Online schooling makes it possible for you get a degree, even if you have a demanding schedule or need to save money. Did you know that you can even get your PhD online? This is a great option if you want to advance in your career and, of course, make more money. But how much money can you really make with a PhD? Let’s look at the average salary you can except if you go back to school for this type of degree.

PhD Salary

The average salary you can expect with a PhD depends on your field of study. According to Indeed, the average salary you can expect with a PhD across all industries is $72,000. Here are the average salary you can expect in some specific jobs if you have a PhD:

• Research Scientist: $83,020
• College Professor: $108,238
• Senior Pastor: $47,915
• Clinical Psychologist: $69,776
• Director of Finance: $140,000
• Medical Equipment/Supplies Administrator: $133,000
• Software Engineer: $102,500

This is just a small sampling of some of the jobs you could do with a PhD. In most fields, earning a PhD makes it possible for you to go into research or teaching, but more and more PhD students are going into practical work as well.

Online Students’ Salaries

The above salaries take into account all PhD holders, no matter where they got their degree. What about getting your online degree – is their any difference?

At one time, there was a huge gap between salaries of employees who got degrees online and employees who got degrees at more traditional schools. This gap has since closed almost complete, as employers now realize the value of online education, especially at the doctorate degree level. As long as you attend an online school that is accredited, few employers care where you got your degree. Accreditation ensures that the program you attend upholds a certain standard, so you don’t have to worry about diploma mills (i.e.,  colleges where you essentially pay to receive the degree but aren’t required to actually do any work). While there still are discrepancies with some individual employers, getting a PhD online will lead to just as high of a salary as getting your degree at a brick and mortar school.