Making the move to another state can yield a big income bump and potentially lower your cost of living, especially for states such as Michigan and Utah.
Austin, Texas (PRWEB)
July 26, 2017
How much is a graduate degree worth? It depends on where you live, according to the latest study by financial education company Student Loan Hero. The study reported the median salary difference between those with a graduate degree and a bachelor’s degree by state, including the District of Columbia.
“This study showcased how important it is for graduate degree candidates to consider where they want to live after graduation,” said Andrew Josuweit, CEO of Student Loan Hero. “Making the move to another state can yield a big income bump and potentially lower your cost of living, especially for states such as Michigan and Utah.”
Top States to Earn a Graduate Degree
In the No. 1 state, California, a graduate degree netted a 42 percent salary increase. Living in a top-10 state, you’d earn about 35 percent more with a graduate degree than you would with an undergraduate degree.
The top 10 states with the biggest pay bumps:
4. District of Columbia
6. New Jersey
9. North Dakota
Even if you don’t live in one of the top 10 states, your wallet would benefit if you headed back to school. For example, if you lived in the lowest-ranked state, Louisiana, you’d still see a 21 percent salary increase after earning a graduate degree. Knowing your state’s pay bump with a graduate degree can help you decide whether you should go back to school.
Pay data was sourced from the Census…