Which Ph.D. Fields Are Worth It?
A Ph.D. can significantly boost your career prospects but requires time and money. Here are the programs that have the best financial outcomes.
Why it matters
When deciding between fields of study, you need to understand the potential earnings of your degree. Understanding the potential salaries of each Ph.D. degree sets you up for success.
By the numbers: On average, a Ph.D. increases median lifetime earnings by $1.2 million.
Highest Paying Ph.D. Fields
Doctoral programs in computer science, engineering, and economics lead the nation in median annual compensation.
| Rank | Ph.D. Program | Median Annual Salary |
|---|---|---|
| 1 | Ph.D. in Computer and Information Sciences | $185,000 |
| 2 | Ph.D. in Electrical and Computer Engineering | $181,000 |
| 3 | Ph.D. in Aerospace, Aeronautical, and Astronautical Engineering | $171,000 |
| 4 | Ph.D. in Economics | $160,000 |
| 5 | Ph.D. in Chemical Engineering | $159,000 |
| 6 | Ph.D. in Physics | $156,000 |
| 7 | Ph.D. in Metallurgical and Materials Engineering | $154,000 |
| 8 | Ph.D. in Mechanical Engineering | $150,000 |
| 9 | Ph.D. in Biochemistry and Biophysics | $140,000 |
| 10 | Ph.D. in Microbiological Sciences and Immunology | $139,000 |
The Changing Economy
Especially with the advent of AI, the workforce is changing quickly. Fast growing fields with increased demand may lead to higher earnings in the future.
Fast Growing Fields (Projected Employment Growth)
| Rank | Ph.D. Program | Projected Employment Growth |
|---|---|---|
| 1 | Ph.D. in Health Sciences | 17.9% |
| 2 | Ph.D. in Nursing | 17.1% |
| 3 | Ph.D. in Biomedical Sciences | 12.6% |
| 4 | Ph.D. in Biochemistry and Biophysics | 12.3% |
| 5 | Ph.D. in Clinical Psychology | 11.7% |
| 6 | Ph.D. in Astronomy | 7.8% |
| 7 | Ph.D. in Engineering | 7.8% |
| 8 | Ph.D. in Biological Sciences | 7.3% |
| 9 | Ph.D. in Physics | 7.2% |
| 10 | Ph.D. in Business | 5.9% |
Shrinking Occupations & Stagnant Salaries
Fields connected to shrinking occupations may lead to fewer employment opportunities and stagnant salaries.
| Rank | Ph.D. Program | Projected Employment Growth |
|---|---|---|
| 1 | Ph.D. in Survey Methodology | -4.8% |
| 2 | Ph.D. in Geography | -2.1% |
| 3 | Ph.D. in Political Science | -2.0% |
| 4 | Ph.D. in English Language and Literature | 0.0% |
| 5 | Ph.D. in History | 0.0% |
Keep In Mind…
Funding matters
While many Ph.D. programs offer tuition waivers and stipends, funding packages and expenses depend on school and location.
The opportunity cost
You sacrifice several years of potential earnings in the workforce.
Your career destination
Your individual professional goals can lead to drastically different earnings with the same degree.
Program length
Consider how long the degree will take and its completion rate.
Who this actually makes sense for
You need enough funding and a field that will reward your degree. Be willing and able to wait for a payoff.
The Bottom Line
“Consider earnings outlook, growth projections, and specific funding packages when choosing which Ph.D. to pursue.”
Planning for graduate school funding?
Use our step-by-step calculator to estimate your funding gap and federal borrowing limits.
Sources: Georgetown Center on Education and the Workforce, National Center for Science and Engineering Statistics, Bureau of Labor Statistics. Reviewed as of Sept. 4, 2026.