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Bachelor's vs master's vs doctorate: comparing graduate outcomes by major in Florida Public Universities (2024)
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At the beginning of 2022, the Florida University System Board of Governors launched a public-facing, online dashboard and data repository called MyFloridaFuture. The State University System of Florida developed this online platform as directed by House Bill 1261, which was enacted in 2021. MyFloridaFuture allows students and potential students to compare different programs and career paths across multiple data sets from Florida's 12 public universities. The information in the MyFloridaFuture tool includes:
- earnings over time by field of study,
- the effects of higher education levels on average earnings for each field to study,
- the percentage of graduates working full-time,
- typical student loan amounts, and
- information on average student loans and student loan payments over time.[1][2][3]
This page compares the average earnings increases for different education levels across the fields of study pursued within the Florida Public University System. It shows the fields of study likely to result in the biggest or smallest increases in earnings for students that move beyond a bachelor's degree to obtain a master's degree or a doctorate.
While higher-level degrees featured higher earnings on average, the sizes of those earnings increases were highly dependent on the fields of study. The data from MyFloridaFuture shows in which fields of study higher degrees are rewarded with higher earnings and full-time employment chances.
Average earnings increases compared across education levels
Bachelor's compared to master's
The MyFloridaFuture contained data on average earnings one year after graduating in 117 fields of study at both the bachelor's and master's education levels.
The chart below compares the difference in average earnings associated with earning a master's degree compared to a bachelor's degree within various fields of study offered by the Florida Public University System. For example, there were 10 fields of study for which average earnings one year after a master's degree were lower than average earnings one year after a bachelor's degree. There were three areas of study for which average earnings one year after a master's degree were 75% higher than average earnings one year after a bachelor's degree.
The chart below shows the fields of study in the Florida Public University System for which moving beyond a bachelor's degree and obtaining a master's could result in the biggest increase in earnings. The chart shows the fields of study for which the average earnings one year after graduating with a master's degree were the highest amount more than the average earnings one year after graduating with a bachelor's in the same field of study.
The chart below shows the fields of study in the Florida Public University System for which moving beyond a bachelor's degree to a master's could result in the smallest increase in earnings or even a reduction in earnings. The chart shows the fields of study for which the average earnings one year after graduating with a master's were less than or the lowest amount more than the average earnings one year after graduating with a bachelor's in the same field of study.
Master's compared to doctorate
The MyFloridaFuture contained data on average earnings one year after graduating in 61 fields of study at both the master's and doctorate education levels.
The chart below highlights the number of fields of study in the Florida Public University System for which average earnings increased if one had a doctorate in that field instead of a master's. For example, there were seven fields of study for which average earnings one year after a doctorate were lower than average earnings one year after a master's degree. There were five areas of study for which average earnings one year after a doctorate were 75% higher than average earnings one year after a master's degree. 22 of these fields of study (36%) had average earnings one year after a doctorate that were between 25% and 50% higher than average earnings one year after a master's.
The chart below shows the fields of study in the Florida Public University System for which moving beyond a master's to a doctorate could result in the biggest increase in earnings. The chart shows the fields of study for which the average earnings one year after graduating with a doctorate were the highest amount more than the average earnings one year after graduating with a master's in the same field of study.
The chart below shows the fields of study in the Florida Public University System for which moving beyond a master's to a doctorate could result in the smallest increase in earnings or even a reduction in earnings. The chart shows the fields of study for which the average earnings one year after graduating with a doctorate were less than or the lowest amount more than the average earnings one year after graduating with a master's in the same field of study.
Bachelor's compared to doctorate
The MyFloridaFuture contained data on average earnings one year after graduating in 54 different fields of study at both the bachelor's and doctorate education levels.
The chart below breaks down how many fields of study in the Florida Public University System came along with different sizes of average earnings increases if you had a doctorate in that field instead of a bachelor's. For example, there were four fields of study for which average earnings one year after a doctorate were between 0% and 10% higher than average earnings one year after a bachelor's degree. Twenty-six of these fields of study (48%) had average earnings one year after a doctorate that were more than 75% higher than average earnings one year after a bachelor's.
The chart below shows the fields of study in the Florida Public University System for which moving beyond a bachelor's to a doctorate could result in the biggest increase in earnings. The chart shows the fields of study for which the average earnings one year after graduating with a doctorate were the highest amount more than the average earnings one year after graduating with a bachelor's in the same field of study.
The chart below shows the fields of study in the Florida Public University System for which moving beyond a bachelor's to a doctorate could result in the smallest increase in earnings. The chart shows the fields of study for which the average earnings one year after graduating with a doctorate were the lowest amount more than the average earnings one year after graduating with a bachelor's in the same field of study.
The data
Click here to access all of the data from MyFloridaFuture on average earnings and full-time employment rates one year after graduation.
See also
- Florida Public University System average earnings by field of study and education level (2024)
- MyFloridaFuture state university information dashboard
- Higher education in Florida, 1993-2016
- Public education in Florida
- Public education in the United States
- Higher education in the United States
- Education policy in the United States
External links
Footnotes
