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Few master's degrees come cheaply, as Business Insider previously reported. According to 2014 study from college planning site EAdvisors, more than half of master's degree holders have student loans averaging $56,661.
But for many high-paying jobs, they are a must.
According to the latest data from the US Bureau of Labor Statistics, these are the 11 highest-paying jobs that require a master's degree.
Each has a median annual salary of at least $80,000.
11. 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 (2015): $80,110
Projected job openings (through 2024): 15,400
Work experience: None
On-the-job training: None
10. 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 (2015): $80,150
Projected job openings (through 2024): 52,600
Work experience: None
On-the-job training: None
9. Postsecondary education administrators
They oversee student services, academics, and faculty research at colleges and universities.
Median annual wage (2015): $88,580
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
They plan, direct, or coordinate the academic, administrative, or auxiliary activities of public or private elementary or secondary level schools.
Median annual wage (2015): $90,410
Projected job openings (through 2024): 83,800
Work experience: 5 years or more
On-the-job training: None
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 (2015): $92,510
Projected job openings (through 2024): 2,500
Work experience: None
On-the-job training: None
6. Physician assistants
They examine, diagnose, and treat patients.
Median annual wage (2015): $98,180
Projected job openings (through 2024): 50,000
Work experience: None
On-the-job training: None
5. Nurse practitioners
They diagnose and treat acute, episodic, or chronic illness, independently or as part of a healthcare team.
Median annual wage (2015): $98,190
Projected job openings (through 2024): 74,700
Work experience: None
On-the-job training: None
4. 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 (2015): $99,180
Projected job openings (through 2024): 7,000
Work experience: None
On-the-job training: None
3. 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 (2015): $99,730
Projected job openings (through 2024): 700
Work experience: None
On-the-job training: None
2. Mathematicians
They create models to solve practical problems in fields like business, government, engineering, and the sciences.
Median annual wage (2015): $111,110
Projected job openings (through 2024): 1,300
Work experience: None
On-the-job training: None
1. Nurse anesthetists
They administer anesthesia, monitor patient's vital signs, and oversee patient recovery from anesthesia.
Median annual wage (2015): $157,140
Projected job openings (through 2024): 16,400
Work experience: None
On-the-job training: None
