Highest-paying Jobs in Indianapolis That Require a Graduate Degree

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Highest-paying jobs in Indianapolis 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 Indianapolis that require a graduate degree in Indianapolis. 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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#50. Mathematical science teachers, postsecondary

- Median annual wage: $78,000
- Median hourly wage: Not available
- Total employment: 150 people (0.14 of every 1,000 jobs in the area)

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#49. Chemistry teachers, postsecondary

- Median annual wage: $78,260
- Median hourly wage: Not available
- Total employment: 70 people (0.07 of every 1,000 jobs in the area)

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#48. Business teachers, postsecondary

- Median annual wage: $78,480
- Median hourly wage: Not available
- Total employment: 420 people (0.39 of every 1,000 jobs in the area)

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#47. History teachers, postsecondary

- Median annual wage: $79,140
- Median hourly wage: Not available
- Total employment: 70 people (0.07 of every 1,000 jobs in the area)

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#46. Political science teachers, postsecondary

- Median annual wage: $79,250
- Median hourly wage: Not available
- Total employment: 80 people (0.07 of every 1,000 jobs in the area)

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#45. Nursing instructors and teachers, postsecondary

- Median annual wage: $79,440
- Median hourly wage: Not available
- Total employment: 530 people (0.48 of every 1,000 jobs in the area)

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#44. Chiropractors

- Median annual wage: $79,540
- Median hourly wage: $38.24
- Total employment: 300 people (0.27 of every 1,000 jobs in the area)

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#43. Healthcare diagnosing or treating practitioners, all other

- Median annual wage: $80,540
- Median hourly wage: $38.72
- Total employment: 140 people (0.13 of every 1,000 jobs in the area)

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#42. Psychology teachers, postsecondary

- Median annual wage: $80,740
- Median hourly wage: Not available
- Total employment: 260 people (0.23 of every 1,000 jobs in the area)

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#41. Art, drama, and music teachers, postsecondary

- Median annual wage: $81,210
- Median hourly wage: Not available
- Total employment: 390 people (0.36 of every 1,000 jobs in the area)

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#40. Sociology teachers, postsecondary

- Median annual wage: $81,250
- Median hourly wage: Not available
- Total employment: 70 people (0.06 of every 1,000 jobs in the area)

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#39. Biological science teachers, postsecondary

- Median annual wage: $82,850
- Median hourly wage: Not available
- Total employment: 230 people (0.21 of every 1,000 jobs in the area)

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#38. Computer science teachers, postsecondary

- Median annual wage: $83,100
- Median hourly wage: Not available
- Total employment: 260 people (0.24 of every 1,000 jobs in the area)

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#37. Speech-language pathologists

- Median annual wage: $84,330
- Median hourly wage: $40.55
- Total employment: 1,340 people (1.22 of every 1,000 jobs in the area)

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#36. Computer and information research scientists

- Median annual wage: $85,420
- Median hourly wage: $41.07
- Total employment: 120 people (0.11 of every 1,000 jobs in the area)

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#35. Clinical and counseling psychologists

- Median annual wage: $86,380
- Median hourly wage: $41.53
- Total employment: 590 people (0.54 of every 1,000 jobs in the area)

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#34. Atmospheric, earth, marine, and space sciences teachers, postsecondary

- Median annual wage: $86,600
- Median hourly wage: Not available
- Total employment: 30 people (0.03 of every 1,000 jobs in the area)

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#33. Occupational therapists

- Median annual wage: $95,420
- Median hourly wage: $45.88
- Total employment: 1,490 people (1.36 of every 1,000 jobs in the area)

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#32. Education administrators, postsecondary

- Median annual wage: $96,480
- Median hourly wage: $46.38
- Total employment: 650 people (0.59 of every 1,000 jobs in the area)

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#31. Physical therapists

- Median annual wage: $99,930
- Median hourly wage: $48.05
- Total employment: 2,320 people (2.12 of every 1,000 jobs in the area)

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#30. Education administrators, kindergarten through secondary

- Median annual wage: $101,740
- Median hourly wage: Not available
- Total employment: 2,070 people (1.89 of every 1,000 jobs in the area)

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#29. Economics teachers, postsecondary

- Median annual wage: $102,260
- Median hourly wage: Not available
- Total employment: 30 people (0.03 of every 1,000 jobs in the area)

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#28. Engineering teachers, postsecondary

- Median annual wage: $102,550
- Median hourly wage: Not available
- Total employment: 260 people (0.24 of every 1,000 jobs in the area)

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Jacob Lund // Shutterstock

#27. Health specialties teachers, postsecondary

- Median annual wage: $103,000
- Median hourly wage: Not available
- Total employment: 2,890 people (2.64 of every 1,000 jobs in the area)

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#26. Economists

- Median annual wage: $114,070
- Median hourly wage: $54.84
- Total employment: 40 people (0.03 of every 1,000 jobs in the area)

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#25. Psychologists, all other

- Median annual wage: $116,980
- Median hourly wage: $56.24
- Total employment: 70 people (0.06 of every 1,000 jobs in the area)

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#24. Nurse midwives

- Median annual wage: $120,510
- Median hourly wage: $57.94
- Total employment: 60 people (0.06 of every 1,000 jobs in the area)

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#23. Statisticians

- Median annual wage: $123,100
- Median hourly wage: $59.19
- Total employment: 120 people (0.11 of every 1,000 jobs in the area)

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#22. Veterinarians

- Median annual wage: $126,490
- Median hourly wage: $60.81
- Total employment: 530 people (0.48 of every 1,000 jobs in the area)

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#21. Optometrists

- Median annual wage: $128,810
- Median hourly wage: $61.93
- Total employment: 270 people (0.25 of every 1,000 jobs in the area)

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#20. Law teachers, postsecondary

- Median annual wage: $129,880
- Median hourly wage: Not available
- Total employment: 110 people (0.1 of every 1,000 jobs in the area)

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#19. Physician assistants

- Median annual wage: $130,930
- Median hourly wage: $62.95
- Total employment: 640 people (0.59 of every 1,000 jobs in the area)

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#18. Nurse practitioners

- Median annual wage: $130,950
- Median hourly wage: $62.96
- Total employment: 2,800 people (2.55 of every 1,000 jobs in the area)

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#16. Lawyers (tie)

- Median annual wage: $135,660
- Median hourly wage: $65.22
- Total employment: 4,060 people (3.71 of every 1,000 jobs in the area)

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#16. Administrative law judges, adjudicators, and hearing officers (tie)

- Median annual wage: $135,660
- Median hourly wage: $65.22
- Total employment: 40 people (0.04 of every 1,000 jobs in the area)

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#15. Pharmacists

- Median annual wage: $139,640
- Median hourly wage: $67.14
- Total employment: 2,320 people (2.11 of every 1,000 jobs in the area)

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#14. Dentists, general

- Median annual wage: $161,730
- Median hourly wage: $77.75
- Total employment: 1,010 people (0.92 of every 1,000 jobs in the area)

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#13. Podiatrists

- Median annual wage: $175,510
- Median hourly wage: $84.38
- Total employment: 70 people (0.07 of every 1,000 jobs in the area)

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#12. Judges, magistrate judges, and magistrates

- Median annual wage: $177,180
- Median hourly wage: $85.18
- Total employment: 210 people (0.19 of every 1,000 jobs in the area)

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#11. Nurse anesthetists

- Median annual wage: $178,020
- Median hourly wage: $85.59
- Total employment: 120 people (0.1 of every 1,000 jobs in the area)

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#10. Pediatricians, general

- Median annual wage: $180,260
- Median hourly wage: $86.66
- Total employment: 540 people (0.49 of every 1,000 jobs in the area)

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#9. Orthodontists

- Median annual wage: $234,170
- Median hourly wage: $112.58
- Total employment: Not available

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#1. Physicians, all other (tie)

- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 2,160 people (1.97 of every 1,000 jobs in the area)