how to make a lot of money with a phd

Highest Paying Doctorate Degrees [2024 Guide]

We’ve identified the 25 highest paying doctorate degrees. Compare salaries and job prospects.

Completing a PhD may open up doors in terms of career advancement. Plus, it may not take as long as you think to complete if you enroll in the shortest doctoral programs .

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The following list contains the highest paying doctorate degrees along with career outlook and job growth statistics.

25 Highest Paying Doctorate Degrees

All career statistics and salary data are provided by the U.S. Bureau of Labor Statistics .

Click on the area of study you’re interested in to jump to that section.

Aerospace Engineering

Chemical engineering, pharmacology, business administration, cybersecurity, electrical engineering, data science, biochemistry, information security assurance, biomedical engineering, information technology and computer science, occupational therapy, criminal justice, engineering, organic chemistry.

While all of these industries are growing, some provide better job prospects than others.

• Annual Median Salary (Bureau of Labor Statistics): $208,000
• Job Growth: 4%

One of the more specialized high paying doctorate programs is in immunology. Immunology is the study of disease prevention and immunity. Due to the specialized nature of the study here, jobs are typically well paid and much more specific.

A person who has studied immunology may be expected to work in research or academia but is also likely to land high-paying roles within the medical industry and at hospitals. The demand for this area of expertise is also rising faster than the average job growth, meaning there should be plenty of opportunities for graduates.

A PhD in immunology is a lot of hard work and is, therefore, suited to someone who already has considerable experience working in the medical industry. Those with an academic background in medicine should consider applying for an immunology program.

• Annual Median Salary (Bureau of Labor Statistics): $129,850
• Job Growth: 7%

Of the three main sciences, physics can be the one that is the most fruitful for taking a doctorate. People who take a PhD in physics are likely to land themselves a position as either a researcher or a professor.

There are also several other high paying positions that are possible for someone who takes this career path, including more specialized roles or becoming lead physicists and consultants.

Physics is also one of the job markets that is predicted to see a considerable amount of growth for the next 10 years. Pursuing a physics doctorate can be perfect for someone who already has experience in physics or someone who already has either a bachelor’s or master’s degree in the subject combined with some practical experience.

• Annual Median Salary (Bureau of Labor Statistics): $118,610
• Job Growth: 3%

Aerospace engineering is a field that would likely attract those who already have a background in either science or engineering. It is one of the fastest growing industries in the world, and demand for jobs is expected to increase as the years roll by. So the length it takes to get a PhD should be taken into consideration so you can quickly enter this field during its booming growth.

The doctorate focuses on the engineering of various different types of spacecraft and can be incredibly demanding. According to the Bureau of Labor Statistics, the salary potential for this field is as high as $171,220.

• Annual Median Salary (Bureau of Labor Statistics): $110,860

Math may not be the glamorous subject to study at doctorate level, but it can open up a wide range of potentially lucrative career options.

Math can allow students to work in various sectors of the economy and business, and they may also work in research or as a math lecturer or professor at a top university.

• Annual Median Salary (Bureau of Labor Statistics): $109,760
• Job Growth: 5%

Taking a doctorate in management can be a logical step in the career of someone who has a history of working in business, project management, or the economy as well as several other sectors.

Earning this doctorate can open up chief executive roles within companies and roles like chief operations officer and supply chain management. It may also lead to regional and national management roles.

• Annual Median Salary (Bureau of Labor Statistics): $108,540

Another engineering-based field that presents doctorate students with some big money career options is chemical engineering. The field combines a number of different disciplines, including all of the sciences, math, and statistics, as well as engineering.

It is a complex doctorate to take, but the rewards may be worth the effort, with the Bureau of Labor Statistics showing salaries up to $168,960 available in this field.

• Annual Median Salary (Bureau of Labor Statistics): $108,350
• Job Growth: 14%

One of the most popular PhDs to take is in economics. Economics is a social science that studies and theories about the production and consumption of goods and the effect that this has on society and the economy.

Taking a PhD in economics may open up a lot of doors. Working in the financial sector is usually lucrative, and a doctorate in economics can help give you an edge over competitors in what is a notoriously feisty industry. Top earners can make around $198,230 per year.

Economics analysis is a skill that is highly sought after, especially in the medical, legal, and education sectors.

While on the face of it, some people may believe that studying economics leaves you consigned to an office for the majority of your working life, the reality is that it can open up a lot of doors in a lot of different sectors. It may also provide you with a lot of travel opportunities and chances to meet new people.

A doctorate in economics may be perfect for someone who already has some experience in the field or for someone who has studied economics, math, finance, or business to a higher level and wants to take the next step in their academic and professional career.

• Annual Median Salary (Bureau of Labor Statistics): $107,270
• Job Growth: 6%

Pharmacology is big business these days, and taking a doctorate in the subject may lead to some lucrative opportunities. It is expected that someone who wants to study pharmacology will have a background in the subject with a master’s degree being heavily preferred.

There are a lot of pre-requisites for getting onto a pharmacology doctorate program, but the Bureau of Labor Statistics is showing salaries going as high as $164,980.

• Annual Median Salary (Bureau of Labor Statistics): $103,650

Getting a doctorate in business administration can open up a lot of doors. Students who end up taking their doctorate in business administration often end up working as leading and chief executives as well as entrepreneurs and financial advisors.

According to the Bureau of Labor Statistics, salaries for someone with a doctorate in this field can be as high as $208,000. It can be ideal for someone who has a background in business or economics who wants to take the next step in their career.

• Annual Median Salary (Bureau of Labor Statistics): $103,590
• Job Growth: 31%

As the world of IT continues to grow, so does the demand for more and more cybersecurity. The field is one of the fastest-growing in the world, and getting a doctorate in the subject may land you a range of different high paying jobs.

According to the Bureau of Labor Statistics, roles like IT managers can offer doctorates a salary of up to $208,000. This sector is also constantly growing, and as such, the demand and the salaries should continue to grow as time passes.

• Annual Median Salary (Bureau of Labor Statistics): $100,830

When it comes to job demand, electrical engineering is one of the safest career paths to go down. Electrical engineering has a huge impact on our day-to-day lives.

Most of our day-to-day electrical appliances exist as a result of electrical engineering, and taking a doctorate in the field may open the door to some pretty lucrative research and project management positions. It is advised that someone who takes a PhD in electrical engineering already have practical experience in the field.

• Annual Median Salary (Bureau of Labor Statistics): $98,490

A doctorate in education can open up a lot of different career options in that sector. A lot of doctors of education end up working in either research or in top positions at schools as principals and superintendents.

According to the Bureau of Labor Statistics, the average salary for someone working in education administration with a doctorate is around the $199,400 mark. A number of doctor of education programs do not require a dissertation .

• Annual Median Salary (Bureau of Labor Statistics): $98,230

Data is quickly becoming the most valuable commodity on the planet, and as such, the demand for data specialists and researchers is growing at an impressive rate.

Data science doctorates offer a gateway into these positions, and they usually come with some pretty high salaries. According to the U.S. Bureau of Labor Statistics, salary for a data scientist can go as high as $165,230, and with this field ever-expanding, the demand for these positions should continue to increase.

• Annual Median Salary (Bureau of Labor Statistics): $94,270

Biochemists study the chemical and physical makeup of living organisms. Due to the specialized nature of the subject, research positions in this sector typically pay incredibly well.

According to the Bureau of Labor Statistics, biochemist doctorates can start out at around $67,710 but can increase up to $169,860 or more. This doctorate may suit someone with a background in chemistry or some other science discipline.

• Annual Median Salary (Bureau of Labor Statistics): $92,870

Information assurance is a new discipline that has been created as a result of the times we live in. Information assurance is effectively another type of cybersecurity that is designed to protect people’s data from third parties and other potentially dangerous sources.

A background in any sort of computer or data-related field can be ideal for getting onto an information assurance course. Due to the increasing demand for data protection, jobs in this sector can be particularly lucrative, and the demand for these jobs is expected to increase as time rolls on.

The demand for experts in this industry is very high and is only predicted to grow over the next decade.

• Annual Median Salary (Bureau of Labor Statistics): $92,620

Biomedical engineering is becoming an incredibly popular field of research. It is an ever-growing and developing industry, and as such, the demand for expertise in the area is on the rise.

Getting a PhD in biomedical engineering is likely to secure you a lucrative research job for a university or a job in a hospital or the medical industry. According to the Bureau of Labor Statistics, an average salary in this field for a senior position ranges from $127,980 to $169,860.

• Annual Median Salary (Bureau of Labor Statistics): $92,270
• Job Growth: 35%

Statistics is one of the most versatile doctorates available today. Statistics are used in a wide range of different sectors, including finance, research, business, health care, government, and many others.

A doctorate in statistics can be ideal for someone who has a background in math or business. According to the Bureau of Labor Statistics, the top salary for someone working in statistics can be as high as $150,840.

• Annual Median Salary (Bureau of Labor Statistics): $91,250
• Job Growth: 11%

The world of IT is constantly growing, and as it does, the demand for experts grows with it. Getting a doctorate in information technology and computer science can be an incredibly lucrative career move, with the Bureau of Labor Statistics showing top earners taking home as high as $208,00.

The jobs that can be accessed, such as chief technology officers or research roles within the industry, tend to be incredibly well-paid. This doctorate attracts people who have backgrounds in IT-related fields, such as computer science or computer programming.

• Annual Median Salary (Bureau of Labor Statistics): $86,280
• Job Growth: 16%

For someone who already has experience working in occupational therapy, earning a doctorate in the field can be a huge benefit. Not only can it open the door for them to move up in the industry, but it can also expand their knowledge of the subject area.

It can provide them with theory-based research while also working on their leadership and management skills. According to the Bureau of Labor Statistics, occupational therapists holding a doctorate degree may reach a salary as high as $122,670.

The job growth for this doctorate is also incredibly high, which means it may be an excellent career path to enter in terms of job security.

• Annual Median Salary (Bureau of Labor Statistics): $86,110

The number of career options that are available to someone who has a doctorate in criminal justice is typically vast. Working as a criminologist, a criminal justice researcher, or a federal law agency admin can earn graduates a lot of money.

This course of study is best suited for someone who already has real-world experience working in the criminal justice or law sector.

• Annual Median Salary (Bureau of Labor Statistics): $83,160

Engineering jobs are almost always in demand, and while there are a lot of high paying jobs available for those who have an undergraduate or master’s degree, taking a doctorate in the field can really help you advance your career.

An engineering degree is already one of the highest paying associate degrees , highest paying bachelor degrees , as well as one of the highest paying masters degrees , but the doctorate can be perfect for someone who already has experience working in engineering and wants to take that next step in their career.

A director of engineering job title and other project management positions may offer some very high salaries, about $208,000 or more, according to the Bureau of Labor Statistics.

• Annual Median Salary (Bureau of Labor Statistics): $82,180

With the stigma around mental health finally disappearing, the demand for jobs in psychology is on the rise. While a normal degree or masters in psychology may allow you to get jobs as a psychiatrist or a psychologist, higher-paying positions can become available following a doctorate.

It may also open up roles in research and as a university lecturer in the subject. The doctorate is suited to someone who already has their masters in psychology or who has a significant amount of experience working in the field.

• Annual Median Salary (Bureau of Labor Statistics): $80,790
• Job Growth: 9%

Getting a degree in philosophy can potentially lead to a surprisingly lucrative career in research or working as a lecturer. The doctorate is suited for someone who wants to work in research and who has a background in philosophy or religious studies.

According to the Bureau of Labor Statistics, salaries in this field are around $80,790 per year working in a research role, and up to $180,360 for college professors.

• Annual Median Salary (Bureau of Labor Statistics): $79,300

Organic chemistry, perhaps more than any of the other sciences, can open up a lot of different career options for doctorates. As well as research and academic positions, someone who studies organic chemistry may be able to land a job in a number of different areas, including geology, the pharmaceutical industry, and engineering.

Organic chemistry is a notoriously difficult subject to study, though, so it is vital that you have a solid background in chemistry and some work experience before attempting to join the program. According to the Bureau of Labor Statistics, salaries can go as high as $139,650 in this field.

• Annual Median Salary (Bureau of Labor Statistics): $69,000
• Job Growth: 2%

A doctorate in English can open a range of different academic doors for potential students. A PhD in English may be perfect for someone who already has an academic background in the subject and can also be perfect for qualified teachers and writers looking to take the next step in their career.

According to the Bureau of Labor Statistics, a doctorate in English may qualify you for a potential career in a lecturing position with salaries as high as $180,360, as well as positions within the publishing industry.

What Are the Different Types of Doctorate Degrees?

There are six common types of terminal degrees.

• Doctor of Philosophy (Ph.D.) – Traditionally reserved for those who want to remain in the world of academia, Ph.D. degrees focus on maximizing your ability to impart this advanced knowledge to incoming students. Outside of teaching, Ph.D. candidates also focus on pushing the limits of research and theoretical study within their chosen fields.
• Doctor of Business Administration (DBA) – The DBA experience is all about turning your terminal research in the areas of finance, marketing, accounting, and other related fields into applicable real-world skills. DBA graduates traditionally work in the corporate sector as executive officers and other ranking members of various managerial teams.
• Doctor of Psychology (PsyD) – PsyD students aim to provide clinical services within a wide range of settings, including group, familial, medical, scholastic, and even corporate environments. Earning this degree can give you the power to serve as a practicing clinician or specialized counselor.
• Doctor of Education (EdD) – Capturing an EdD degree is the first step toward a leadership role within the corporate and administrative side of the education field. Working as a principal, district supervisor, or even regional superintendent all fit into the professional path of this degree.
• Doctor of Social Work (DSW) – If you’re interested in educating others on the best practices and leading theories of modern social work and community interaction, then a DSW program could be your option. Holders of this degree research and educate others in the social work field via hands-on training in the classroom and the office, as well as provide answers and guidance in unique or exceptional social issue cases.
• Doctor of Public Health (DPH) – Like most of the other degrees in this review, earning a DPH is all about the desire to lead others in a chosen workplace environment. In this case, that means maintaining residency as an administrator or public health coordinator at a hospital or a similar clinical setting.

The type of doctorate degree you will want to earn depends on your career goals and primarily whether you want to teach the subject or continue working in your field.

Campus or Online: Which One Is Right for You?

It’s no big secret that whichever doctorate route you choose, you will most likely be rewarded for your hard work and research via ample compensation. However, you can make this process a little easier on yourself by focusing on a path – either online or on-campus – that suits your unique needs and daily requirements.

While the appeal of the traditional college experience is the major selling point for the on-campus approach, working on your degree from home is a flexible alternative that can shape and mold itself to your current personal and professional schedule by allowing you to work on your research and coursework at your own pace.

Adding in that these doctorate programs often waive Graduate Record Examination (GRE) minimum scores based on your GPA, as well as reduce or completely remove residency requirements, is further proof that this approach is at least worth your consideration as you plan out your academic future.

Questions Related to Earning a Doctorate

Here are our answers to a few more questions you might have.

How Much Do PhD Graduates Earn?

PhD Graduates make on average close to $100,000, with some job positions paying nearer the $70,000 mark and others going well about $208,000 (Bureau of Labor Statistics).

There may be some who question whether it is worth taking the time to invest in a PhD. Doctorate programs require a lot of time and effort, but studies suggest that PhD students typically earn more and find it easier to attract higher-paying jobs than those with just an undergraduate or a master’s degree.

What Are the Highest Paying Degrees?

A lot of degrees can lead to well-paying jobs. The more specialized a degree is in a certain field, the higher the chances are that it will be well paying. These degrees currently tend to be those in the engineering sector, as these are the ones that offer the most in-demand jobs.

What Is the Highest Paying PhD Degrees?

Once again, this one will depend on how specialized your PhD is and how in-demand that expertise is at a given time. Engineering PhDs tend to be evergreen, while there is an increasing demand for those with PhDs and knowledge in computer science and other IT related subjects.

PhDs usually provide those who have them with a lot of the highest paying jobs opportunities.

Are There Any Degrees Higher than a PhD?

No, there are no higher degrees than a PhD.

A PhD, also regularly referred to as just a doctorate, is as high as you can go academically. It is a specialized research doctorate that demonstrates a high level of expertise in a field. Most people who obtain their PhD tend to stay on at universities as either a member of a research team or as a lecturer.

Do you need a masters to get a PhD ? While many PhD programs require you to earn a masters first, it is possible to earn your PhD without having earned a masters. These are the direct entry bachelor’s to PhD programs offered by some universities.

Getting Your Doctorate Degree

It is important that you take the time to do your research into what doctorate will help your career the most. Once you have done this, you can begin to find the right university and program for you and begin the next step in your academic and professional career.

Now that you understand your career prospects and doctorate opportunities, it’s time to lay out the blueprint for a successful future.

Outside of conducting research on each of the areas that interest you, feel free to use the search tool below to find accredited universities that offer online doctoral programs in your chosen field.

When paired up with the rest of what you’ve learned here, there’s nothing that can stop you from finding the right school – and program of study – to fit your personal and professional goals moving forward.

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How PhD Students Get Paid

The most common questions (and biggest misconceptions) about getting a PhD revolve around money. Maybe you’ve heard that PhD students get paid just to study, or maybe you’ve even heard that PhD students don’t get paid at all.

It makes sense — how you make money as a PhD student is different from most other career routes, and the process can be highly variable depending on your school, discipline and research interests. 

D o PhD students get paid?

Most of the time the answer is yes. PhD programs that don’t offer some form of compensation, like stipends, tuition remission or assistantships, are rare but they do exist. On the other hand, some programs, like a PhD in Economics , are so competitive that unpaid programs are virtually unheard of. 

To help you gain a better understanding of PhD funding and decide if getting a PhD is worth it for you, here are some of the most common examples of how PhD students are paid. 

PhD Stipends

Most PhD programs expect students to study full-time. In exchange, they’re usually offered a stipend — a fixed sum of money paid as a salary — to cover the cost of housing and other living expenses. How much you get as a stipend depends on your university, but a range for the average PhD stipend is usually between $20,000 - $30,000 per year.  

In some cases, your stipend will be contingent upon an assistantship.

Assistantships

A PhD assistantship usually falls into one of two categories: research or teaching. 

For research assistantships , faculty generally determine who and how many assistants they need to complete their research and provide funding for those assistants through their own research grants from outside organizations. 

A teaching assistantship is usually arranged through your university and involves teaching an undergraduate or other class. Assistantships allow graduate students to gain valuable experience leading a classroom, and helps to balance out the university’s stipend costs. 

Fellowships

Fellowships provide financial support for PhD students, usually without the teaching or research requirement of an assistantship. The requirements and conditions vary depending on the discipline, but fellowships are generally merit based and can be highly competitive. Fellowships usually cover at least the cost of your PhD tuition , but some may even pay for scholarly extracurricular activities, like trips, projects or presentations. 

Fellowships can be offered through your university or department as well as outside sources. 

Part-time Employment

PhD candidates don’t commonly have additional employment during their course of study, but it is possible depending on your discipline and the rigor of your program. Flexible, low-demand jobs like freelance writing or tutoring can be a natural fit for many PhD students, and might be flexible enough to balance along with your coursework. 

All in all, it’s fair to say that though the form of payment may be unfamiliar, PhD students do in fact get paid. But keep in mind that while most PhD programs offer some kind of funding for students, it’s not guaranteed. 

Want to know more about how to pay for a PhD ? Explore our Guide to Choosing and Applying for PhD Programs . 

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doctoral degrees at SMU, and how you can choose the right program and thrive in it, in our Guide to Getting a PhD.

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How Do PhD Students Make Money? Do PhD Students Get Paid?

A PhD journey is as much an intellectual endeavor as it is a financial one. With tuition fees, living expenses, and academic costs piling up, PhD students often find themselves seeking ways to supplement their income.

This article explores the varied avenues through which doctoral candidates navigate the financial challenges of their studies, from traditional stipends and assistantships to innovative side hustles.

Do PhD Students Get paid?

The short answer is yes, but there’s more to it.

Most PhD students receive a stipend, which is a fixed sum of money designed to cover living expenses rather than earning a salary like a traditional job.

Stipends come from various sources, such as:

• teaching assistantships,
• research assistantships, or
• fellowships.

For instance, as a teaching assistant, a PhD student might lead discussion sections or labs for undergraduate courses. This not only provides financial support but also valuable teaching experience.

Research assistantships are another common avenue, where students contribute to a professor’s research projects. This role aligns closely with a PhD student’s academic and professional growth.

Research Assistantships is also a good way for people to learn and hone their research skill, especially if they jump straight from a bachelor’s degree to a PhD.

Fellowships are usually merit-based and might cover tuition in addition to providing a living stipend.

However, the amount PhD students get paid varies widely by:

• university, and
• geographical location

Stipends in cities with a high cost of living often being higher, albeit sometimes not enough to cover all expenses. 

As a result, some students turn to part-time jobs, freelance work, or tutoring to supplement their income, though international students might face restrictions based on their visa status.

PhD Stipends

Many PhD students do receive stipends, a financial award intended to support their living expenses while they focus on their studies and research.

Unlike a salary from a full-time job, stipends are not compensation for services rendered but rather a form of scholarship to aid students during their rigorous academic journey.

Stipends are often funded through teaching assistantships, where PhD candidates might teach undergraduate courses or assist professors with their classes.

This not only provides financial support but also invaluable teaching experience in academia. Similarly, research assistantships allow students to work on specific research projects, often related to their dissertation, under the guidance of a faculty member.

However, the amount of these stipends can vary widely, influenced by:

• the university’s location,
• the field of study, and
• available funding.

In high-cost living areas, some stipends might barely cover basic expenses, prompting students to seek additional income through part-time work, tutoring, or freelance projects.

It’s worth noting that international students may face restrictions on the amount of work they can undertake, dictated by their visa terms.

Fellowships

Fellowships stand out as a significant source of funding for doctoral students. These fellowships are not just financial aids; they are prestigious awards that recognize the potential and caliber of PhD candidates.

Fellowships provide a stipend, which is essentially a financial grant designed to cover living expenses, allowing students to focus more on their dissertation and less on financial burdens.

Unlike assistantships that require teaching or research in return, fellowships often come with no strings attached, offering more freedom and flexibility in pursuing academic endeavors.

For instance, the National Science Foundation (NSF) offers Graduate Research Fellowships, highly coveted in the STEM fields. These fellowships not only cover living expenses but also include tuition remission, freeing students from the worry of educational fees. 

Similarly, the Ford Foundation Fellowship programs aim to increase diversity in academia, providing generous support to underrepresented groups.

Internationally, the Rhodes and Marshall Scholarships enable students to pursue doctoral studies at prestigious institutions like Oxford and Cambridge, offering a comprehensive package that covers tuition, living costs, and travel expenses.

However, securing a fellowship can be highly competitive, with selection criteria that often extend beyond academic excellence to include:

• leadership qualities,
• community involvement, and
• potential for future contribution to the field.

Part-Time Teaching Assistantships

For many PhD students, part-time teaching assistantships are a vital source of income and an integral part of their graduate education.

Serving as a teaching assistant, or TA, involves a range of duties from leading discussion sections to grading papers, all while juggling your own coursework and dissertation research.

This dual role offers not only financial support but also a valuable opportunity to gain teaching experience in academia.

Typically, TAs receive a stipend intended to cover living expenses, the amount of which can vary widely depending on:

• the university,
• department, and

Some might find this stipend sufficient, while others, especially in cities with a high cost of living, might need to explore additional income sources.

Beyond the stipend, many teaching assistantships come with the added benefit of tuition remission, relieving the financial burden of grad school fees. This allows PhD students to focus more on their studies and research without the stress of accumulating debt.

However, the number of hours a TA is expected to work can also vary, usually capped at 20 hours per week to ensure students have enough time to dedicate to their own academic pursuits.

Despite this, balancing teaching responsibilities with doctoral studies can be challenging and requires excellent time management skills.

For international PhD students, teaching assistantships are often one of the few work options available due to visa restrictions, making these positions highly sought after.

PhD Side Hustles – Earn More Money

Many PhD students are turning to side hustles to supplement their income. Beyond the traditional stipends, teaching assistantships, and fellowships, entrepreneurial PhD students are finding innovative ways to earn money while pursuing their degrees.

Freelancing emerges as a popular choice among doctoral candidates, especially those with skills in:

• data analysis, and
• programming.

Websites that connect freelancers with short-term projects offer a flexible way to earn money without conflicting with academic commitments.

A PhD student in computational biology might freelance as a data analyst, applying their expertise while earning extra income.

Tutoring is another common side hustle for PhD students. Leveraging their advanced knowledge, many offer tutoring services in their field of study or related subjects, such as statistics for social sciences.

This not only provides additional income but also helps in honing their teaching skills, valuable for an academic career.

Some PhD students venture into more creative side hustles, such as starting a:

• podcast, or
• YouTube channel related to their research or academic life.

These platforms can generate income through advertising, sponsorships, and merchandise sales, all while enhancing their public engagement and communication skills.

It’s worth noting that managing a side hustle alongside PhD commitments requires careful time management. Moreover, international students must navigate visa restrictions that may limit their ability to work outside their studies.

Can International Students Earn Money As A PhD Student?

PhD program can be particularly challenging for international students, given the constraints imposed by visa regulations.

However, it’s possible for international PhD candidates to earn money while pursuing their studies, albeit within certain boundaries.

Most international PhD students are eligible for on-campus employment, including teaching assistantships and research assistantships.

These positions not only provide a stipend to cover living expenses but also offer invaluable experience in teaching and research, integral components of academic professional development.

For instance, as a teaching assistant, an international PhD student might lead discussion sessions or assist in grading, while adhering to the stipulated number of work hours per week as dictated by their visa.

Fellowships are another avenue through which international PhD students can secure financial support. These awards often come without the work obligations tied to assistantships, allowing students to focus more intently on their dissertation work.

Moreover, internships, particularly those related to the student’s field of research, can offer both financial remuneration and practical experience.

Some doctoral programs have partnerships with industries that facilitate such opportunities, though international students must ensure these opportunities align with their visa stipulations.

While off-campus employment is typically more restricted, some countries offer provisions under which international students can engage in work outside the university.

This might include part-time jobs or internships related to their field of study, provided they o btain the necessary work authorization.

Students In PhD Program Do Earn Enough Money To Survive

PhD students employ a diverse range of strategies to secure financial stability while pursuing their studies. From engaging in teaching and research assistantships to exploring fellowships and embracing entrepreneurial side hustles, they demonstrate adaptability and ingenuity.

These financial avenues not only support their academic journey but also enrich their professional and personal development, laying a foundation for a versatile career path.

Ultimately, the journey to make money as a PhD student is intertwined with their pursuit of academic excellence and professional growth.

Dr. JW Ong holds academic degrees, including a Ph.D. in Applied Linguistics from universities in New Zealand, Malaysia, and the UK. He started PhDPursuits.com as a way to share the experience he wish he would have had known before embarking on his PhD.

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Personal Finance for PhDs

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The Complete Guide to a Side Hustle for a PhD Student or Postdoc

September 17, 2018 by Emily

It’s no secret that PhD students and postdocs are paid a meager salary, sometimes not even as much as the local living wage. While a fraction of graduate students have probably always pursued side income to supplement their stipends/salaries, e.g., through part-time jobs, moonlighting, or odd jobs, only in recent years has it become easy to make money online or make money from home. Enter the ‘side hustle.’ The term exploded in popularity during the Great Recession along with the ‘gig economy.’ The flexibility of modern side hustles has made it possible for students and postdocs to fit their income-generating activities around their busy research schedules.

This article details why a graduate student or postdoc would want to side hustle, whether it’s allowed by their university/institution, examples of real side hustles held by PhDs, how to best manage the side income, and advice from PhDs with successful side hustles.

Motivations for Side Hustling

The motivations for having a side hustle during your PhD training are to make up for the deficiencies in what the university provides: money (primarily) and career-advancing experiences.

Increase Income

Pursuing your PhD during graduate school or gaining additional training as a postdoc is supposed to be your full-time (or more) pursuit. Research is life, right? Unfortunately, the positions don’t pay anywhere near as well as a regular full-time job.

The best case scenario for a PhD student or postdoc is that you will be paid enough to support yourself without making extreme lifestyle sacrifices, i.e., living in a van . However, there are plenty of programs and universities that do not even meet that low bar for a single person with no dependents. For a graduate student or postdoc with a dependent spouse (e.g., of an international trainee) or children, the low stipend or salary is almost certainly inadequate.

Graduate students almost always turn first to cutting their living expenses to be able to live within their means. They know that they are supposed to devote the lion’s share of their weekly energy to their coursework, research, and teaching. But when their backs are against the wall, some make money on the side to avoid going (further) into debt.

Career-Advancing Experiences

Some graduate students and postdocs are motivated to side hustle not by lack of income but rather lack of practical career preparation.

What careers does a PhD or postdoc prepare you for? These days, the vast majority of PhDs are not hired into tenure-track faculty positions. (Time to stop calling the jobs most PhDs get “alternative”, right?) Some universities have acknowledged this and put in place programming to help PhDs transition out of academia (my alma mater, Duke University, and in particular the Pratt School of Engineering, is innovating in this area), while others are still catching up.

Of course, PhDs have plenty of transferable skills that can be put to use in a wide variety of careers, but landing a job is still challenging.

Further reading: How My PhD Prepared Me for Entrepreneurship

A judiciously chosen side hustle (or even volunteer work) can help a PhD build out her resumé/CV and network to stand out from the other PhD applicants. A side hustle can teach you new skills, give you an opportunity to demonstrate the skills you already possess, and introduce you to professionals who can further your career journey.

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Are Side Hustles Allowed by Your PhD Program or Postdoc Position?

While some academics may take the view that side hustling distracts from classes, teaching, research, etc., for some people a side hustle is the main factor that enables them to stay in their graduate programs or postdoc positions. They side hustle because they want to keep doing PhD-level research ; otherwise, they can just leave and earn more money elsewhere! If conceived and managed properly, a side hustle is not a distraction from the student or postdoc’s training but rather an enhancement of it.

If you think about graduate school or your postdoc as similar to any other type of job, usually the only stipulations regarding your side hustle are that: 1) it does not interfere with your primary job and 2) it does not present a conflict of interest. That logic is helpful for thinking through whether a side hustle is allowed, but the universities sometimes add layers of complexity.

Further reading: Can a Graduate Student Have a Side Hustle?

Side Hustle Permissibility by Position Type: International, Fellow, Employee, Etc.

There may be explicit bans on making money on the side or it may be frowned upon. The income and experience gained from a side hustle is not worth getting kicked out of your graduate program or postdoc position.

International trainees

The F-1 and J-1 visas generally only permit employment directly in your capacity as a graduate student or postdoc. Sometimes, you can seek permission for other employment ventures, such as Optional Practical Training (OPT) for F-1 visa holders. A side hustle that you work on simultaneously with your research will likely not comply with these rules, so it’s a no-go.

Fellowship Recipients (Graduate or Postdoc)

Check the terms of your fellowship funding supplied by your university, employer, or funding agency. There may be a stipulation that no outside income is allowed as the fellowship is designed to support you completely and require your complete dedication. If you choose to pursue a side income against the terms of your fellowship, proceed with extreme caution and recognize the downside is potentially losing your primary funding. In other cases, outside income is not mentioned by the fellowship terms or is even explicitly allowed.

Research and Teaching Assistants

This is the category of graduate students most likely to be able to get away with a side hustle or be explicitly allowed because your responsibilities are generally time-limited to 20 hours per week (officially). Of course, beyond that, you are responsible for your dissertation work, so side hustling might conflict with that important pursuit. If you are in a contract with your university, check its terms. If outside income is not allowed, proceed with caution as you might lose your assistantship. You might, however, find a provision that allows outside income, perhaps up to a certain number of hours per week.

Postdoc Employees

A postdoc employee has a regular job, albeit a demanding one. Your desire to side hustle at that point in your training is more likely motivated by career advancement rather than income. Again, check your contract, but a side hustle may very well be permissible as long as it doesn’t interfere with your work. If you are working in your field, though, it could be a good idea to seek your advisor’s permission in advance.

What Does Your Advisor Think?

The person with the most important opinion on your side hustle–after you–is your advisor. Allowed, disallowed, frowned upon… The status of side hustling in the eyes of your university, department, or funding agency is less important than its status to your advisor. If your advisor is an unforgiving taskmaster who expects his myopic view of the supremacy of research to be adopted by his trainees, a side hustle is a very risky endeavor. However, if your advisor is a reasonable and kind person who respects work-life balance, it may be better to ask for forgiveness rather than permission if your side hustle is discovered and viewed negatively.

The Bottom Line: The Spirit of the Law

The spirit of the law when it comes to side hustling during graduate school or your postdoc is that it should not distract from your training. (This sentiment does not apply to visa holders; the letter of the law is most important in that case.) Financial and career stress itself can easily distract from training, so it may be a matter of choosing the lesser of two ‘evils.’

Prohibitions against outside income make sense when the income comes from a part-time job with fixed hours (meaning that you wouldn’t be able to stay late in lab if necessary) or if it takes so much time overall that you can’t complete your work healthily. But I don’t find prohibitions against outside work that doesn’t interfere with the student or postdoc’s primary ‘job’ any more logical than prohibitions against having a family or a hobby (assuming no conflict of interest).

Ultimately, rules or no rules and advisor’s opinion aside, you are the only person who gets to decide whether to pursue a side hustle. You are the one who will manage it and make sure that it enhances your PhD training instead of detracting from it.

Types of PhD Side Hustles and Examples of PhD Side Hustles

I break side hustles for PhDs into four categories: ones that advance your career, ones that you enjoy, ones that pay well (enough), and passive income. A side hustle that pays well and advances your career is ideal. If you can’t achieve that, doing something you enjoy is obviously preferable to doing something that you dislike or feel neutral toward that simply pays some bills. Passive income is outside of this ranked order as it doesn’t involve trading time directly for money.

By the way, if you are looking for a way to increase your income that your advisor would be totally on board with, try applying for a fellowship. I’ve created a guide to applying for and winning fellowships that includes a list of broad, portable fellowships that pay full stipends/salaries.

Further reading: How to Find, Apply for, and Win a Fellowship During Your PhD or Postdoc

PhD Side Hustles that Advance Your Career

There’s no better type of side hustle than one that pays you and helps you along in your career. Through this type of side hustle, you put your current skills to use, learn new skills, expand your network, and/or explore a possible career path. Often, this sort of side hustle is related to your current field of research or uses skills you’ve honed during your PhD. You might even be able to start working for a potential future employer while you’re still in training.

Examples of PhD side hustles that advance your career are:

• Teaching ( Derek )
• Zoo and aquarium evaluation ( Kathayoon )
• Design ( Mark )
• Data science ( Edward )
• Freelance writing ( Derek )
• Freelance academic writing ( Vicki )
• Freelance scientific paper editing ( Julie and Amy )
• Freelance scientific paper editing ( Jenni )
• Thesis/dissertation editing
• Scientific research summer internship ( Alice )
• Engineering summer internship ( David )
• Science policy fellow ( Emily )
• Research analyst for investor relations ( Adam )
• Online professor ( Kathayoon )

PhD Side Hustles that You Enjoy

Sometimes an enjoyable hobby can be monetized or you can find meaning and delight in a side hustle. This kind of side hustle is one you would likely spend some time doing even if you weren’t being paid and can be particularly revitalizing during the long slog of your PhD or postdoc.

Examples of PhD side hustles that you might enjoy are:

• YouTube ( Shannon )
• Singing ( Meggan )
• Piano ( Kathayoon )
• Fitness classes ( Anonymous )
• Resident advising for graduate students ( David )
• Resident advising for a fraternity ( Adrian )

PhD Side Hustles that Pay the Bills

If the only purpose a side hustle fulfills is bringing in some money, it’s done its job. Sometimes these pursuits are necessary for survival, but you shouldn’t spend any more time on them than absolutely necessary.

Examples of PhD side hustles that (likely) simply bring in income are:

• Food service

PhD Passive Income

Passive income has become a bit of a buzzword in recent years. Ostensibly, passive income occurs after you make some kind of investment that then pays a residual.

Making a monetary investment in a rental property or dividend-paying stock is a classic example of passive income. The former is definitely a possible income source for a PhD who owns her own home.

Further reading: Should I Buy a Home During Grad School?

If you don’t have money up front, you can “invest” your time and talent into a product that people will buy over time. The classic example of that type is an author who is paid a royalty with each book sale.

The current fad incarnation of passive investing is a promise that you can “make money while you sleep!” through online business, generally selling previously created digital products. ( I do this in my business. ) However, almost no online business runs for long without input of time and labor. The upside for a graduate student or postdoc, however, is that the large time investment needed up front to generate passive income and the maintenance over the long term can generally be performed on your own schedule and under the radar.

Examples of PhD side hustles that are passive income:

• Writing (i.e., published author)
• Patent holder (licensed)
• Flash cards and ebook ( Alex )
• Investing for current income
• Landlording

Balancing Your Side Hustle with Your PhD Work

Figuring out how to make money and settling into a groove of earning a side income can be exciting. It can even be more gratifying at times than your research as research is basically a series of failures punctuated by occasional successes. In those weeks and month when nothing is going right in your research, being able to turn to an activity with a known outcome ($$!) can be a welcome relief. However, you should not forget why you are pursuing the side hustle in the first place: to finish your PhD and pursue a certain career. (Of course, your side hustle may spur you to leave your program, but only do so after serious reflection! It shouldn’t be about the side hustle per se but a carefully considered evolution of your career plans.)

To that end, there are a few strategies you can use to make sure your side hustle complements and does not compete with your primary role:

1) Track Your Time

Set weekly limits for yourself on the amount of time you will spend on your role as a graduate student or postdoc vs. on your side hustle. If your time spent side hustling creeps too high or your time spent on research dips too low, you know you need to readjust. Expect your weekly time goals to change throughout the seasons of your PhD training.

2) Set Geographic and/or Temporal Boundaries

It’s best if you conduct your side hustle in a different location than your primary PhD workspace; for example, you could work from home on your side hustle and never in your office or on campus. An alternative to geographic boundaries is temporal boundaries, such as never working on your side hustle during daytime working hours. The exact boundaries you set will depend heavily on the nature of both your PhD work and your side hustle.

3) Choose a Flexible Side Hustle

An ideal side hustle for a PhD is one that can be accomplished from anywhere at any time and ramped up or down depending on how busy you are with your research. This is not realistic for all side hustles, but the more axes of flexibility yours has the better it will complement your primary job.

4) Keep Your Side Hustle Quiet (If Possible)

An internship or professional fellowship that requires time away from your graduate program or postdoc obviously can’t be kept secret, but many other side hustles can fly under the radar of your advisor and department if you want them to. The seriousness of the possible repercussions or how “frowned upon” side hustling is should dictate how open you are about your pursuit. Keep in mind that a side hustle in your current field of research may very well get back to your advisor as communities are quite small, so in that case it may be better to be completely above board.

Best Financial Practices for Your Side Hustle

Most side hustles are independent contractor or self-employment positions, which means that you become an entrepreneur (or solopreneur) of a kind. There are some common best practices in self-employment you should put in place from the start of your side hustle.

Further reading:

• Best Financial Practices for Your PhD Side Hustle
• How to Pay Tax on Your PhD Side Hustle

1) Use a Separate Business Checking Account

Separating your personal transactions from your business transactions at the account level will help you keep track of exactly how much money you are earning after expenses and what is deductible on your tax return. You can make periodic transfers from your business account to your personal account to pay yourself.

2) Set Aside Money for Tax Payments (Quarterly or Annually)

Your PhD side hustle generates (potentially) taxable income, subject not only to income tax but also in many cases self-employment tax. Add your marginal tax brackets at the federal, state, and local levels together with the FICA tax you must pay, and set aside that fraction of each of your side hustle paychecks to ultimately pay the extra tax. If you earn enough in your side hustle compared to your primary job, you eventually will need to start paying quarterly estimated tax. Fellowship recipients who don’t have automatic tax withholding are already familiar with this process. Even if you aren’t required to pay quarterly, expect a larger year-end tax bill.

Further reading: The Complete Guide to Quarterly Estimated Tax for Fellowship Recipients

3) Give your Earnings a Job

The best way to ensure you don’t blow your side income is to assign it a job to be completed as soon as it hits your personal account. You could pay a specific bill or two with your side income or only allow yourself certain indulgences from your side income. For example, Jenni saved her side hustle earnings for travel.

Closing Advice and Thoughts from PhD Side Hustlers

“Honestly, it kept me sane to have other things going on… [They] helped me to finish my dissertation more quickly because I was more focused on the time I had, instead of having lots of unstructured time to work.” – Kathayoon

“I’d encourage graduate students to pursue a lot of different opportunities while in school, even ones that are at a slant from what they usually do. It’s easy to get tunnel vision as a grad student, but if you open yourself up, you can develop really useful skills while reinvigorating your academic work.” – Derek

“I definitely recommend finding something in grad school that’s unrelated to the work you do, monetized or not, so that if all your experiments fail one week, you still have something meaningful to throw yourself into.” – Shannon

“This experience was critical for my transition out of graduate school. I ended up getting a full-time offer at the same company after maybe 2 months of hourly work and have been there for almost 2 years now. The best part was that I had an opportunity to try out my job before starting full-time. How else do you know if you want to launch a career in a certain field?” – Adam

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Do PhD Students Get Paid? Phd Stipend, Salary, Research Grants

When starting your journey into earning a PhD, one of the biggest questions would be the funding. Will you make enough to support yourself throughout the study period? On top of that, there are also issues such as study fees to think about. 

In this post, we explore if PhD students get paid, and if these income are enough to support you throughout your studying period.

Do PhD Students Get Paid? 

In short, yes. Many PhD students actually receive some form of financial help, although the question of “how much” is more complex. 

The most common forms PhD students get paid are either through a stipend, or some form tuition waivers.

PhD Stipend & Salary

PhD stipends are a form of financial support, not a salary. They are primarily designed to cover living expenses, allowing students to focus on their dissertation without the need for a part-time job. It may not make sense to consider these stipend as a fully salary.

PhD programs often provide stipends through teaching or research assistantships. As a teaching assistant, you usually help in:

• Administering or coursework,
• Running seminars, or
• Assisting faculty members. 

Research assistantships, on the other hand, align more closely with your field of study, offering hands-on experience in paid research.

The amount of these stipends can vary depending on the field of study and institution. These stipends can range from enough to live modestly to higher amounts in top universities or private companies.

For example, STEM fields generally offer higher stipends due to larger research grants.

Tuition Waiver

In some universities or countries, PhD students may not get any stipend, or allowance. Instead, they get tuition waivers as a form of financial help.

Essentially, these waivers mean that PhD students often don’t pay for their coursework. This can come as a relief, especially when tuition costs are not very high, up to thousands of dollars annually. 

Why do universities offer this? It’s to attract the best candidates and make doctoral education more accessible.

For instance, in STEM fields, where research is heavily funded, tuition waivers are almost a given. This also applies to the social sciences, though the extent of waivers might vary depending on funding availability.

In addition to tuition waivers, some generous universities and countries may also top this up with a stipend. This stipend is meant to cover living expenses, allowing students to focus on their dissertation rather than worry about financial strain.

It’s important to note that while stipends help with living costs, tuition waivers remove the burden of tuition fees entirely. There are also funders that will pay for even things such as books, clothing, thesis, or publication costs.

International students particularly benefit from tuition waivers, as they face higher tuition rates. Coupled with a stipend, these waivers make pursuing a PhD in a foreign country more feasible.

Do PhD Students Earn Enough To Live?

This depends on various factors, including the field of study, location, and the university’s funding structure.

However, you may assume while PhD students don’t get rich from their stipends, most find them sufficient to live on, especially when combined with tuition waivers and assistantships.

The key is understanding the financial package offered by your PhD program and planning accordingly.

PhD students typically receive financial support in the form of a stipend. This stipend is meant to cover basic living expenses, allowing you to focus on your dissertation. The amount varies widely.

For instance, stipends in STEM fields can be higher, owing to larger research grants. In contrast, stipends in the social sciences might be lower, reflecting the funding landscape of these areas.

In addition to stipends, many PhD students receive tuition waivers. This means you’re not paying out of pocket for your coursework, significantly reducing your financial burden. This is especially helpful for international students who often face higher tuition rates.

PhD students often supplement their income with teaching or research assistantships. These positions not only offer financial aid but also provide valuable academic experience. Assistantships typically cover a portion of tuition or provide a stipend, further easing financial stress.

The cost of living in the university’s location plays a crucial role. In cities with a high cost of living, stipends might not stretch as far, whereas in more affordable areas, you might find it easier to cover your expenses.

For a more concrete example, a PhD student in a European country or Middle East might receive a tax-free stipend, which is generally enough to live modestly but comfortably. Contrast this with a student in a high-cost city in the U.S., who might need to find additional income sources.

Can International Students In A PhD Program Earn Money?

If you are an International PhD student, you may wonder if you can earn money while pursuing your studies. The answer largely depends on the regulations of the host country and the specific terms of their visa.

In many countries, international PhD students are allowed to work, but there are restrictions on the number of hours they can work per week.

In the United States, international students on an F-1 visa can work up to 20 hours per week during academic terms and full-time during breaks.

In the UK, the rules are similar for students on a Tier 4 visa. These regulations are designed to ensure that work doesn’t interfere with the primary purpose of their stay, which is education.

Apart from part-time jobs, many international PhD students earn money through teaching or research assistantships offered by their universities. These positions not only provide financial support but also valuable experience in their field of study.

Assistantships typically involve assisting professors with teaching undergraduate courses or participating in research projects.

Additionally, some international students receive stipends as part of their PhD program. These stipends are intended to cover living expenses and are a common form of financial aid in graduate studies. However, it’s important to note that the availability and amount of stipends can vary widely between programs and institutions.

For those who need additional financial support, applying for scholarships, fellowships, or grants specific to international students can be a viable option. These forms of financial aid can provide substantial support, though they often come with their own set of requirements and limitations.

How To Earn More Money As A PhD Student?

Earning more money as a PhD student can be challenging, but there are several ways to supplement your income:

• Teaching Assistantships : Many universities offer teaching assistant roles to PhD students. These positions typically involve assisting professors with undergraduate classes, leading discussion sections, or grading assignments.
• Research Assistantships : If your field of study aligns with funded research projects at your university, applying for a research assistant position can be a lucrative option. These roles involve assisting with research, which can also contribute to your dissertation.
• Fellowships and Grants : Applying for fellowships and grants can provide additional funding. They can be sourced from university departments, private foundations, or government agencies.
• Part-Time Work or Consulting : Depending on your visa status and university regulations, you might be able to take up part-time work or consulting gigs in your field. This can be especially profitable in STEM fields, where technical expertise is in high demand.
• Freelancing or Online Tutoring : Utilise your academic skills by freelancing or online tutoring. Platforms that cater to academic writing, data analysis, or subject-specific tutoring can be excellent sources of additional income.

PhD Students Do Earn Money, But Just Enough

While PhD students don’t receive traditional salaries, they often get financial support through stipends, assistantships, and fellowships.

These funds are designed to cover living expenses and tuition, making it feasible to pursue doctoral studies without significant financial strain. The amount varies by field and location, but generally, it’s enough to live modestly.

Ultimately, while PhD students aren’t earning hefty salaries, the support provided is a critical investment in their academic and professional development.

Dr Andrew Stapleton has a Masters and PhD in Chemistry from the UK and Australia. He has many years of research experience and has worked as a Postdoctoral Fellow and Associate at a number of Universities. Although having secured funding for his own research, he left academia to help others with his YouTube channel all about the inner workings of academia and how to make it work for you.

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PhD Salaries and Lifetime Earnings

PhDs employed across job sectors show impressive earning potential:

“…[T]here is strong evidence that advanced education levels continue to be associated with higher salaries. A study by the Georgetown Center on Education and the Workforce showed that across the fields examined, individuals with a graduate degree earned an average of 38.3% more than those with a bachelor’s degree in the same field. The expected lifetime earnings for someone without a high school degree is $973,000; with a high school diploma, $1.3 million; with a bachelor’s degree, $2.3 million; with a master’s degree, $2.7 million; and with a doctoral degree (excluding professional degrees), $3.3 million. Other data indicate that the overall unemployment rate for individuals who hold graduate degrees is far lower than for those who hold just an undergraduate degree.” - Pathways Through Graduate School and Into Careers , Council of Graduate Schools (CGS) and Educational Testing Service (ETS), pg. 3.

Average salaries by educational level and degree (data from the US Census Bureau, American Community Survey 2009-2011, courtesy of the Georgetown University Center on Education and the Workforce):

The Bureau of Labor and Statistics reports higher earnings and lower unemployment rates for doctoral degree holders in comparison to those with master’s and bachelor’s degrees:

According to national studies, more education translates not only to higher earnings, but also higher levels of job success and job satisfaction:

“Educational attainment – the number of years a person spends in school – strongly predicts adult earnings, and also predicts health and civic engagement. Moreover, individuals with higher levels of education appear to gain more knowledge and skills on the job than do those with lower levels of education and they are able, to some extent, to transfer what they learn across occupations.” - Education for Life and Work (2012), National Research Council of the National Academies, pg. 66.

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Psychologist Salary Info: The 9 Highest Paying Careers

Which psychology jobs pay the best salary?

Kendra Cherry, MS, is a psychosocial rehabilitation specialist, psychology educator, and author of the "Everything Psychology Book."

Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital.

Psychology can be a high-paying job, but it is important to recognize that there is tremendous diversity among psychology professions, and  salaries and yearly earnings are just as varied. In a struggling economy, many students have turned their interest toward some of the highest-paying careers in psychology. The highest-paying psychologist career salaries average around $167,000.

While many psychology careers have a higher-than-average yearly salary, it is important to remember that actual income depends upon various factors, including geographic location, employment sector, educational background, and years of experience.

Learn more about some of the highest-paying psychology careers, the typical salaries for such professions, and the educational requirements for entering these fields.

Psychiatrist

Average Salary:  $216,090 per year

Educational Requirements:  Considered a medical career, psychiatry is significantly tied to the study and application of psychology. Approximately eight years of post-undergraduate study. After earning a bachelor's degree, aspiring psychiatrists must graduate from medical school and then complete a four-year residency.

Psychiatry is one of the highest-paying fields tied to psychology. However, salaries can vary considerably within this field depending upon your specialty area , where you are employed, and the type of work you perform.

Industrial-Organizational Psychologist

Average Salary: $105,310

Educational Requirements: In most cases, a master's degree in psychology is the minimum training required, although having a doctorate degree may be to your advantage. While there are opportunities available at the master's degree level, earning a doctorate degree in industrial-organizational psychology offers greater opportunities and higher salaries.

Industrial-organizational psychologists use their knowledge of psychology to tackle workplace issues. Increasing worker productivity, selecting the best employees for particular jobs, and developing market research surveys are just a few things that an industrial-organizational psychologist might do.

The Bureau of Labor Statistics reports that I/O psychologists in the scientific research and development industry earned an average annual wage of $122,660. Those employed at colleges, universities, and professional schools earned an average of $110,070.

According to the Society for Industrial and Organizational Psychology , the average salary for a doctorate-level consultant was $167,000.

Neuropsychologist

Average Salary: $90,460 per year

Educational Requirements: A doctorate degree in neuropsychology or clinical neuropsychology is needed to work in this field.

Neuropsychologists specialize in the study of the brain and cognitive science.   People who work in this field often perform cognitive tests, run brain scans, assess people suffering from brain injury, and study how drugs impact the nervous system. They may work at colleges and universities, hospitals, research centers, mental health clinics, and pharmaceutical labs.

Clinical Psychologist

Average Salary: $81,330 per year

Educational Requirements: In most states, clinical psychologists must have a doctorate degree in psychology. In addition to this education, they must also complete one to two years of supervised residency and pass state licensing exams in order to practice as a licensed clinical psychologist.

Clinical psychologists are trained in assessing, diagnosing, treating, and preventing mental illness. This is also the largest area of employment within psychology. Clinical psychologists work in various settings, including hospitals, mental health clinics, and private practice.

The Occupational Outlook Handbook reports that in May 2019, those employed in individual and family services earned an average of $85,140. Those employed in the offices of other health practitioners earned an average of $100,300 per year.

Engineering Psychologist

Average Salary: $79,818 per year

Educational Requirements: Entry-level positions require a master's degree, but those with a doctorate will find greater employment opportunities and better salaries.

Engineering psychologists work to improve the design of systems, operations, and equipment in order to increase efficiency, improve productivity, and minimize injury. As with other specialty areas of psychology, the area of employment plays a major role in determining salary. Engineering psychologists who work in the private sector earn considerably more than those employed in university settings.

Counseling Psychologist

Average Salary: $72,540 per year

Educational Requirements: A PhD, PsyD , or EdD degree is required to become a counseling psychologist.

Counseling psychologists perform many of the same tasks as clinical psychologists such as offering psychotherapy and mental health treatment, but they typically work with clients suffering from less severe forms of mental illness.

While mental health is one of the largest areas within counseling psychology, some people in this field opt to conduct research. They also teach university courses or provide vocational counseling.

Forensic Psychologist

Average Salary: $59,440

Educational Requirements: While there are some jobs available with a master's degree, you will typically need a doctorate degree in clinical, counseling, or forensic psychology.

Forensic psychologists deal with psychological issues related to the law. Some of the duties that a professional in this field might perform include developing psychological profiles of criminals, dealing with child custody issues, investigating child abuse, providing expert testimony, preparing witnesses to testify in court, and offering training to law enforcement.

School Psychologist

Average Salary: $58,360

Educational Requirements: Most states require completing a 60-credit school psychology specialist program, which leads to a master's or EdS degree. Approximately 32% of school psychologists hold a PhD , PsyD, or EdD degree.

School psychologists work within the educational system to diagnose and treat behavior and learning problems in children. They often collaborate with other professionals, including teachers and doctors as well as parents, to help kids overcome social, emotional, behavioral, and academic problems.

According to the Occupational Outlook Handbook published by the U.S. Department of Labor, jobs in this field are expected to grow by approximately 10% over the next decade.

Sports Psychologist

Average Salary:  $55,000 per year

Educational Requirements:  Most jobs require a master's or doctorate degree in sports psychology or in related areas such as clinical or counseling psychology. Sports psychologists  are interested in the psychological components of sports and athletics.  

Professionals in this field often focus on topics such as  motivation  and athletic performance. They utlizie their knowledge of psychology to help athletes perform better or to help people recover from sports injuries.

While salaries for sports psychologists typically range between $60,000 and $80,000, those working with professional athletes often earn over six figures.

What Psych Career Is Best For You? Take the Quiz

This fast and free psychology careers quiz can help you get a better sense for which kind of psychology career might be the best fit for your personality, career interests, salary needs, and more.

Frequently Asked Questions

While specific salaries vary depending on factors including experience and location, psychiatry tends to be the highest-paying psychology-related career.

They can! However, it is important to recognize that individual salaries vary a great deal. According to the U.S. Bureau of Labor Statistics, the median salary for psychologists is $81,040. However, the lowest paid 10% made less than $47,850 per year. Your own salary may depend on factors such as your specialty, training, experience, area of employment, and geographic location.

Psychology can be a good career if it is suited to your interests and goals. The field is expected to experience modest growth in the coming year, and there are always opportunities for growth depending on where your interests lie. The growing need for mental health services and an aging population means that there will be a need for trained psychologists.

A Word From Verywell

Choosing a career is a big decision, and the salary is just one of many factors you need to consider. Money is an important component, but factors such as job outlook and quality of life are also essential.

So is becoming a psychologist worth it? Only you can decide. Think about how a particular career may suit your personality and goals in life before committing. In the end, the best job for you is the one you will enjoy the most and fulfills your personal and professional needs.

Zavlin D, Jubbal KT, Noé JG, Gansbacher B. A comparison of medical education in Germany and the United States: from applying to medical school to the beginnings of residency. Ger Med Sci. 2017;15:Doc15. doi:10.3205/000256

Torpey E. Business careers with high pay.  Career Outlook,  U.S. Bureau of Labor Statistics, 2016.

Kossek EE, Baltes BB, Matthews RA. How Work-Family Research Can Finally Have an Impact in Organizations. Ind Organ Psychol . 2011;4(3):352-369. doi:10.1111/j.1754-9434.2011.01353.x

U.S. Bureau of Labor Statistics. Occupational employment and wages, May 2021: 19-3032 industrial-organizational psychologists .

Society for Industrial and Organizational Psychology. The SIOP income and employment report is here !

Harvey PD. Clinical applications of neuropsychological assessment. Dialogues Clin Neurosci. 2012;14(1):91-9.

Wahass SH. The role of psychologists in health care delivery. J Family Community Med. 2005;12(2):63-70.

U.S. Bureau of Labor Statistics. Occupational employment and wages, May 2019: 19-3031 clinical, counseling, and school psychologists .

Iudici A, Salvini A, Faccio E, Castelnuovo G. The clinical assessment in the legal field: An empirical study of bias and limitations in forensic expertise. Front Psychol. 2015;6:1831. doi:10.3389/fpsyg.2015.01831

Burrow-sanchez J, Call ME, Adolphson SL, Hawken LS. School psychologists' perceived competence and training needs for student substance abuse*. J Sch Health. 2009;79(6):269-76. doi:10.1111/j.1746-1561.2009.00409.x

U.S. Bureau of Labor Statistics. Psychologists: Job outlook . Occupational Outlook Handbook .

Röthlin P, Birrer D, Horvath S, Grosse holtforth M. Psychological skills training and a mindfulness-based intervention to enhance functional athletic performance: design of a randomized controlled trial using ambulatory assessment. BMC Psychol. 2016;4(1):39. doi:10.1186/s40359-016-0147-y

American Psychological Association. Hot careers: Sports psychology .

• U.S. Bureau of Labor Statistics. Occupational Outlook Handbook. 

By Kendra Cherry, MSEd Kendra Cherry, MS, is a psychosocial rehabilitation specialist, psychology educator, and author of the "Everything Psychology Book."

5 Ways PhD Students Can Earn Money while Studying

Most grad students face this dilemma at one point or another: the stipend they receive (if they receive one at all) just isn’t enough to get by. You generally don’t have a lot of time to contribute to an outside job but you need the money, so it’s key to find one with the highest possible hourly rate.

Here are a few of the most popular part time jobs for grad students:

Bartending/Wait Staff

You can make a good hourly wage bartending and serving, especially if you’re a people person. And, the hours can be flexible—days or evenings—around a crazy grad student schedule. Even if you’ve never done this before, many places will still hire you. And when it’s slow, you can catch up on your reading or have a co-worker run through your oral exam flashcards with you.

Find a moderately wealthy neighborhood, especially one where many children go to a private school, and put up posters in the local café advertising tutoring by a PhD student . Families will often pay upwards of $50 an hour for you to help junior with his 7 th grade math homework.

Freelance Writing

Especially for grad students in the humanities, finding work as a freelance writer can be easy and can afford you a decent hourly rate. Look online at websites that provide you such opportunities.

Related: Are you a PhD student looking for work? Check out these “earn while you learn” options!

Freelance Textbook Editing

Many textbook publishing companies use “subject-matter experts” to help them write their textbooks. You are a subject matter expert! Ask around and see if any of your colleagues have done this work. If not, the next time you’re at a conference, find a few of the major textbook publishers in your field and ask them about contract work.

Teach a Class at a Local Library or Community College

Look in your area for local libraries and community colleges that offer courses. What can you teach that these places might want to offer their students? Your courses can often resemble a 100-level intro college class, so this is good experience.

While there are plenty of other jobs you can do—babysitting, errand running service, coaching, or substitute teaching at a local school. These jobs are few that will get you the best pay per hour, at least in the United States. Other ideas? Leave a comment and share the wealth!

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Do PhD Students Get Paid?

Starting your doctoral program brings with it plenty of exciting new questions. For instance, what classes will you take? What area of study will your dissertation focus on? What renowned faculty will you have the chance to work alongside? What fulfilling career will you pursue after graduation?

Another question you might be pondering: do PhD students get paid? The answer can look different depending on your unique financial situation, your school, and your chosen course of study. While PhD students generally don’t earn a traditional salary, there are a number of ways they may be able to financially sustain themselves while earning their degree, like pursuing paid fellowships, paid research opportunities, or part-time or freelance employment. 

Read on to learn the different ways you might earn money as a PhD candidate.

Teaching Assistantships

One of the most common ways that PhD students may be able to earn money while completing their degree is by working as a teaching assistant, or TA. Teaching assistants may be paid either through the Federal Work-Study program (as part of an overall financial aid package) or through institutional funds. 

Working as a teaching assistant can be an excellent way to get hands-on experience in the classroom, which may be helpful if you plan on going into the world of academia after graduation. As a teaching assistant, you’ll have the chance to work alongside experienced professors and deepen your own knowledge through pedagogy.

As a teaching assistant, your duties might include : 1

• Evaluating and grading papers and exams
• Proctoring and observing exams
• Leading seminars and discussions
• Meeting with students after class hours for assistance
• Assisting the professor with any administrative work or research related to the course

Paid Fieldwork or Research Fellowships

Many PhD programs require candidates to complete fieldwork or research as part of their coursework. Depending on what you’re studying, this could include:

• Supervised work with clients in a clinical setting
• Research in the field or in a laboratory
• Archival work
• Assistant work for professors or researchers 

Some of these programs can also be paid , but it’s important to keep in mind that these stipends are considered taxable income.

You can also look into applying to paid research fellowships. These fellowships can provide financial support while also encouraging PhD candidates to gain experience in underserved or understudied areas of research. For example, the American Psychological Association offers several different fellowships for doctoral candidates through its minority fellowship program, including: 2

• Mental Health and Substance Abuse Services Doctoral Fellowship – A doctoral fellowship that focuses on culturally competent training in behavioral health services for minority populations.
• Services for Transition Age Youth Fellowship – A doctoral fellowship that provides training in mental health services for ethnic youth between the ages of 16 and 25.
• Leadership and Education Advancement Program for Diverse Scholars – A mentorship and development program that focuses on building research and leadership skills in early-career scientists.
• Interdisciplinary Minority Fellowship Program – A program aimed at increasing the number of minority mental health providers while also improving mental health care for racial and ethnic minorities with mental or substance abuse disorders.

Research fellowships or teaching assistantships are more than just a way to pursue earning extra income– they’re also a great opportunity for building connections and earning hands-on experience that may serve you well once you’ve begun your career.

Part-Time Work

While you most likely won’t have the time (or the mental energy) for a full-time job as a PhD student, you might be interested in pursuing part-time or freelance work that can more easily fit into your schedule.

When searching for a part-time job, it’s important to consider work that you can easily balance against your rigorous coursework and study schedule. It’s also important to make sure you can still reserve time for yourself to relax and recharge. 

Some examples of part-time or freelance jobs that might be a flexible fit for a PhD student’s busy lifestyle include:

• Freelance writing or graphic design 
• Driving for rideshare services, like Uber or Lyft
• Bartending, waiting tables, or working as a barista
• Private tutoring for in-demand areas, like SAT prep or language classes
• Babysitting or nannying
• Walking dogs or house sitting
• On-campus positions, such as working as a library clerk
• Remote positions, like data entry or customer service
• Work that allows you to pursue an existing passion, like selling art on Etsy or teaching fitness classes

Earning Money as a PhD Student

While you might not be earning a traditional salary as a PhD student, there are still a number of avenues that you can pursue to earn money and gain new experiences. Whether you choose to spend time in the world of academia as a teaching assistant, in the laboratory during a research fellowship, or at a part-time job, there are options you can explore to supplement your income.

At Alliant International University, we understand that students are busy pursuing an income, as well as an education. That’s why we offer a number of flexible doctoral degree programs, so you can continue your education while maintaining your work schedule. If you’re interested in learning more, don’t wait— request information on Alliant’s programs today!

•  “Graduate Teaching Assistant Job Description, Salary | Resilient Educator.” ResilientEducator. 2020. https://resilienteducator.com/teaching-careers/graduate-teaching-assist… . Accessed January 30, 2022.
•  “Psychology Fellowships and Programs.” APA. 2021. https://www.apa.org/pi/mfp/psychology . Accessed January 30, 2022.
•  Sims, C., 2021. “My 11 part-time jobs made me a better PhD student.” Nature. January 13, 2021. https://www.nature.com/articles/d41586-021-00089-w . Accessed January 30, 2022.

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18 High Paying Side Hustles for Grad Students (Ultimate 2024 List)

Attending graduate school is a massive accomplishment and it can be one of the best investments you can make.

However, it does come with a cost. The average cost of attending graduate school is around $66,340 which is a large investment in your future.

Having student loans can make managing your finances much more difficult and that's where starting a side hustle can help.

A side hustle can provide some much-needed financial relief and help you stay on top of your studies.In this post, I'll explore some of the best side hustles for grad students, how much money you can make, and much more . Let's get started!

• Delivering food with Doordash
• Pet sitting with Rover
• Starting a blog, podcast, or YouTube channel

Best Side Hustles for Grad Students

1. deliver food with doordash.

One of the best side hustles for college and grad students is food delivery with apps like Doordash .

With this side hustle, you can work the hours you want – which can be especially helpful for busy students.

And the pay can be better than you think. You can earn $25 an hour delivering food in most areas but sometimes even more. Plus, you get to keep 100% of your tips!

This person worked an entire week with Doordash and made over $1,500! Not bad!

Food delivery is a great side hustle if you live in a college town because there are so many students looking for food – meaning you can make money.

To get started, simply sign up below and start taking orders in your area. You can also learn how to make $500 a week with Doordash here!

2. Earn Money with Instacart

Instacart is another solid option if you want to use apps that pay you to drive . With this side hustle, you can pick up groceries for customers and deliver them to their doorstep. It's very similar to food delivery except instead of food, it's groceries.

The amount of money you can make will depend on your area but it's possible to earn over $25 per hour in some locations.

I've found that you can make more money with food delivery because of the amount of tips you can get, but grocery delivery is still worth it if you want a flexible schedule where you can work your own hours.

Be sure to check out these Instacart hacks to make more money before getting started!

3. Tutor Students

Looking for a hihger paying side hustle?

Tutoring is an excellent way to make extra cash while attending graduate school.

Not only will you be able to make some extra money, but you'll also be able to learn more about a subject yourself.

The amount of money you can make tutoring will depend on the subject you're teaching and your level of expertise.

Some tutors can make over $60 an hour for their time which is a great income for any grad student!

To find work, try posting your services on social media or browse online marketplaces like Craigslist.

If you're looking for a side hustle you can start with no money , this is for you!

4. Work as a Virtual Assistant

Working as a virtual assistant is a great side hustle for many people in school because of the flexibility it provides.

For many VAs, you can work nights or weekends which is perfect if you have a busy school schedule.

What exactly is a virtual assistant?

In simplest terms, a virtual assistant is someone who can work to complete tasks for a person or business. This could include things like posting on social media, updating website content, or sending and responding to emails.

VAs are typically hired by online business owners or entrepreneurs who need assistance with the day-to-day tasks of running their business.

The pay will depend on your skills and qualifications, but some virtual assistants can make over $25 per hour for their time. For example, take a look at these VAs I found on Upwork.

To find work, you can browse freelance sites and Facebook groups or connect directly with online business owners or bloggers to see if they need help.

If you're interested in getting started as a VA, I highly recommend Carrie's Virtual Assistant Accelerator course to learn how to become a VA and land your first clients!

5. Take Online Surveys

Taking online surveys is a great way to make money online for graduate students because you can do it whenever you have free time, like between classes or during your commute.

Taking surveys isn't going to make you rich by any means, but it's a good way to earn a few bucks for your time.

As a bonus, many of these apps will give your free money just for creating a new account.

Some of my favorite survey sites that pay cash include:

• Rakuten Insight
• InboxDollars

6. Pet Sit with Rover

Looking for an easy side hustle?

Dog sitting is a simple and easy way to make money from the comfort of your own home. Some people would consider this a passive side hustle because you don't really need to do much work at all to earn money.

By using a platform like Rover you can easily find pet sitting jobs in your area to start making money.

The amount of money you can make will depend on your city and the number of animals you're watching but it's possible to make $50 a day or more.

Create your free account below to get started!

7. Become a Freelance Writer

Freelance writing is one of my favorite side hustles for just about anyone. There are tons of benefits and the pay can be lucrative making it a great choice for those in grad school.

Working as a freelance writer will allow you to work on your own time and complete assignments when it's convenient for you, making it a great option for students.

As far as pay is concerned, you can earn a great living freelance writing. I know many writers who have made it their full-time job!

Depending on your work, it's possible to earn over $100 an hour for your writing.

Some jobs will opt to pay you per word written. In these cases, I've found that it's possible to earn up to $.50 per word or more. And for beginners, you can charge $.10 per word.

To find work, you can use freelance sites like Upwork and Fiverr or you can try connecting directly with business owners who might need your services.

Another hack I've found to find clients is networking with other freelance writers. If they don't have time to accept new clients, they will often send work your way!

If you're looking for a flexible and high paying side hustle – you can't go wrong with freelance writing.

Here's a great guide on how to get started.

8. Work as a Research Assistant

As a graduate student, you likely have a lot of knowledge and research experience in your field of study.

This knowledge can be valuable to other researchers who might need help with their own projects.

Working as a research assistant is a great way to use your skills and knowledge to earn money on the side.

According to Glassdoor , you can earn around $41,000 as a grad school research assistant with little experience.

9. Work as a TA

Teaching assistantships are a great way for graduate students to earn money while also getting some experience in the classroom.

TA positions are usually available through your school's department of education so you can check with your department or search online for open TA positions.

The pay for TA positions will vary depending on the school and the position, but you can expect to earn at least $15 per hour for your time, if not a little more.

Here's one opportunity I found in my area.

10. Teach English Online

If you don't want to tutor a certain subject but you love helping other students, teaching English can be a good way to make extra cash on the side.

Whether you're a PhD student or you're getting a Masters degree, you can teach English online whenever you have a few hours on week nights or weekends.

The amount of money you can make will depend on the company you work for, but most companies will pay between $10 and $25 per hour.

11. Start a Blog

Blogging is a fun and lucrative way to make money online for anyone in grad school. With this digital side hustle , you'll get to explore your passions and share them with the web while making some money along the way.

Starting a blog doesn't cost much and in many cases can cost less than $100 a year, making it perfect for graduate students.

You can then monetize your blog through display advertising, sponsorships, affiliate marketing, and more.

Some bloggers are capable of making over $10,000 every month from their website making it a great way to make money while at school .

For example, one of my blogs earned over $5,000 a month last month just from display ads alone!

Now, building a successful blog takes a ton of time and work, so don't expect to make a fortune overnight.

In many cases, it could be a few months before you make your very first dollar so if you need money desperately – you might want to choose another side hustle.

That said, if you want to make passive income online – blogging is a tremendous option that I would highly recommend.

You can get started by registering your domain with Namecheap and then securing your hosting with SiteGround . Check out the video below to learn exactly how to start a blog.

12. Become a Podcaster

Just like with blogging, podcasting can be a fun way to earn money while working on your graduate degree.

When it comes to podcasting, you'll need to do some work upfront to get started but you can make enough money with this side hustle to justify the effort.

To get started, you'll need some basic equipment like a microphone, audio editing software, and a computer. While you don't technically need these items, I believe if you're serious about your podcast you should invest a little bit of money off the bat.

Next, you'll want to determine the format of your show. Will you have guests? Or will your show be produced solely by yourself?

Either way, it's important to find what works for you.

Next, it's time to hit record and start taping your episodes before uploading them to podcasting platforms for the world to find.

Once your podcast is live, it's all about promoting your show to gain listeners. While this can be difficult, it's also an essential step to becoming profitable.

Once your show has a certain number of listeners, you can monetize it by offering show sponsorships and using affiliate marketing.

Some podcasts can make over $50k a month – talk about a serious money making machine !

Check out the video below for more help!

13. Build Websites

Looking for a side hustle that pays well and you can do from anywhere?

Making money building websites can be a lucrative side hustle option for many PhD students looking to work on their own hours.

With this side hustle, you'll need to be familiar with basic web development and some graphic design elements but you can find a number of online courses that can teach you the basics you'll need. Alternatively, if you're attending school for software engineering – this side hustle should be at the top of your list.

The amount of money you can make building websites can be lucrative. For example, most basic websites will cost over $1,000 to build and might take you less than a day to complete. More complex websites can cost over $10,000 and take a week or two to build.

If you want to make even more money, consider offering digital marketing services like scheduling social media posts, running Facebook ads, or conducting SEO audits so you can offer the full suite of marketing tasks.

14. Sell Your Old Notes

If you're in a PhD program or obtaining your Masters degree, there's a good chance your class notes can be very valuable for some future students.

If you want to make some cash on the side, start selling your notes online!

There are a number of websites that allow you to sell your notes, including Stuvia and Studynote.

The amount of money you'll make will depend on how popular your notes are as well as the price you set. Some people can make a few hundred dollars each year with this side hustle!

Here's some data from Stuvia on how much most people make!

15. Pick Up a Part Time Job

Part time jobs can be some of the quickest ways for graduate students to make extra cash.

While it's not the most fun way to make money, it can be a great option to pay the bills.

There are plenty of part time jobs available if you spend some time searching. If you live in a college town, many employers can offer flexible schedules built around your classes.

The amount of money you can make will vary but there are many jobs that pay $30 an hour or more.

16. House Sitting

House sitting is just like pet sitting with the lack of one thing: animals!

With house sitting, homeowners will pay you to watch over their house while they are away vacationing or traveling for work.

Most homeowners will want someone they can trust so this side hustle may require some references.

But once you get started, house sitting can be a great way to make money while getting free rent!

The amount of money you can make will depend on your city but it's possible to earn a few hundred dollars each week with this side hustle.

17. Complete Odd Jobs

There are plenty of odd jobs you can do to make money while attending college or university.

Between yard work, cleaning houses, and helping people move, there are plenty of opportunities to make some extra cash.

You can browse an app like Neighbor to find odd jobs in your area. The amount of money you can make will depend on the job but most tasks will pay $10-25 an hour.

18. Sell an Online Course

Selling online courses can be a great passive income source to make money while you sleep .

With this side hustle, you'll create a course on a topic you're passionate about and sell it to others online.

It can take some time to create a quality course but once it's live, you can make money each time someone buys it.

The amount of money you can make will depend on the price of your course and how many sales you can generate but some course creators are capable of making 6-figures from their business.

For example, this online course sells for $139 and has made a fortune.

Passive Income for Grad Students

Invest in real estate with arrived.

Investing in real estate is a great method to earn passive income for any grad student.

By using a platform like Arrived , you can take the hassle out of investing so you can get started quickly with just $100.

Arrived allows you to invest in individual rental properties and split a portion of the profits with other investors. This makes it the perfect way to start investing without needing a fortune.

Invest in the Stock Market with Acorns.

Investing in the stock market is another excellent option to make passive income and grow your money.

If you want to reach financial freedom, using the stock market is a simple way to build your compound interest so you can live life on your own terms.

With Acorns you can invest in a variety of stock market assets like index funds, dividend stocks, ETFs, mutual funds, and more.

As a bonus, they're giving new customers $20 completely free so create your account below to get started!

Not sure which investments to make? Check out these investments to make money daily !

Why Students Need a Side Hustle

Starting a side hustle can be advantageous for many reasons, especially as a student.

With student loan debt increasing at an unprecedented rate, it's essential to tackle these debts as soon as possible when starting your career.

Starting a side hustle can allow you to do this by providing some extra income each month.

In addition, a side hustle can help you develop important skills and network with professionals in your field.

This can be extremely beneficial when it comes time to look for a job after graduation.

Final Thoughts on Making Money While in Grad School

There are plenty of side hustles for grad students to make a little extra cash in their free time.

Between managing social media accounts and other freelance work or starting a blog, the options are out there to grow your income.

Attending grad school can be very difficult and you should certainly focus on your studies, but if you want to make some extra income to cover your living expenses, starting a side hustle is a great option. So what are you waiting for?? Find your side hustle and get started!

Recommended Reading

Illegal side hustles [25+ shady side hustles].

Illegal side hustles are more common than you think. Check out this list of illegal side hustles to avoid at all costs.

27 Easy Passive Side Hustles (2024 Guide)

If you're looking for a passive side hustle to earn money without working, give these options a try today!

21 Fun Side Hustles for Anyone (2024 List)

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• Health Communication
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• What Can You Do With a Public Health Degree?
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Home » Careers » Highest Paid Public Health Careers

Highest paid public health careers

There are many options for a successful career in public health, but it should be noted that you more than likely need a degree and that salaries vary by geographic location, cost of living, the company, and job roles or functions. If you are considering or looking for a job in public health, read our guide to learn about 10 high-paying public health jobs along with detailed information on top-paying locations and industries.

The sponsored program table featured on this page was last updated in November 2022. For the most current program information, please refer to the official website of the respective school . 

Sponsored online public health programs

Before considering a public health career.

To start a successful career in public health, individuals with an interest in the field need to start with the basics, so let’s review public health degrees and why they are important.

• Bachelor of Public Health (BPH) : The BPH degree is a common undergraduate option for college-going individuals with aspirations to enter the field. However, some learners opt for courses of study in health administration, nursing, informatics, or other healthcare disciplines. Many people who work in public health hold an MPH and most MPH programs require a bachelor’s degree in a health-related field. Therefore, a BPH can help you build a knowledge base if you’d like to pursue the route of an advanced degree. Both online and on-campus BPH programs are available. Explore our guide for an overview of BPH program options.
• Master of Public Health (MPH) : An MPH is not required to work in public health, but some public health professionals might recommend it for certain positions in both the private and public sectors. There are many different concentrations available to those who want to earn a specialized MPH degree — epidemiology, global health, community health, and environmental health are some of the common ones. There are plenty of traditional MPH programs and online MPH programs available.
• Doctor of Public Health(DPH) : The DPH degree is the terminal degree in the public health field. If you are looking to become a public health professor in a college setting or if you want to pursue a research position, you might consider continuing on to a DPH (also called DrPH) or PhD in public health program after your master’s education. Learn more about the DPH degree .

High-paying public health jobs

The following sections provide information on high-paying public health careers, according to the U.S. Bureau of Labor Statistics (BLS) , as well as an explanation of job functions and requirements to be considered for employment.

Biostatistician

Summary : $98,920 per year / Minimum of a bachelor’s degree

Statisticians are a vital part of public health research. Statisticians design experiments, questionnaires, and surveys to collect data on people and health. They analyze the collected data and create reports to highlight trends and explain their findings. Statisticians can work in many fields, but most are employed in government, healthcare, or research and development. Biostaticians, in particular, use statistical tools to research questions related to medicine and biology. They may look into new drugs on the market or the causes of diseases.

Degree requirements

An undergraduate degree in statistics will suffice for some entry-level jobs, but many roles require a master’s degree. Coursework in statistics and mathematics is necessary for entry into a master’s program. A master’s degree in statistics, when paired with biology or public health coursework, can lay the foundation for pursuing a career in biostatistics.

• Recommended or common degrees: Biostatistics degrees

Biostatisticians earned a median annual salary of $98,920 in 2022. The lowest 10% of professionals made less than $58,090 and the highest 10% earned more than $161,300.

Computer and information systems manager

Summary : $164,070 per year / Minimum of a bachelor’s degree

Computer and information system managers are tasked with the planning, coordination, and supervision of computer-related operations at their organization. In the context of public health, these experts, often referred to as clinical informatics specialists or information system managers, bear the responsibility of defining and addressing IT needs and goals for healthcare organizations. They may resolve software and hardware issues, install new computer systems, keep operating costs low, and orchestrate and oversee long-term strategies to make computer systems and medical record keeping safer and more effective. 

To become an IT manager, a bachelor’s degree in computer and information science or a related discipline is advised. However, if you’d like to combine your interests in computer science and healthcare, a master’s in healthcare informatics may be the best fit for you. Courses typically cover healthcare systems, health informatics concepts, data analytics, database design and implementation, and IT strategy and management courses.

• Recommended or  common degrees: Master’s in health informatics

As of 2022, the median salary for computer and information systems managers was $164,070 per year. The lowest 10% of professionals earned less than $97,430 and the highest 10% made more than $239,200.

Syracuse University

School of information studies, master’s in information systems executive program.

Bridge the gap between business and technology. Earn an online Master’s in Information Systems Executive Program with a certificate in Applied Data Science from Syracuse University.

• Complete in as little as 15 months
• No GRE scores required to apply

info SPONSORED

Postsecondary teachers

Summary : $80,840 per year / Minimum of a master’s degree

Individuals who seek a doctoral degree often do so with the aim of working in academia or conducting scholarly research. These professionals often focus their research on critical topics such as bioterrorism, vaccines, healthcare outcomes, mental health, and social behavior.

Some public health practitioners choose to also obtain their medical license and work as public health physicians or preventive medicine physicians, meaning they can diagnose and treat populations and individuals. These individuals often work for hospitals or government agencies and may also be on boards or serve as key members of other public health organizations.

Professors or postsecondary teachers in public health teach students at the undergraduate or graduate levels. While many professors hold doctoral degrees, some institutions may consider applicants with master’s degrees and substantial professional experience. Additionally, many professors may be expected to conduct research or be involved in various organizations related to their specialty. 

For those who are interested in preventive medicine, becoming a licensed medical doctor (MD) may be the career choice for you.

• Explore doctorate degrees in public health

The median annual salary for postsecondary teachers was $80,840 in 2022. The lowest 10% of these professionals earned less than $47,370 while the highest 10% earned more than $173,730. 

Emergency management director

Summary: $79,180 per year / Minimum of a bachelor’s degree

Emergency management directors prepare and develop plans to respond to natural disasters and other emergencies. They must assess hazards and develop plans to respond to disasters while also minimizing the risk to the public. In collaboration with public officials, nonprofits, and government agencies, emergency management directors help lead the response both before and after emergencies and disasters.

Emergency management directors typically have at least a bachelor’s degree in business, emergency management, or public health, as well as many years of work experience in public administration, emergency preparedness, or disaster planning. Some roles in the private sector may require a degree in computer science, information systems administration, or a related information technology (IT) field.

The median annual salary for emergency management directors was $79,180 in 2022. The lowest 10% of directors earned less than $46,920 and the highest 10% earned more than $147,870. 

Environmental scientist

Summary : $76,480 per year / Minimum of a bachelor’s degree

Environmental scientists use their knowledge of natural sciences to protect both environmental and human health. Environmental scientists are tasked with a range of duties, including land reclamation and developing regulations and plans to curtail air and soil pollution. Additionally, they take charge of data collection and dissemination of information to governmental bodies, businesses, and the public. While a significant number are employed by state and local governments, many also work as consultants. They work in laboratories, offices, and conduct field work.

A bachelor’s degree in environmental sciences, biology, chemistry, engineering, or public health may be sufficient for certain entry-level jobs in environmental sciences (such as field analysts or research assistants). For more advanced careers, a master’s degree is often required. For those aspiring to pursue a career in environmental sciences, their curriculum should encompass foundational subjects like biology, geology, and physics, in addition to more specialized courses such as waste management, fluid mechanics, data analysis, and computer modeling. Communication and interpersonal skills can be useful to environmental scientists as many roles require individuals to explain findings to a variety of people. Additionally, analytical thinking and problem solving can be powerful tools.

Recommended or common degrees: Environmental health programs

The median annual salary for environmental scientists and specialists was $76,480 in 2022. The lowest 10% of scientists earned less than $46,920 and the highest 10% earned more than $130,770. 

Epidemiologist

Summary : $78,520 per year / Minimum of a master’s degree in public health

Epidemiologists work to reduce negative health outcomes among populations. With tasks such as developing and directing studies to determine the causes of disease and injury, analyzing collected data, communicating their findings to both the public and policymakers, suggesting preventive measures, informing public health policies, and facilitating timely responses to emerging health threats, epidemiologists play a crucial role in safeguarding public health. 

A master’s-level degree is required to work as an epidemiologist. The degree could be in epidemiology or another related public health field. The coursework, however, usually includes statistics, survey design, public health, biostatistics, and physical sciences. Soft skills such as attention to detail, critical thinking, and effective communication are useful to have in this profession.

• Recommended or common degrees: Epidemiology degrees or master’s in public health

The median annual salary for epidemiologists was $78,520 in 2022. The lowest 10% of epidemiologists earned less than $51,170 and the highest 10% earned more than 123,430.  

The University of North Carolina at Chapel Hill

Gillings school of global public health, master of public health (mph).

Earn your Master of Public Health (MPH) from UNC-Chapel Hill’s Gillings School of Global Public Health in as few as 20–24 months. The CEPH-accredited online learning experience offers four concentrations.

• Three accredited concentrations: MPH Leadership, MPH Nutrition, and Applied Epidemiology
• Part-time and full-time program options
• Curriculum includes applied field experience. Field placement services available.

Health and safety engineer

Summary : $100,660 per year / Minimum of a bachelor’s degree

Health and safety engineers work primarily in scientific and technical services but are also employed in construction and by the government. Historically, the manufacturing industry has relied on health and safety engineers to not only ensure the safety of consumer products and work environments, but also to help cut production costs. The job of a health and safety engineer is to design systems and procedures that prevent people from getting sick or injured. Employing observational skills, critical thinking, problem solving and creativity, health and safety engineers identify potential hazards. They also ensure compliance to health and safety regulations, review safety programs, and conduct accident investigations among other multifaceted tasks.

A bachelor’s degree in engineering, public health or occupational/industrial hygiene is typically required for entry-level jobs in health and safety engineering. Individuals interested in health and safety engineering may take undergraduate courses in engineering, occupational safety, industrial hygiene, and environmental health and safety. Experience is also highly sought after by employers, so internships or work experience should also be considered.

• Recommended or common degrees: Occupational health programs

Health and safety engineers earned a median annual salary of $100,660 in 2022. The lowest 10% of engineers made less than $59,090 per year while the highest 10% earned more than $152,550.

Medical and health services manager

Summary : $104,830 per year / Minimum of a bachelor’s degree

Medical or health services managers , sometimes called healthcare administrators or executives, support a clinic, department, or group of physicians by directing and coordinating health services. The main goal of a healthcare manager is to improve the quality and efficiency of healthcare services. Duties range from billing and scheduling to representing their team at board meetings or in meetings with governing bodies. Healthcare administrators work in hospitals, nursing homes, ambulatory health services, clinics and occasionally, in government positions.

At a minimum, healthcare administrators must have a bachelor’s degree, but master’s degrees are more common. Specializing in health administration equips aspiring professionals with fundamental knowledge across a range of topics including accounting, budgeting, health economics, strategic planning, and hospital organization and management. For those with a bachelor’s degree, experience working in a hospital may be helpful and required by some employers. A certification or license may also be required by employers or the state.

• Recommended or common degrees: Master’s in healthcare administration

The median annual salary for medical and health services managers was $104,830 in 2022. The lowest 10% of managers earned less than $64,100 and the highest 10% earned more than $209,990.

Summary : $135,740 per year / Minimum of a doctoral degree

Public health attorneys are a type of lawyer that work with local, state, and national government officials to devise policies, set regulations, and pass laws concerning public health standards. Public health attorneys may also advocate for patients and victims, filing lawsuits against companies and organizations that violate public health standards.

The path toward becoming a lawyer typically begins with four years of undergraduate study followed by three years of law school where aspiring professionals earn a Juris Doctor (JD). Individuals must attend a law school that has been accredited by the American Bar Association (ABA). For those who wish to specialize in public health, completing coursework focused on health law can be helpful. The final step to becoming a lawyer is taking and passing the bar exam.

As of 2022, the median annual salary for lawyers was $135,740. The lowest 10% of lawyers earned less than $66,470 and the highest 10% earned more than $239,200.

Social and community service manager

Summary : $74,240 per year / Minimum of a bachelor’s degree 

Social and community service managers supervise workers who provide social services to the public. These services can be tailored to specific groups such as children, veterans, senior citizens, or the homeless, and may address specific challenges like substance abuse, mental health concerns, or unemployment. Core responsibilities include coordinating and overseeing health programs and community organizations. Social and community service managers are also responsible for the administrative aspects of community programs, working with stakeholders to meet objectives, plan and manage outreach and awareness campaigns, and write proposals for community services funding. 

Most positions in social and community service management require a bachelor’s degree in social work, public health, or a related field. However, some jobs may require a master’s degree. Strong analytical, communication, time management, and problem-solving skills are key to a career in social and community service management.

The median annual salary for social and community service managers was $74,240 in 2022, with the lowest 10% earning less than $46,770 and the highest 10% earning more than $123,320.

University of Toronto

Utor healthcare leadership.

In the Healthcare Leadership online program from the Rotman School of Management at University of Toronto with faculty from the Institute of Health Policy, Management and Evaluation at the Dalla Lana School of Public Health, you’ll gain a toolkit to lead in the unpredictable healthcare environment.

• Gain the knowledge, skills, and competencies to become a change-ready and strategic leader
• 6 weeks, excluding 1 week orientation
• 6–8 hours of self-paced learning per week, entirely online

The London School of Economics and Political Science

Health economics and policy online certificate course.

Develop a deeper understanding of healthcare economics and investigate policy solutions to emergent challenges.

Yale University

Healthcare management online program.

Develop a comprehensive understanding of funding structures and resource flows within the US healthcare industry.

Harvard University

Global health delivery.

Understand the influencing factors of health and disease and gain the skills to drive global healthcare transformation.

Stanford University

Healthcare leadership.

The Healthcare Leadership online short course from the Stanford Center for Health Education (SCHE) provides you with the tools and strategies to move from a manager to a leader within your professional context.

• Gain strategies and approaches to enhance your leadership performance as a medical professional
• 8 weeks, excluding 1 week orientation
• 6–9 hours of self-paced learning per week, entirely online

Top-paying locations and industries for public health jobs

Besides the 10 highest paid public health jobs listed above, we have compiled a list of the top-paying locations and industries for certain public health jobs. All data has been gathered from the BLS.

Top-paying locations and industries for health education specialists (May 2022)

Top 5 paying industries (annual mean wage) : 

• Merchant wholesalers, nondurable goods
• Federal executive branch
• Business, professional, labor, political and similar organizations
• Scientific research and development services
• General medical and surgical hospitals

Top 5 paying states (annual mean wage) : 

• District of Columbia
• Connecticut
• Rhode Island

Top 5 paying metropolitan areas (annual mean wage) :

• Bridgeport-Stamford-Norwalk, CT: $120,180
• Washington-Arlington-Alexandria, DC-VA-MD-WV: $104,520
• Atlanta-Sandy Springs-Roswell, GA: $99,100
• San Jose-Sunnyvale-Santa Clara, CA: $97,280 
• San Francisco-Oakland-Hayward, CA: $85,470

Top-paying locations and industries for health and safety engineers (May 2022)

Top 5 paying industries (annual mean wage): 

• Office administrative services
• Oil and gas extraction 
• Petroleum and coal products manufacturing
• Residential building construction
• Remediation and other waste management services

Top 5 paying states (annual mean wage): 

• California 

Top 5 paying metropolitan areas (annual mean wage):

• New Orleans-Metairie, LA: $137,940 
• San Jose-Sunnyvale-Santa Clara, CA: $132,970
• Baton Rouge, LA: $131,040 
• Bridgeport-Stamford-Norwalk, CT: $128,990 
• Idaho Falls, ID: $126,520 

Top-paying locations and industries for environmental scientists and specialists (May 2022)

• Oil and gas extraction
• Natural gas distribution
• Other pipeline transportation
• District of Columbia 
• Colorado 
• Savannah, GA: $175,090
• Idaho Falls, ID: $125,220
• San Jose-Sunnyvale-Santa Clara, CA: $118,280
• San Francisco-Oakland-Hayward, CA: $113,480
• Boston-Cambridge-Nashua, MA-NH: $107,500

Top-paying locations and industries for medical and services managers (May 2022)  

• Navigational, measuring, electromedical and control instruments manufacturing
• Pharmaceutical and medicine manufacturing
• Grantmaking and giving services
• New York 
• Dalton, GA: $172,490 
• New York-Newark-Jersey City, NY-NJ-PA: $172,320
• San Francisco-Oakland-Hayward, CA: $171,610
• California-Lexington Park, MD: $171,180 
• San Jose-Sunnyvale-Santa Clara, CA: $165,140 

Top-paying locations and industries for statisticians (May 2022)

• Medical equipment and supplies manufacturing
• Merchant wholesalers, non-durable goods
• Aerospace products and parts manufacturing
• Bridgeport-Stamford-Norwalk, CT: $176,420
• San Jose-Sunnyvale-Santa Clara, CA: $163,680 
• San Francisco-Oakland-Hayward, CA: $154,950 
• Syracuse, NY: $138,280 
• New York-Newark-Jersey City, NY-NJ-PA: $136,530

Top-paying locations and industries for epidemiologists (May 2022)

• Specialty (except psychiatric and substance abuse) hospitals
• Management of companies and enterprises
• Offices of Physicians
• Pennsylvania
• Buffalo-Cheektowaga-Niagara Falls, NY: $137,950
• New York-Newark-Jersey City, NY-NJ-PA: $135,690
• Philadelphia-Camden-Wilmington, PA-NJ-DE-MD: $122,640
• Seattle-Tacoma-Bellevue, WA: $121,330
• Durham-Chapel Hill, NC: $115,780

FAQ on public health jobs and salaries

If you still have questions after reading about the highest-paying careers in public health, refer to the frequently asked questions below or learn more with our guide What Can You Do With a Public Health Degree?

Per the above list of highest-paying public health jobs , computer and information system managers,  attorneys, medical and health services managers, health and safety engineers, and biostatisticians were among the top paid public health careers in 2022.

In general, public health professionals may have higher salaries in large metropolitan areas, such as New York or California, but it largely depends on the types of public health jobs as well.

Most of the public health jobs listed above are projected to grow faster than or about as fast as the average for all occupations (which is 3%) between 2022 and 2032.

Many factors may affect public health salaries including specific roles, location, work setting, experience, education, skill set, and industry. It’s important to take all these factors into consideration when choosing a public health job.

The impact of work settings on public health salaries varies based on factors such as level of responsibility and sector. While some settings might offer higher salaries due to increased demands, specialized roles, or certain public health objectives, others might provide competitive compensation with a focus on individual achievements. Learn about the various factors that can influence earning potential for public health professionals including different types of epidemiologists .

Last updated January 2024.

The Savvy Scientist

Experiences of a London PhD student and beyond

How to Earn Money Online for Students

Who doesn’t love making extra cash? Read on to learn my top tips for how students can earn money online without compromising your studies.

Whether you’re looking for high hourly rates, flexible hours, or opportunities to enhance your personal and professional development, this guide has got you covered. Discover various income streams that can supplement your student loan or PhD stipend while making the most of your time as a student.

Let’s explore the endless possibilities of online earning!

Student Money Making Considerations

I think it is first worth saying that your time is valuable. Being a student opens up a fantastic range of opportunities that are not open once your graduate, so do make the most of them! Here is a post I’ve written about making the most of opportunities.

If you’re already satisfied with your finances then making extra money may not be a good use of your time. This is especially true with inefficient jobs which require a large time commitment at a low hourly rate.

But if you’re determined to learn how to make earn money online, read on for my in-depth student’s guide. In this post I have focused on streams of income with immediate earning potential, however if you’re feeling entrepreneurial you can of course start your own business. This tends to involve a great deal of upfront effort, but may prove fruitful in the long term.

I am going to focus on ways to earn money online which fulfil as many of the following criteria as possible:

• High hourly rate
• Flexible hours
• Contribute to your personal and professional development
• High availability

Tutoring is probably the first job that sprang to mind when you considered how to earn money online as a student. The only tutoring I’ve done has been free of charge (see below*) but I do know many PhD students who do it on the side. It can be rewarding both financially and personally, as you start to see improvements in the students.

The typical scenario will see you helping students prepare for school exams but you may also find opportunities to help more junior university students. Pay will vary a lot depending on your credentials and how you market yourself, £30 per hour and above is typical.

Online tutoring is as flexible as you make it, however do factor in the time it takes for preparation.

Hourly rate: 4/5 Flexible hours: 3/5 Personal development: 2/5 Availability: 3/5 Tutoring Overall Score: 12/20

*Feeling altruistic and want to help out students who can’t afford a tutor? Universities often have volunteering schemes such as Pimlico Connection at Imperial. I did this for one term when I started my PhD. No pay but a lot of satisfaction and the potential to make a big difference to the students you help.

Matched Betting

The wildcard! In a nutshell matched-betting involves taking advantage of promotional sports betting and casino game offers: flipping the odds in your favour, massively increasing your odds of regularly winning.

You might have seen sketchy looking adverts about it, but rest assured that you genuinely can make decent cash doing it from the comfort of your bedroom. I subscribe to a matched betting service* which makes the process of finding and capitalising offers very simple.

A typical offer may see you make £20 for 20-30 minutes work , with some offers being much more time efficient and others less so. There are a series of simple sign-up offers you can begin with which got to me to a quick profit of around £1000 profit. After these sign-up offers there are usually recurring offers for existing customers too.

*This is an affiliate link, please read more about my policy relating to them here .

I started matched betting several years ago and in total have made almost £10,000. The nice thing with matched betting is that it is tax free!

You can do it as much or as little as you have time for and it’s easy to fit around your work. You won’t learn anything useful from doing it but the flexibility is almost unrivalled. In summary, provided you’re careful it’s a fantastic way to make money as a student!

If you’re interested I have now written a huge post, guiding you through matched betting:

• The Student Guide to Matched Betting: Make Easy Money Online

Hourly rate: 4/5 Flexible hours: 5/5 Personal development: 1/5 Availability: 5/5 Matched Betting Overall Score : 15/20

Market Research Sessions

You’ve probably seen TV shows with a group of consumers thrown in a room to discuss their use of a certain product, with executives taking notes behind a one way mirror. The setting isn’t always like that, but the opportunities to make money as a student with market research are prevalent. It’s becoming increasingly common for virtual opportunities to be offered too.

There are agencies you can register with and they’ll regularly email new opportunities targeted at various demographics. I’ve done sessions on topics as diverse as gardening through to chocolate bars. You don’t need to be a student to apply for these but they do suit the potential flexibility of being a student.

The premise is simple: you provide an insight into your decision making process or feedback on a product to inform product development. Sometimes the work will involve going to a single one hour long session, other times you’ll be recording video diaries for a week or a month from home. Pay is often around £50 per hour or more.

Along with the products themselves I’ve received bonuses like an iPod to be able to record video diaries on which is an extra perk.

If you decide to attend a session in person make sure to factor in commuting time: earning £75 for a one hour session might sound great but if it takes an hour to get there it’s less efficient than it sounds. The sessions can be interesting but don’t really offer much in the way of personal development. Opportunities are sporadic and certainly not financially dependable so see them as a bonus.

Here are some companies which email me with market research opportunities:

• TakePartInResearch *
• Trend Market Research

*These are both affiliate links, please read more about my policy relating to them here .

Hourly rate: 5/5 Flexible hours: 4/5 Personal development: 1/5 Availability: 2/5 Market Research Overall Score: 12/20

Prolific is similar to other online survey sites, but as well as making money you’re participating in academic studies. As of February 2021 I’ve been using Prolific for a few months now and have made just over £100 at roughly £10 an hour .

The nice thing compared to other ways of making money is that you can pick up studies at your convenience. A lot of the time the studies are actually pretty interesting too.

The worst thing about it is that there aren’t currently a constant stream of high earning surveys so the potential to earn lots of money is limited. Hopefully as the platform develops the opportunities will increase.

I wrote a whole article with my thoughts and tips for using Prolific here .

Hourly rate: 2/5 Flexible hours: 3/5 Personal development: 3/5 Availability: 2/5 Prolific Overall Score: 10/20

Bank Switching Offers

To entice customers, banks often give out free cash for you to switch to them. Usually these offers are for £50-£100. Recently I got paid £100 to switch a current account to RBS, not bad for 10 minutes work.

In 2019 I detailed some of the money I made from these here . See available offers in the UK listed here .

Switching is now really simple, with all your direct debits etc automatically carried across, so switching takes less than half an hour: making this a good hourly rate!

If you’re able to save money, the linked savings accounts associated with many of these accounts are great too. The issue is that there aren’t that many banks and you can’t do these offers that frequently so it certainly isn’t a long term solution to make money. I still recommend making the most of these very easy offers and I usually switch accounts every 12 months or so.

Do be aware that sometimes there are required minimum monthly deposits. Usually you are okay to “game” it (i.e. if deposits of £1000 per month are required, you can simply transfer money back and forth amongst several of your own accounts up to this amount).

Hourly rate: 4/5 Flexible hours: 4/5 Personal development: 1/5 Availability: 1/5 Banking Offers Overall Score: 10/20

Selling on eBay

I make money selling old belongings on eBay, and have averaged about £200 per month since starting my PhD.

This method of reliably making money only really applies if you’ve got loads of old belongings hanging around which A you no longer want and B have value. So it’s certainly not for everyone nor a sustainable long term income source. Nevertheless it’s worked great for me to both make money (over £10,000!) and give my belongings a new lease of life.

I wrote a post about it here: How I make money selling belongings on eBay .

It is great to see the rise in thrifting and reducing our demands on the planet. Even if you’ve just got some old clothes you’re no longer wearing, try selling them. As well as eBay there are loads of other platforms this applies to such as Depop , Shpock etc.

Hourly rate: 2/5 Flexible hours: 5/5 Personal development: 1/5 Availability: 2/5 eBay Overall Score: 10/20

How to Earn Money Online for Grad Students

In addition to the money making opportunities listed above, there is one additional way of making money open to you specifically as a masters or PhD student.

But before we delve into it I’ll first address whether it’s ok to earn extra money during your PhD, after all you’ll usually be receiving a stipend to pay you for your work.

The simple answer is that usually you are fine to make some extra money on the side and working as a graduate teaching assistant is often actively encouraged .

However there will normally be limits on the number of hours you can work outside of your PhD studies, so if in doubt consult your department for further details.

Although not strictly limited to grad students, a lot of consulting roles will want you to demonstrate some expertise. Having several years of experience and a degree or two under your belt will significantly help with this.

I’ll begin by saying that I only have a small amount of experience in this area. Opportunities exist in many fields and you’ll typically hear about consulting opportunities through one of the following channels:

• Your supervisor may have a history of working with certain companies
• Department-wide emails targeted at PhD students to provide specialised help
• Adverts around campus
• Signing up to a consultancy agency

Of course you can also set yourself up as an independent consultant. Working with an external company through consulting can be a valuable experience for both academia and industry.

Recently I signed up to Kolabtree , a website connecting businesses and independent consultants. I’ve had some offers for work but haven’t yet taken on any. Be aware of the 20% platform fee. Even so I like the idea and setting up a profile doesn’t take long.

Hourly rate: 4/5 Flexible hours: 3/5 Personal development: 5/5 Availability: 2/5 Consulting Overall Score: 14/20

In addition to all of the ways to earn money online described above, I’d also encourage PhD students to keep an eye on any graduate teaching assistant (GTA) opportunities available. For more details see my full post on GTA roles .

The majority of these will be in person, but you may also find the occasional online role from time to time.

Summary: How to Earn Money Online for Students

Below is a brief summary of the key points we’ve discussed above.

• Tutoring: Offer your expertise to help younger students prepare for exams. Tutoring can be financially rewarding and flexible.
• Matched Betting: Take advantage of promotional sports betting and casino offers. Matched betting can be a lucrative way to make money online as a student.
• Market Research Sessions: Participate in market research studies to provide feedback on products or decision-making processes. These sessions can pay around £50 per hour or more.
• Prolific: Participate in online surveys and academic studies through the Prolific platform. Studies can be interesting and you can earn money at your convenience.
• Bank Switching Offers: Take advantage of banks’ offers to switch accounts and receive free cash. This can be a quick way to make money, but opportunities are limited.
• Selling on eBay: Sell old belongings on eBay or other platforms like Depop or Shpock to make money and give your items a new lease of life.
• Consulting (typically for graduate students): If you have expertise in a field, consider consulting opportunities, which can be beneficial for academia and industry connections.

As you can see, there are loads of ways for students to earn money online, each with their own pros and cons. No single one of these income streams is perfect for everyone, so which to choose will depend on your own skills, availability and priorities. However, there is nothing to stop you from utilising a mix of different income streams, giving you exposure to more opportunities to make money.

Keep in mind any limitations on the number of hours you can work outside of your studies, especially for graduate students receiving stipends.

Personally, from this list I’ve made the most money from eBay and matched betting . Then a much smaller and less dependable source has been market research opportunities and Prolific.

Best of luck with smashing both those money making and academic goals. Happy hustling!

Hopefully that’s helped to answer the question of how to earn money online for students. If you have any suggestions for income streams I should include, please do let me know in the comments.

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Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond

Kasey Chatterji-Len and Anna Kovner

Becoming a PhD economist can provide a fulfilling and financially secure career path. However, getting started in the field can be daunting if you don’t know much about the preparation you’ll need and the available job opportunities. If you’re wondering what it means to be an economics researcher or how to become one, please read on. We’ll review how to prepare for a career in economics research, what an economics PhD program entails, and what types of opportunities it might bring. Economic education is a core component of the Federal Reserve Bank of New York’s mission to serve the community. To empower would-be economists, this post provides information for students who seek a career in economics research. We hope this information will be helpful to students interested in economics, regardless of their background and economic situation.  This information is most applicable to students applying to programs in the United States.  

The Breadth of Economics Research  

Academic disciplines conduct research in different ways, so it’s important to have a basic understanding of the types of questions economists ask and how they approach answering them. There are many definitions of economics, but a broadly useful one is the study of how people, organizations, and governments make decisions under different constraints, and how those decisions may affect their outcomes. 

When answering these questions, economists seek to ground their analyses in models and to be quantitatively precise about the effects they assign to any given cause. The range of topics economists can study is wide, but the accepted approaches to answering questions are stricter. Some examples of what economists might ask: 

• How do different public housing programs affect the children who live there? 
• Does a certain type of law encourage businesses to innovate? 
• How will a change in the interest rate affect inflation and unemployment rates? 
• How much does affordable health insurance improve people’s health? 
• How can poor countries eradicate poverty? 

There are many different subfields within economics, including, but not limited to behavioral, econometrics, energy/environmental, development, financial, international, monetary, public, and urban economics. You can familiarize yourself with the latest work in economics by subscribing to working paper series, such as NBER’s New This Week or the New York Fed’s Staff Reports . To get an idea of the breadth of questions economists can answer, you could listen to Stephen Dubner’s “ Freakonomics Radio ” podcast. You may also want to explore the Journal of Economic Perspectives , the New York Fed’s Liberty Street Economics blog, VoxDev , or VoxEU .  

What Is a PhD Program Like?    

Economics PhD programs typically last five to seven years. Unlike masters programs, they are often fully funded with a stipend, though most require students to complete teaching assistant and/or research assistant (RA) work as part of their funding package. In the first two years, students take classes, many of which are mathematically demanding. The rest of the program can include additional classes but is primarily devoted to original research with the aim of producing publishable papers that will constitute the dissertation.  

Faculty advisors are a central part of PhD programs, as students look to them for guidance during the research process. Economics PhD programs are offered within university economics departments, but there are similar programs in public policy and business schools. You can look at their websites to understand any differences in coursework and subsequent job placements. 

What Can You Do with an Economics PhD?  

Upon graduation, students can obtain jobs in a variety of industries. Many PhD students hope to become university professors. Governments and public policy-related institutions such as the Federal Reserve System, the U.S. federal government, the World Bank, and the International Monetary Fund (IMF) also hire economists to work on policy, lead programs, and conduct research. Finally, economics PhD graduates can also find employment at a variety of private sector companies, including banks, economic consulting firms, and big tech companies. The pay for these different positions can vary. According to the American Economics Association (AEA), the average starting salary for economics assistant professors in 2022-23 was approximately $140,000 at PhD granting institutions and $98,000 at BA granting institutions. 

Programs often publish the placements of their PhD graduates, so you can look online to see specific employment outcomes. See, for example, the University of Maryland’s placements . Ultimately, economists are highly regarded as authorities on a variety of topics. Governments, nonprofits, philanthropic foundations, financial institutions, and non-financial businesses all look to economists to answer important questions about how to best achieve their goals. Thus, earning an economics Ph.D. can potentially help you to influence issues that are important to you. 

Preparing for an Economics PhD Program  

There are several components to an economics PhD program application: college transcripts, GRE scores, letters of recommendation, and personal statements. Please download the Appendix linked below to learn more about transcripts and letters of recommendation. The Appendix details ways in which you can select coursework, obtain research experience, and develop relationships to position yourself for success as a PhD applicant.  

If you feel that you are too far along in your academic career to take enough of the classes described in the Appendix, this does not necessarily preclude you from pursuing an economics PhD. For example, it’s possible to take some of these classes through a master’s program, or through a pre-doctoral RA job. Some pre-doctoral RA jobs, such as the one here at the New York Fed , may enable you to take classes in preparation for graduate school. If you are concerned about your transcript, reach out to an economist at your university for advice; program standards for coursework and grades vary, and it’s a good idea to get more personalized advice. 

Research Experience   

If you’re interested in becoming an economics researcher and applying to PhD programs, it’s best to get research experience as soon as possible. Working as an RA is a great way to learn how to conduct research and get a better idea of whether it’s the right career path for you. Additionally, it can help you obtain a letter of recommendation for graduate school applications and improve your qualifications.  

All types of academic research can be enriching, but it’s beneficial to gain experience working directly with an economist. To find a position, you can reach out to professors whose work you find interesting or find an RA program at your school. Typical RA tasks may involve data collection and cleaning, as well as running analyses and creating charts to represent results. This is where coding skills become crucial; having taken math, statistics, and econometrics courses will also enable you to take on more responsibilities. 

You may also have the opportunity to conduct your own research, possibly under the supervision of a professor at your university. This research could be self-initiated or part of a course such as a thesis workshop. Self-directed research is a great opportunity to learn about all stages of the research process. It’s also an excellent opportunity to create a writing sample for graduate school applications. Ultimately, though, your motivation for conducting your own research project should be that you want to answer a question.  One thing economists have in common is a love of answering questions using data and theory. 

Research experience is also often obtained after completing an undergraduate or master’s degree. Taking on a full-time RA position before applying to PhD programs is very common and can make you a more competitive applicant. You may either get an RA job working for a professor or participate in a pre-doctoral RA program.  

Research assistant programs are more structured than positions with individual professors or projects, which could be helpful. Universities, parts of the government, think tanks, research organizations, and the Federal Reserve System are all good places to look for research assistant programs. To help you decide which opportunities are most desirable, you may want to ask potential employers : Where do people in this program tend to go afterward? Will I be working directly with an economist? How much of my time will be spent on academic research work? Will I be able to take classes as part of this program? Considering whether an economist will be able to evaluate your performance is an important factor for recommendation letters. The ability to take classes, either through tuition reimbursement or waivers, can also be an important benefit. 

The Research Analyst program here at the Federal Reserve Bank of New York is one example of these programs and you should check it out here . The Federal Reserve Board of Governors also has a large program, and many other regional Federal Reserve Banks have similar programs. In addition, the PREDOC website and the  NBER post listings of RA opportunities. J-PAL and IPA also tend to recruit RAs for economic development projects. Another source of RA opportunities is the @econ_ra account on X. 

Who Should Get a PhD in Economics?  

A PhD may not be for everyone, but it is for anyone—people of all genders, religions, ethnicities, races, and national origins have PhDs in economics. Many economists majored in economics, but others majored in math, physics, or chemistry. Because economics is such an integral part of policymaking, it is important that economists come from a wide range of backgrounds so policy can be stronger and more effective. The inclusion of differing perspectives helps ensure that the contribution of economists to work in public policy, academia, and beyond effectively serves the broadest range of society. 

• Coursework Appendix

Kasey Chatterji-Len is a research analyst in the Federal Reserve Bank of New York’s Research and Statistics Group.

Anna Kovner  is the director of Financial Stability Policy Research in the Bank’s Research and Statistics Group.

How to cite this post: Kasey Chatterji-Len and Anna Kovner, “Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond,” Federal Reserve Bank of New York Liberty Street Economics , May 31, 2024, https://libertystreeteconomics.newyorkfed.org/2024/05/thinking-of-pursuing-a-phd-in-economics-info-on-graduate-school-and-beyond/.

You may also be interested in: AEA: Resources for Students

PREDOC: Guidance for Undergraduates

RA Positions-Not at the NBER

Disclaimer The views expressed in this post are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the author(s).

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Prison, Fines, Probation? What Happens Now That Trump’s Been Convicted in His Hush Money Trial?

The former president could face time behind bars – but it’s unlikely.

Trump's Convicted: What's Next?

Steven Hirsch | New York Post via AP, Pool

Former President Donald Trump walks outside of Manhattan Criminal Court after a jury convicted him of felony crimes for falsifying business records in a scheme to illegally influence the 2016 election on Thursday in New York.

Donald Trump ’s historic criminal hush money trial reached a dramatic crescendo Thursday, with the Republican front-runner for the White House becoming the first former U.S. president convicted of felony charges.

The 12 jurors in Trump's Manhattan trial unanimously found him guilty on 34 felony counts of falsifying documents to conceal payments made as part of an elaborate “catch-and-kill” hush money scheme, which was carried out during his 2016 presidential campaign. Trump had pleaded not guilty.

Michael Cohen – Trump’s former lawyer, fixer and confidant – was the star witness for the prosecutors, and testified that Trump directed him to make a $130,000 hush money payment to a former porn star and then approved the scheme to reimburse Cohen. The conspiracy sat at the heart of the case, and the narrative was bolstered by nine separate checks signed by Trump himself, among other exhibits entered into evidence.

Still, it had been unclear where the jury would land – especially given questions about Cohen’s credibility given his history of lying and committing crimes .

The Best Cartoons on Donald Trump

Crucial to the prosecution’s case was not just proving that the payments were made, that Trump knew about them or even that he had his associates falsify business documents to cover them up. For Trump to be convicted of a felony, jurors also had to unanimously agree that he falsified documents in order to commit or conceal a separate crime. Prosecutors alleged that crime was a violation of a state election law barring the promotion of a person's election by "unlawful means."

Of course, the top-of-mind question with the verdicts now returned is: What happens next?

Trump's sentencing has been set for July 11 – notably, just four days before the Republican National Convention kicks off in the swing state of Wisconsin .

Trump Guilty in Historic Trial

Lauren Camera May 30, 2024

And yes, he could face time behind bars – up to four years under New York law for each of the Class E felonies of which he was found culpable. Someone like Trump who’s found guilty and has three additional active criminal cases typically would face at least some time behind bars, legal experts who spoke to U.S. News ahead of the jury's decision say. And those sentenced for less than a year are regularly sent to New York City’s infamous Rikers Island jail complex.

But this is no ordinary defendant, and experts say it’s unlikely a judge would hand down a prison sentence for a nonviolent crime to a 77-year-old former president with no prior convictions.

“Let's level-set for a minute: If it were any other defendant that had three other open indictments in three other jurisdictions and was held in contempt 10 times during this trial, he would be put in and be given a jail sentence,” says Karen Agnifilo, who served for 14 years as an assistant district attorney in Manhattan and then went on to serve as executive assistant district attorney, chief of the trial division and chief assistant district attorney for the Manhattan DA’s office. “But he's not going to be treated like everyone else.”

Instead, experts say, fines and probation are more likely penalties for Trump, and he could face anything from picking up trash in the city’s subway as community service to reporting frequently to a civil servant in the city’s Probation Department.

The severity also may be tied to the number of counts on which Trump was found guilty.

“The number of counts has some bearing," says George Grasso, who served for more than a decade as a judge in New York City, including as an administrative judge for criminal matters in Queens Supreme Court. "If someone were convicted of one count of a nonviolent E felony, it's different than someone being found guilty of 34 counts.”

Meanwhile, Trump – who called the trial "rigged" and a "disgrace" after being found guilty – is expected to appeal. That process could take months to resolve and would likely push past the 2024 presidential election .

For now , Trump also remains under a gag order that barred him from commenting about jurors, witnesses, court staff and the family members of Merchan and Manhattan District Attorney Alvin Bragg. His repeated violations of that order could be a factor in his sentencing.

Quiz: Who Said What in Trump’s Trial?

U.S. News Staff May 24, 2024

“They will be asked to be released from (the) gag order,” Agnifilo says of Trump’s defense team. “My suspicion is that the judge will keep it for the jurors for sure.”

As it relates to the election, Trump would not be disqualified from running for president if he’s found guilty of a felony – though it could significantly impact his campaign. About 1 in 4 Republicans said they would not vote for Trump if he is found guilty of a felony in a criminal trial, according to a Reuters/Ipsos poll in April, along with 60% of independents.

"The real verdict is going to be Nov. 5, by the people," Trump said Thursday.

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Tags: Donald Trump , courts , prison sentences , crime

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10 Smartest Ways To Make Your Money Work for You, According to Experts

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If you’re in the fortunate position to have a bit of extra income that isn’t earmarked for expenses and you’re wondering what to do with it, there are a number of options to grow your money .

We asked financial experts to explain the 10 smartest ways to make your money work for you.

Open a High-Yield Savings Account

If you have your money in traditional savings accounts, you’re missing out on interest you could be earning. Enter a high-yield savings account , which functions the same as a regular savings account except that it offers a greater annual percentage yield.

You do have to pay taxes on that interest, but it’s likely to still net you more money than a regular account. And the longer you leave your savings in a high-yield savings account, the more you’ll save with compounding interest.

Create Specific Financial Goals

Setting aside money from each paycheck into a generic savings account can feel unproductive and like there’s no end in sight. In order to make your money work for you, start by outlining specific financial goals you want to work towards.

“Planning for your future financial needs can be difficult without goals or plans to help you visualize how much you have today and how much you will need in the future,” said Adrian Oropeza, head of product at Milli Bank. “If you are looking at purchasing a new car or vacation, you don’t need to know the exact amount. Do some research and get an estimate of how much you need to save and commit to a date.  Each month allocate money towards your goal and track your progress. As you get closer you can adjust as needed.”

Automate Your Finances

In this digital age, it’s now incredibly easy to automate your finances in just about every way you can imagine, from automatic bill payments to automatic investment contributions.

“The hardest part of saving for something is remembering to do it each month before you spend it on something else,” Oropeza said. “Automating your saving reduces the chance that you will use it on something that will give you short-term happiness but keeps you further from what might matter more to your long-term financial goals.”

Plan for Each Dollar

To make your money work for you, have a plan for each dollar that comes in.

“ Have you ever heard that every dollar you earn should have a job? It may sound odd, but it helps you make sure that your money is working for you,” said Bethany Wilson, head of marketing at Milli Bank. “By outlining where each dollar of your paycheck goes (ex: mortgage, groceries, college savings, etc.) you’ll have an opportunity to put excess funds into a savings account or invest it, giving you more money for the things that matter most. Create your savings goals and rank those goals by what is most important to you. From there, assign each dollar to the goal you want it to help you achieve!”

Get Rid of Your High-Cost Debt

You can’t grow wealth into the future if debt is holding you back, said Christopher Sioco, COO of Parachor Consulting.

“High-cost debt kills long-term wealth,” he said, pointing out that credit cards typically have interest charges as high as 35% per year while a personal loan could have interest charges of 20%.

“With such high-interest rates on loans, you cannot create wealth,” he said. “Get rid of high-cost debt as soon as possible. By paying off a credit card in full, you earn 35% on your investment and can put the savings to better use.”

Invest in Real Estate

If you have enough money to make down payments on property, investing in real estate is a great way to make your money work for you, said Omer Reiner, president of FL Cash Home Buyers, LLC, a real estate investment company.

“When you own a property,” Reiner said, “you control how you want to make money from it. You can rent it out, fix it up to sell it, add value to increase rents, etc.”

Invest in the Stock Market

To really grow your money, your best bet is to invest in the stock market , by purchasing individual ETF’s (exchange traded funds) and mutual funds in a “model portfolio,” according to Johnny Medina, CEO of Nabla Financial.

“The general concept is very simple: Save at least 10% of your gross income. Invest the savings with a long-term mindset and leave it to compounding to do the rest.”

For example, if you start with $10,000, save $1,000 each month and invest in a portfolio that will yield 10%. After 30 years, you would have $2.3 million.

Invest in S&P Funds

Another type of fund likely to yield good, reliable results — and which historically yields an average 11% annual return — is the S&P fund.

According to Andrew Lokenauth, CEO of Fluent in Finance, “The S&P 500 comprises 500 of America’s largest companies, across all 11 industries. Investing in the S&P 500 is an easy and stress-free way to invest for the majority of people, because you’re not betting on a single company but 500 of America’s largest companies.”

Invest in Indexed Mutual Funds

Indexed mutual funds are also a great way to grow wealth, advised Carter Seuthe, CEO of Credit Summit. These funds work by investing equally in every stock in a given exchange, such as the Dow Jones or the NASDAQ, he explained.

“They have consistently been shown to outperform most actively managed investment accounts,” he said, “and come with the added benefit of avoiding the fees that come with intensive management.”

Indexed mutual funds provide a good return without a huge amount of risk, he added.

Use a Rewards Credit Card and Pay It Off Each Month

Aside from saving and investing, a simple way to earn money is to use a rewards credit card without an annual fee, “an excellent tool for financial growth,” said Kasey Ring, personal finance expert at Upward Personal Finance.

As long as you pay off your balance each month, she said, “You can add hundreds to your bottom line each month just by spending your money with a different tool. It takes discipline, but getting rewards for using the bank’s money free of charge every month makes sense and financially savvy people do this.”

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Trump hush money trial jury deliberations begin: when we might we get a verdict

Donald Trump 's hush money jury prepared to enter its second day of deliberations Thursday. The jurors on Wednesday asked to have the judge's instructions read back to them and to review portions of testimony by former National Enquirer publisher David Pecker and Trump's former fixer, Michael Cohen.

After Judge Juan Merchan sees to those matters, the jury will work towards a historic verdict in the first-ever criminal trial of a former president.

The case is in the hands of 12 Manhattanites who will either issue a unanimous verdict or force a mistrial .

Trump is on trial for 34 counts of falsifying business records . Prosecutors have spent the better part of the last six weeks building the case that Trump authorized the $130,000 in hush money Michael Cohen paid porn star Stormy Daniels , that the payment violated campaign finance laws, and Trump disguised the reimbursement as a legal expense.

After the verdict: What happens if Trump is found guilty in hush money case? Prison is certainly an option.

Prep for the polls: See who is running for president and compare where they stand on key issues in our Voter Guide

What happens in jury deliberations?

The jury will meet in the jury room to discuss their views on the case. Questions about evidence or testimony may come up during this time.

"They may have notes for the judge: 'We have questions about this issue, that issue....Can we have this testimony read back? Can we see this exhibit?'" Kevin J. O’Brien , a New York-based trial lawyer, previously explained to USA TODAY. "There's going to be interaction, it's not just straight deliberation."

The judge would ask all parties to return to the courtroom while he addresses the questions, according to the New York State Unified Court System petit juror's handbook.

How long until the jury reaches a verdict?

For the jury to convict or acquit Trump, all 12 jurors must come to an unanimous decision. If they can't agree, it is considered a " hung jury ," and the judge would have to declare a mistrial.

There is no deadline for the jury to stop deliberating, but O'Brein says three days would be considered a long time.

He also said a quick decision could signal good things for the defense, as it tends to mean the jury may not be willing to wade through the evidence or at least one person is clearly unwilling to budge.

Contributing: Aysha Bagchi

How Trump’s guilty verdict will impact the 2024 presidential election

Trump may lose some support, but the drop could be temporary.

Scandals have swirled around former President Donald Trump since his first presidential campaign in 2016. But as of Thursday — having been found guilty on all counts in his New York hush-money case — he is now officially a convicted felon. Could that fact cut through all the other headlines and be a game-changer for the 2024 election?

At first glance, there's some evidence from polls that this conviction will meaningfully erode Trump's support. An April survey from CNN/SSRS found that, while 76 percent of Trump supporters said they would support Trump regardless, 24 percent said they "might reconsider" their support for him if he was convicted. And a May poll from Emerson College found that 25 percent of voters said a guilty verdict in New York would make them less likely to vote for Trump.

A few pollsters have also asked two versions of the standard "who will you vote for?" question in recent weeks : one straightforward one, and one that asked respondents who they would vote for if Trump was convicted in the New York case. On average, Trump went from leading by 1 percentage point in these polls without considering the conviction to trailing by 6 points with it.

But Democrats would be wise to not get too excited about these numbers. Take another look at the wording of the CNN/SSRS poll: Twenty-four percent of Trump supporters said they "might reconsider" their vote. That's not the same as "will definitely change" their vote! In light of this conviction, many Trump supporters might simply have a crisis of confidence about their vote without outright switching to President Joe Biden.

That's basically what another poll from ABC News/Ipsos found. Like CNN/SSRS, they asked Trump supporters what they would do if Trump was convicted in the New York case, but they provided options for both "reconsider" and "no longer support." Sixteen percent said they would reconsider supporting Trump, but only 4 percent said they would no longer support him. (Similar to CNN/SSRS, 80 percent said they would continue to support him.)

Likewise, you should always be careful with polls like Emerson's that ask Americans whether something makes them more or less likely to vote a certain way. Respondents often don't take these questions literally ; instead, they use them as a proxy for whether they approve or disapprove of the thing being asked about.

Indeed, over three-quarters of those who told Emerson a conviction would make them "less likely" to vote for Trump had told the pollster on a different question that they were already voting for Biden. By contrast, only 11 percent of Trump voters said a guilty verdict would make them less likely to vote for him — so the potential impact on his actual support is much smaller than it initially appears.

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Other polls also support the theory that this conviction won't cause mass defections to Biden. Those horse-race polls I cited above? They don't actually show many Trump voters switching their vote to Biden. Instead, most of the support Trump loses goes into the undecided column or to an unnamed, hypothetical "someone else":

On average, Trump loses 6 points of support after a conviction is taken into account — but Biden gains only 1 point. "Someone else" or undecided gains 5 points. That's consistent with the idea that this conviction will make some Trump supporters squeamish about the idea of pulling the lever for him, so they will stop identifying as Trump supporters for a while — but most of them won't go so far as to vote for Biden.

And that, in turn, could indicate that this drop in Trump's support will be short-lived. Sure, Trump supporters who abandon him after this conviction could conceivably abstain from voting or vote for a third-party candidate. But the best predictor of future behavior is past behavior, so there's also a good chance that they will eventually get over their discomfort and return to Trump's side, especially considering there are still five months left until Election Day — plenty of time for Trump to spin a narrative that helps voters overcome any hangups about voting for a convicted felon.

We don't need to search far for a precedent for this. In October 2016, Trump's campaign was blindsided by the infamous "Access Hollywood" tape, on which Trump bragged about sexually assaulting women. Polls at the time showed that the tape made some Republicans uncomfortable about supporting Trump , and his national support in 538's polling average at the time fell by about 1 point. But Trump's support quickly recovered: Within three weeks of the tape's release, he was polling better than he was before it.

That said, even if most Trump defectors only switch to undecided and eventually return to the fold, that doesn't mean the conviction will have zero effect on the race. That average 1-point gain for Biden isn't nothing — in a close race (which 2024 is shaping up to be), it could mean the difference between winning and losing. But it's also important not to overstate the conviction's impact. If the hush-money trial ends up determining the presidential race, it will likely be because the campaign was a game of inches anyway.

Irena Li contributed research.

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Trump Announces Nearly $53 Million Fund-Raising Haul After Guilty Verdict

Cash has been one of President Biden’s advantages so far in 2024, and post-conviction money will help Mr. Trump close the gap with the Democratic incumbent.

• Share full article

By Shane Goldmacher

• May 31, 2024

Donald J. Trump’s campaign announced on Friday evening that he had raised nearly $53 million in the 24 hours after his felony conviction, shattering online records for Republicans and raking in enough cash to help him close what has been a substantial financial gap with President Biden.

It is hard to put the enormity of the sum into proper perspective, but it would nearly match, in a single day, the $58 million that Mr. Trump’s main fund-raising arm raised online in the last six months of 2023, according to federal records.

The campaign first said on Friday morning it had collected nearly $35 million in the hours after the verdict. By Friday evening, the campaign had revised the figure up to $52.8 million in the 24-hour period following Mr. Trump’s conviction.

“This momentum is just getting started,” Susie Wiles and Chris LaCivita, two of Mr. Trump’s top advisers, said in a joint statement.

The figures will not be verifiable until the campaign committees and WinRed, the online processing platform for Republicans, make their filings with the Federal Election Commission in the coming months.

In addition, the campaign said on Friday morning that nearly 30 percent of the donors who gave online were new to WinRed, giving the former president an invaluable infusion of new people to tap for contributions as his campaign marches to November.

The one-day haul was significantly more than the $4 million Mr. Trump raised when his mug shot was released in 2023, after his booking in Atlanta for his indictment there.

Cash has so far been one of Mr. Biden’s advantages in the race. His main campaign committee entered May with $84 million, compared with $49 million for Mr. Trump.

The 24-hour fund-raising total could erase that edge entirely, though Mr. Biden has said his campaign has another $100 million spread across accounts that he shared with the Democratic Party. Mr. Trump’s campaign has not disclosed its total cash on hand with party accounts.

The Biden campaign has leveraged its cash to advertise in key battleground states since Mr. Trump emerged as the Republican nominee and as Mr. Trump has been absent from the airwaves.

The post-verdict total was far greater than the $26 million that the Biden campaign had announced four years ago in the 24 hours after he had named Kamala Harris as his vice-presidential pick .

In April, Mr. Trump’s operation, working in concert with the Republican National Committee, announced that it had raised $76.2 million, beating for the first time what Mr. Biden’s shared operations with the Democratic National Committee brought in — $51 million.

The conviction appeared to be driving Democratic donations, as well, though to a much lesser extent.

ActBlue, which processes online contributions for Democrats, registered three of its four biggest hours of donations in all of 2024 on Thursday evening in the wake of the conviction, topping out near $1.3 million in a single hour, according to its online ticker.

Rachel Shorey contributed reporting.

Shane Goldmacher is a national political correspondent, covering the 2024 campaign and the major developments, trends and forces shaping American politics. He can be reached at [email protected] . More about Shane Goldmacher

Our Coverage of the Trump Hush-Money Trial

Guilty Verdict : Donald Trump was convicted on all 34 counts  of falsifying records to cover up a sex scandal that threatened his bid for the White House in 2016, making him the first American president to be declared a felon .

Next Steps: The judge in the case set Trump’s sentencing for July 11, and Trump already indicated that he plans to appeal. Here’s what else may happen .

Reactions: Trump’s conviction reverberated quickly across the country and over the world . Here’s what Trump , voters , New Yorkers , Republicans  and the White House  had to say.

The Presidential Race : The verdict will test America’s traditions, legal institutions and ability to hold an election under historic partisan tension , reshuffling a race that has been locked in stasis and defined by a polarizing former president.

Making the Case: Over six weeks and the testimony of 20 witnesses, the Manhattan district attorney’s office wove a sprawling story  of election interference and falsified business records.

Legal Luck Runs Out: The four criminal cases that threatened Trump’s freedom had been stumbling along, pleasing his advisers. Then his good fortune expired .

Connecting the Dots: As rumors circulated of Trump’s reported infidelity, two accounts of women  being paid to stay silent about their encounters became central to his indictment.