Probability of Completing a Graduate Degree
13.7%
Lifetime probability in US
About 13.7% of US adults hold a master's degree or higher, though the rate has been increasing steadily.
Approximately 13.7% of US adults aged 25 and older hold a master's degree, and an additional 4.5% hold a doctoral or professional degree, for a combined advanced degree attainment rate of about 18.2%, according to Census Bureau data. This rate has roughly doubled since 1990.
Graduate degree attainment varies significantly by demographics: women now earn about 60% of all master's degrees, and advanced degree rates are highest among Asian Americans (approximately 28%). Field of study also matters: about 90% of PhD students in biomedical sciences complete their degrees, compared to about 50% in humanities. The average time to complete a PhD in the US is about 5.8 years.
The earnings premium for a master's degree is substantial: median earnings are about 18% higher than for bachelor's holders. For professional degrees (MD, JD, MBA), the premium is larger. However, the return varies enormously by field: an MBA or computer science master's may increase lifetime earnings by hundreds of thousands of dollars, while a master's in some humanities fields may not pay back its cost. Student debt for graduate degrees averages about $66,000 for master's and $135,000 for doctoral degrees.
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