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To what extent does having a doctorates degree affect a person ability to get a high paying job?

I plan to earn a masters in the trade of my interest, but I was wondering if working for a doctorate is a worthwhile pursuit in regards to my career. #higher-education

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Jaron’s Answer

The value of a doctorate depends on the field of study and your professional goals. The earning potential varies greatly across fields of study and professions. While people with doctorates generally earn more, the comparative advantage of earning a doctorate is hard to discuss in the abstract.

Jaron recommends the following next steps:

Reach out to people with a doctorate in your desired field of study or profession and ask about the value of their degree to their professional development and career options.
Use career resources such as Glassdoor, PayScale, Occupational Outlook Handbook to see if a doctorate is common or necessary for professionals in your desired job categories or professions.
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Vickey’s Answer

Depends on your specialty. For example, I am a physician assistant. We are required to have a Master's degree to practice. Some programs are offering doctorate degrees now. Will that degree get you more pay than me? No.

A doctorate does not equal an increased salary. If your career choice required a doctorate to be hired, then all the other employees have their doctorate and there is no one on a lower scale. Does that make sense?

It may get you a job and may even get you a raise, but a doctorate doesn't equal increased pay.
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