How much more will you earn in IT if you finish a postgraduate university qualification? A report from Graduate Careers Australia suggests you'll end up earning more by doing a postgraduate course, but that going as far as a masters or PhD might not make a significant difference.
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The Postgraduate Destinations 2013 report suggests that university qualifications beyond a basic degree definitely lead to a higher salary overall. People with a higher degree saw their salaries rise by 5.3 per cent in 2013, compared to an overall rise of 2.6 per cent.
The study is based on survey responses from 139,000 postgraduates. It also specifically breaks out salaries for ICT professionals who have completed various types of post-graduate study, both for people in their first jobs and people who have worked for longer. Here's the data, showing median salaries and the number of people in that category:
|Qualification||Median salary||# in category|
|Postgraduate diploma/certificate (any employment)||$85,000||141|
|Postgraduate diploma/certificate (first employment)||$90,000||17|
|Coursework masters (any employment)||$85,000||351|
|Coursework masters (first employment)||$68,000||68|
|Research masters/PhD (any employment)||$80,000||54|
|Research masters/PhD (first employment)||$74,500||20|
Because the numbers are relatively small, you need to be cautious when comparing types of employment or qualifications. However, completing a Masters or PhD doesn't seem to improve your salary.
[via Business Insider]