To become a master of something, at least in the academic world, you have to earn your master’s degree, which usually requires an additional year or two of schooling after acquiring your bachelor’s degree.
Few master’s degrees come cheaply, as Business Insider previously reported. According to a 2014 study from college planning site EAdvisors, more than half of master’s degree holders have student loans averaging $56,661.
But for some high-paying jobs, they are a must.
According to the latest data from the US Bureau of Labor Statistics, these are the 12 highest-paying jobs that require a master’s degree.
Each has a median annual salary of at least $80,000.
12. Statisticians
They use statistical methods to collect and analyze data and to help solve real-world problems in business, engineering, healthcare, or other fields.
Median annual wage(2016): $80,500
Projected job openings(through 2024): 15,400
11. Occupational therapists
They treat injured, ill, or disabled patients through the therapeutic use of everyday activities and help these patients develop, recover, and improve the skills needed for daily living and working.
Median annual wage(2016): $81,910
Projected job openings(through 2024): 52,600
10. Industrial-organizational psychologists
Often after completing an internship, they go on to apply principles of psychology to human resources, administration, management, sales, and marketing problems.
Median annual wage(2016): $82,760
Projected job openings(through 2024): 800
9. Postsecondary education administrators
With several years of experience working in a college administrative setting under their belt, they oversee student services, academics, and faculty research at colleges and universities.
Median annual wage(2016): $90,760
Projected job openings(through 2024): 66,100
Work experience: Less than 5 years
On-the-job training: None
8. Elementary and secondary school education administrators
After several years of working in a leadership or administrative capacity, they plan, direct, or coordinate the academic, administrative, or auxiliary activities of public or private elementary or secondary level schools.
Median annual wage(2016): $92,510
Projected job openings(through 2024): 83,800
7. Nurse midwives
They diagnose and coordinate all aspects of the birthing process, either independently or as part of a healthcare team.
Median annual wage(2016): $99,770
Projected job openings(through 2024): 2,500
6. Nurse practitioners
They diagnose and treat acute, episodic, or chronic illness, independently or as part of a healthcare team.
Median annual wage(2016): $100,910
Projected job openings(through 2024): 74,700
5. Economists
They study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues.
Median annual wage(2016): $101,050
Projected job openings(through 2024): 7,000
4. Physician assistants
They examine, diagnose, and treat patients.
Median annual wage(2016): $101,480
Projected job openings(through 2024): 50,000
3. Mathematicians
They create models to solve practical problems in fields like business, government, engineering, and the sciences.
Median annual wage(2016): $105,810
Projected job openings(through 2024): 1,300
2. Political scientists
They study the origin, development, and operation of political systems; research political ideas; and analyze governments, policies, political trends, and related issues.
Median annual wage(2016): $114,290
Projected job openings(through 2024): 700
1. Nurse anesthetists
They administer anesthesia, monitor patient's vital signs, and oversee patient recovery from anesthesia.
Median annual wage(2016): $160,270
Projected job openings(through 2024): 16,400