Generally, doctoral degrees bring larger salaries.
A doctorate degree is one of the highest levels of formal education anyone can achieve. The types of degrees, as well as the titles and benefits that come with them, differ depending on the university, program and subject.
Features
To obtain a doctorate degree, students typically must have a both a bachelor's and master's degree in the desired subject. According to the University of Texas, a doctorate degree "is generally a five- to eight-year program designed to build upon the comprehensive knowledge achieved at the master's level."
Professors at the university level with tenure are usually required to hold a doctorate degree in the subject they teach.
Types
The M.D., or doctor of medicine, is one of the most well-known types of doctorate degrees. Others include the Ph.D. (doctor of philosophy), J.S.D. (doctor of the science of law), and D.M.A. (doctor of musical arts).
Benefits
Most career fields offer a higher salary to an individual that holds a relevant doctorate degree. According to the Census Bureau, workers with a master's degree earned an average salary of $70,559 in 2007, while workers with a doctoral degree received an average of $95,785--a 35 percent difference.
A doctorate degree indicates a level of expertise that frequently opens more doors for workers to advance in their field.
Considerations
Depending on the university and subject, doctoral programs can be extremely expensive. Many students see the high salary in their future as a motivation for obtaining a doctorate degree. With some jobs, such as psychiatrist or surgeon, a doctorate degree is necessary.
Misconceptions
Many believe a thesis is the focus of a doctoral degree program. The thesis, an extensive report on a topic related to the degree subject, is actually part of a master's degree program. A major part of the doctoral program is the dissertation, a scholarly report that requires more-in-depth research into the subject.
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