Exploring the Monetary Advantages of a PhD: US Employee Insights Revealed
Dependence on employee’s age group, industry, job title, and more
As a follow-up to my previous articles,
Salary for US professions analysed with Machine Learning (substack.com)
here I study the potential difference between reporters with PhD and MSc degrees on the AskAManager.org website. Preparation steps are identical to those described here, and I only report the main results. Full details of the analysis can be found in this public Kaggle notebook.
About the Age groups, we see that the PhD degree value is the most pronounced for the youngest (25–34) responders having a degree:
There is also a significant apparent difference in PhD degree value across the industries, with the highest value of about 23 kUSD/year associated with the Research, Biotech, and Health care industries:
About job titles, the largest PhD degree value is associated with Project Managers, Analysts, and Data Analysts:
Regarding overall work experience, not surprisingly, the largest PhD value is associated with the least experienced responders:
The same is true for the specific work experience:
Finally, there is no significant difference in PhD degree value for different genders:
I hope these results can be useful for you. In case of questions/comments, do not hesitate to write in the comments below or reach me directly through LinkedIn or Twitter.