Highest-paying jobs in Memphis that require a graduate degree

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June 6, 2025
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Highest-paying jobs in Memphis 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 Memphis that require a graduate degree in Memphis. 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. Art, drama, and music teachers, postsecondary

- Median annual wage: $65,430
- Median hourly wage: Not available
- Total employment: 250 people (0.4 of every 1,000 jobs in the area)

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#49. Sociology teachers, postsecondary

- Median annual wage: $65,530
- Median hourly wage: Not available
- Total employment: 30 people (0.05 of every 1,000 jobs in the area)

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DGLimages // Shutterstock

#48. Healthcare social workers

- Median annual wage: $67,290
- Median hourly wage: $32.35
- Total employment: 1,040 people (1.68 of every 1,000 jobs in the area)

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VH-studio // Shutterstock

#47. Educational, guidance, and career counselors and advisors

- Median annual wage: $67,310
- Median hourly wage: $32.36
- Total employment: 1,200 people (1.93 of every 1,000 jobs in the area)

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Drazen Zigic // Shutterstock

#46. Education teachers, postsecondary

- Median annual wage: $67,370
- Median hourly wage: Not available
- Total employment: 90 people (0.14 of every 1,000 jobs in the area)

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#45. English language and literature teachers, postsecondary

- Median annual wage: $67,980
- Median hourly wage: Not available
- Total employment: 160 people (0.26 of every 1,000 jobs in the area)

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Pheelings media // Shutterstock

#44. Statisticians

- Median annual wage: $68,870
- Median hourly wage: $33.11
- Total employment: 200 people (0.32 of every 1,000 jobs in the area)

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voronaman // Shutterstock

#43. Philosophy and religion teachers, postsecondary

- Median annual wage: $71,710
- Median hourly wage: Not available
- Total employment: 80 people (0.14 of every 1,000 jobs in the area)

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Gorodenkoff // Shutterstock

#42. Mathematical science teachers, postsecondary

- Median annual wage: $74,380
- Median hourly wage: Not available
- Total employment: 120 people (0.19 of every 1,000 jobs in the area)

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Jacob Lund // Shutterstock

#41. Biological science teachers, postsecondary

- Median annual wage: $74,740
- Median hourly wage: Not available
- Total employment: 110 people (0.18 of every 1,000 jobs in the area)

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#40. Chiropractors

- Median annual wage: $75,730
- Median hourly wage: $36.41
- Total employment: 70 people (0.11 of every 1,000 jobs in the area)

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#39. History teachers, postsecondary

- Median annual wage: $76,660
- Median hourly wage: Not available
- Total employment: 90 people (0.14 of every 1,000 jobs in the area)

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Gorodenkoff // Shutterstock

#38. Nursing instructors and teachers, postsecondary

- Median annual wage: $77,060
- Median hourly wage: Not available
- Total employment: 380 people (0.61 of every 1,000 jobs in the area)

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Jacob Lund // Shutterstock

#37. Physics teachers, postsecondary

- Median annual wage: $78,370
- Median hourly wage: Not available
- Total employment: 30 people (0.05 of every 1,000 jobs in the area)

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Jacob Lund // Shutterstock

#36. Psychology teachers, postsecondary

- Median annual wage: $78,520
- Median hourly wage: Not available
- Total employment: 90 people (0.14 of every 1,000 jobs in the area)

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Diego Cervo // Shutterstock

#35. Criminal justice and law enforcement teachers, postsecondary

- Median annual wage: $78,630
- Median hourly wage: Not available
- Total employment: 30 people (0.05 of every 1,000 jobs in the area)

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VH-studio // Shutterstock

#34. School psychologists

- Median annual wage: $79,830
- Median hourly wage: $38.38
- Total employment: 130 people (0.21 of every 1,000 jobs in the area)

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Gorodenkoff // Shutterstock

#33. Medical scientists, except epidemiologists

- Median annual wage: $80,370
- Median hourly wage: $38.64
- Total employment: Not available

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#32. Chemistry teachers, postsecondary

- Median annual wage: $81,320
- Median hourly wage: Not available
- Total employment: 50 people (0.08 of every 1,000 jobs in the area)

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#31. Orthotists and prosthetists

- Median annual wage: $82,600
- Median hourly wage: $39.71
- Total employment: 40 people (0.06 of every 1,000 jobs in the area)

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#30. Audiologists

- Median annual wage: $85,640
- Median hourly wage: $41.17
- Total employment: 50 people (0.08 of every 1,000 jobs in the area)

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#29. Clinical and counseling psychologists

- Median annual wage: $88,660
- Median hourly wage: $42.63
- Total employment: 110 people (0.18 of every 1,000 jobs in the area)

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#28. Speech-language pathologists

- Median annual wage: $89,860
- Median hourly wage: $43.20
- Total employment: 470 people (0.77 of every 1,000 jobs in the area)

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Gorodenkoff // Shutterstock

#27. Computer science teachers, postsecondary

- Median annual wage: $92,180
- Median hourly wage: Not available
- Total employment: 100 people (0.16 of every 1,000 jobs in the area)

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#26. Business teachers, postsecondary

- Median annual wage: $93,650
- Median hourly wage: Not available
- Total employment: 150 people (0.24 of every 1,000 jobs in the area)

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ABO PHOTOGRAPHY // Shutterstock

#25. Occupational therapists

- Median annual wage: $98,500
- Median hourly wage: $47.36
- Total employment: 500 people (0.81 of every 1,000 jobs in the area)

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Jacob Lund // Shutterstock

#24. Education administrators, postsecondary

- Median annual wage: $101,110
- Median hourly wage: $48.61
- Total employment: 370 people (0.59 of every 1,000 jobs in the area)

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#23. Physical therapists

- Median annual wage: $101,360
- Median hourly wage: $48.73
- Total employment: 750 people (1.21 of every 1,000 jobs in the area)

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#22. Law teachers, postsecondary

- Median annual wage: $102,320
- Median hourly wage: Not available
- Total employment: 40 people (0.06 of every 1,000 jobs in the area)

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#21. Engineering teachers, postsecondary

- Median annual wage: $103,110
- Median hourly wage: Not available
- Total employment: 70 people (0.11 of every 1,000 jobs in the area)

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Krakenimages.com // Shutterstock

#20. Education administrators, kindergarten through secondary

- Median annual wage: $103,680
- Median hourly wage: Not available
- Total employment: 1,290 people (2.08 of every 1,000 jobs in the area)

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Worawee Meepian // Shutterstock

#19. Administrative law judges, adjudicators, and hearing officers

- Median annual wage: $104,330
- Median hourly wage: $50.16
- Total employment: 80 people (0.14 of every 1,000 jobs in the area)

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Sebastian Duda // Shutterstock

#18. Judges, magistrate judges, and magistrates

- Median annual wage: $106,070
- Median hourly wage: $51.00
- Total employment: 130 people (0.22 of every 1,000 jobs in the area)

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Jacob Lund // Shutterstock

#17. Health specialties teachers, postsecondary

- Median annual wage: $106,440
- Median hourly wage: Not available
- Total employment: 1,370 people (2.21 of every 1,000 jobs in the area)

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#16. Optometrists

- Median annual wage: $113,030
- Median hourly wage: $54.34
- Total employment: 100 people (0.17 of every 1,000 jobs in the area)

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#15. Nurse practitioners

- Median annual wage: $116,860
- Median hourly wage: $56.18
- Total employment: 2,190 people (3.53 of every 1,000 jobs in the area)

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#14. Lawyers

- Median annual wage: $121,510
- Median hourly wage: $58.42
- Total employment: 1,740 people (2.81 of every 1,000 jobs in the area)

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Zivica Kerkez // Shutterstock

#13. Veterinarians

- Median annual wage: $123,780
- Median hourly wage: $59.51
- Total employment: 310 people (0.5 of every 1,000 jobs in the area)

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Stokkete // Shutterstock

#12. Physician assistants

- Median annual wage: $124,260
- Median hourly wage: $59.74
- Total employment: 330 people (0.54 of every 1,000 jobs in the area)

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#11. Economics teachers, postsecondary

- Median annual wage: $125,790
- Median hourly wage: Not available
- Total employment: 30 people (0.05 of every 1,000 jobs in the area)

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indukas // Shutterstock

#10. Physicists

- Median annual wage: $132,250
- Median hourly wage: $63.58
- Total employment: 40 people (0.06 of every 1,000 jobs in the area)

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Drazen Zigic // Shutterstock

#9. Pharmacists

- Median annual wage: $134,230
- Median hourly wage: $64.54
- Total employment: 1,490 people (2.4 of every 1,000 jobs in the area)

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Prostock-studio // Shutterstock

#8. Dentists, general

- Median annual wage: $175,810
- Median hourly wage: $84.53
- Total employment: 230 people (0.38 of every 1,000 jobs in the area)

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#7. Nurse anesthetists

- Median annual wage: $192,670
- Median hourly wage: $92.63
- Total employment: 200 people (0.33 of every 1,000 jobs in the area)

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Jacob Lund // Shutterstock

#6. Pediatricians, general

- Median annual wage: $208,050
- Median hourly wage: $100.03
- Total employment: 250 people (0.41 of every 1,000 jobs in the area)

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#5. Orthopedic surgeons, except pediatric

- Median annual wage: $216,380
- Median hourly wage: $104.03
- Total employment: Not available

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#1. Neurologists (tie)

- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 70 people (0.12 of every 1,000 jobs in the area)

48 / 50
PeopleImages.com - Yuri A // Shutterstock

#1. Family medicine physicians (tie)

- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 240 people (0.39 of every 1,000 jobs in the area)

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Jacob Lund // Shutterstock

#1. Obstetricians and gynecologists (tie)

- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 30 people (0.05 of every 1,000 jobs in the area)

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wutzkohphoto // Shutterstock

#1. Physicians, all other (tie)

- Median annual wage: At least $239,200
- Median hourly wage: At least $115.00
- Total employment: 780 people (1.25 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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