Gorodenkoff // Shutterstock
1 / 50#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)
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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2 / 50#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)
Matej Kastelic // Shutterstock
3 / 50#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)
SeventyFour // Shutterstock
4 / 50#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)
Monkey Business Images // Shutterstock
5 / 50#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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Gorodenkoff // Shutterstock
6 / 50#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)
KSai23 // Shutterstock
7 / 50#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)
BlurryMe // Shutterstock
8 / 50#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)
Jacob Lund // Shutterstock
9 / 50#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)
Pressmaster // Shutterstock
10 / 50#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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Lucky Business // Shutterstock
11 / 50#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)
Jacob Lund // Shutterstock
12 / 50#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)
Gorodenkoff // Shutterstock
13 / 50#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)
ABO PHOTOGRAPHY / Shutterstock
14 / 50#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)
Gorodenkoff // Shutterstock
15 / 50#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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fizkes // Shutterstock
16 / 50#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)
ESB Professional // Shutterstock
17 / 50#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)
ABO PHOTOGRAPHY // Shutterstock
18 / 50#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)
Jacob Lund // Shutterstock
19 / 50#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)
Aykut Erdogdu // Shutterstock
20 / 50#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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Krakenimages.com // Shutterstock
21 / 50#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)
Syda Productions // Shutterstock
22 / 50#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)
GaudiLab // Shutterstock
23 / 50#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)
Jacob Lund // Shutterstock
24 / 50#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)
Petekub // Shutterstock
25 / 50#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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wavebreakmedia // Shutterstock
26 / 50#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)
antoniodiaz // Shutterstock
27 / 50#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)
Pheelings media // Shutterstock
28 / 50#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)
Zivica Kerkez // Shutterstock
29 / 50#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)
Kzenon // Shutterstock
30 / 50#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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Ground Picture // Shutterstock
31 / 50#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)
Stokkete // Shutterstock
32 / 50#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)
Monkey Business Images // Shutterstock
33 / 50#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)
Nicola Forenza // Shutterstock
34 / 50#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)
Worawee Meepian // Shutterstock
35 / 50#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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Drazen Zigic // Shutterstock
36 / 50#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)
Prostock-studio // Shutterstock
37 / 50#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)
Elnur // Shutterstock
38 / 50#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)
Sebastian Duda // Shutterstock
39 / 50#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)
LightField Studios // Shutterstock
40 / 50#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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Jacob Lund // Shutterstock
41 / 50#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)
Prostock-studio // Shutterstock
42 / 50#9. Orthodontists
- Median annual wage: $234,170
- Median hourly wage: $112.58
- Total employment: Not available
wutzkohphoto // Shutterstock
43 / 50#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)
Natee K Jindakum // Shutterstock
44 / 50#1. Physicians, pathologists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 170 people (0.16 of every 1,000 jobs in the area)
BlurryMe // Shutterstock
45 / 50#1. General internal medicine physicians (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 750 people (0.69 of every 1,000 jobs in the area)
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Photoroyalty // Shutterstock
46 / 50#1. Surgeons, all other (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 350 people (0.32 of every 1,000 jobs in the area)
4 PM production // Shutterstock
47 / 50#1. Ophthalmologists, except pediatric (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 50 people (0.05 of every 1,000 jobs in the area)
Roman Zaiets // Shutterstock
48 / 50#1. Orthopedic surgeons, except pediatric (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: Not available
PeopleImages.com - Yuri A // Shutterstock
49 / 50#1. Family medicine physicians (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 850 people (0.77 of every 1,000 jobs in the area)
Monkey Business Images // Shutterstock
50 / 50#1. Anesthesiologists (tie)
- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 390 people (0.36 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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