutterstock
19 / 50#32. Statisticians
- Median annual wage: $119,200
- Median hourly wage: $57.31
- Total employment: 370 people (0.08 of every 1,000 jobs in the area)
Worawee Meepian // Shutterstock
20 / 50#31. Administrative law judges, adjudicators, and hearing officers
- Median annual wage: $119,380
- Median hourly wage: $57.40
- Total employment: 340 people (0.08 of every 1,000 jobs in the area)
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Stokkete // Shutterstock
21 / 50#30. Physician assistants
- Median annual wage: $122,990
- Median hourly wage: $59.13
- Total employment: 3,180 people (0.71 of every 1,000 jobs in the area)
Petekub // Shutterstock
22 / 50#29. Economists
- Median annual wage: $123,140
- Median hourly wage: $59.20
- Total employment: 470 people (0.1 of every 1,000 jobs in the area)
Syda Productions // Shutterstock
23 / 50#28. Economics teachers, postsecondary
- Median annual wage: $124,770
- Median hourly wage: Not available
- Total employment: 330 people (0.07 of every 1,000 jobs in the area)
Krakenimages.com // Shutterstock
24 / 50#27. Education administrators, kindergarten through secondary
- Median annual wage: $126,800
- Median hourly wage: Not available
- Total employment: 11,080 people (2.48 of every 1,000 jobs in the area)
Kenishirotie //Shutterstock
25 / 50#26. Mathematicians
- Median annual wage: $127,290
- Median hourly wage: $61.20
- Total employment: 60 people (0.01 of every 1,000 jobs in the area)
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indukas // Shutterstock
26 / 50#25. Physicists
- Median annual wage: $131,260
- Median hourly wage: $63.11
- Total employment: 1,580 people (0.35 of every 1,000 jobs in the area)
Monkey Business Images // Shutterstock
27 / 50#24. Nurse practitioners
- Median annual wage: $131,690
- Median hourly wage: $63.31
- Total employment: 6,930 people (1.55 of every 1,000 jobs in the area)
Zivica Kerkez // Shutterstock
28 / 50#23. Veterinarians
- Median annual wage: $134,430
- Median hourly wage: $64.63
- Total employment: 2,070 people (0.46 of every 1,000 jobs in the area)
Aodaodaodaod // Shutterstock
29 / 50#22. Sociologists
- Median annual wage: $134,730
- Median hourly wage: $64.78
- Total employment: Not available
Gorodenkoff // Shutterstock
30 / 50#21. Computer and information research scientists
- Median annual wage: $135,120
- Median hourly wage: $64.96
- Total employment: 230 people (0.05 of every 1,000 jobs in the area)
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Drazen Zigic // Shutterstock
31 / 50#20. Pharmacists
- Median annual wage: $137,610
- Median hourly wage: $66.16
- Total employment: 9,630 people (2.15 of every 1,000 jobs in the area)
Kzenon // Shutterstock
32 / 50#19. Optometrists
- Median annual wage: $138,510
- Median hourly wage: $66.59
- Total employment: 1,280 people (0.29 of every 1,000 jobs in the area)
Sebastian Duda // Shutterstock
33 / 50#18. Judges, magistrate judges, and magistrates
- Median annual wage: $141,740
- Median hourly wage: $68.15
- Total employment: 90 people (0.02 of every 1,000 jobs in the area)
Nicola Forenza // Shutterstock
34 / 50#17. Lawyers
- Median annual wage: $166,090
- Median hourly wage: $79.85
- Total employment: 28,380 people (6.34 of every 1,000 jobs in the area)
Prostock-studio // Shutterstock
35 / 50#16. Dentists, general
- Median annual wage: $175,140
- Median hourly wage: $84.20
- Total employment: 3,980 people (0.89 of every 1,000 jobs in the area)
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PeopleImages.com - Yuri A // Shutterstock
36 / 50#15. Family medicine physicians
- Median annual wage: $182,830
- Median hourly wage: $87.90
- Total employment: 1,200 people (0.27 of every 1,000 jobs in the area)
Jacob Lund // Shutterstock
37 / 50#14. Pediatricians, general
- Median annual wage: $198,440
- Median hourly wage: $95.40
- Total employment: 1,120 people (0.25 of every 1,000 jobs in the area)
wutzkohphoto // Shutterstock
38 / 50#13. Physicians, all other
- Median annual wage: $215,680
- Median hourly wage: $103.69
- Total employment: 14,850 people (3.32 of every 1,000 jobs in the area)
Prostock-studio // Shutterstock
39 / 50#12. Dentists, all other specialists
- Median annual wage: $221,790
- Median hourly wage: $106.63
- Total employment: 80 people (0.02 of every 1,000 jobs in the area)
BlurryMe // Shutterstock
40 / 50#11. General internal medicine physicians
- Median annual wage: $234,440
- Median hourly wage: $112.71
- Total employment: 1,420 people (0.32 of every 1,000 jobs in the area)
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41 / 50#1. Ophthalmologists, except pediatric (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 490 people (0.11 of every 1,000 jobs in the area)
Dmytro Zinkevych // Shutterstock
42 / 50#1. Dermatologists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: Not available
Djols // Shutterstock
43 / 50#1. Emergency medicine physicians (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 1,390 people (0.31 of every 1,000 jobs in the area)
Photoroyalty // Shutterstock
44 / 50#1. Surgeons, all other (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 640 people (0.14 of every 1,000 jobs in the area)
Monkey Business Images // Shutterstock
45 / 50#1. Anesthesiologists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 1,020 people (0.23 of every 1,000 jobs in the area)
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46 / 50#1. Neurologists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 250 people (0.06 of every 1,000 jobs in the area)
Jacob Lund // Shutterstock
47 / 50#1. Obstetricians and gynecologists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 560 people (0.12 of every 1,000 jobs in the area)
LightField Studios // Shutterstock
48 / 50#1. Nurse anesthetists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 700 people (0.16 of every 1,000 jobs in the area)
Komsan Loonprom // Shutterstock
49 / 50#1. Cardiologists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: Not available
LightField Studios // Shutterstock
50 / 50#1. Psychiatrists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 510 people (0.11 of every 1,000 jobs in the area)
This story features data reporting by Wade Zhou, writing by Jill Jaracz, and is part of a series utilizing data automation across 364 metros.
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