Missouri’s economy is bolstered substantially by the higher earnings of more than 290,000 residents holding advanced degrees.
The US Department of Labor estimates that over a lifetime individuals with an advanced degree have the potential to earn nearly twice that of a person holding a bachelor's degree.
Education pays in higher earnings and lower unemployment rates
Source: Bureau of Labor Statistics
Specific to this state, the Missouri Economic Research and Information Center estimates that by 2022 there will be 18,091 job openings for graduate degree holders in "Grade A" jobs and other 15,400 openings in "Grade B" jobs. The Grades A and B indicate categories of careers with projected growth rates of 15.3% and 9.8%, respectively. MERIC estimates the average wage for professionals in both career grades exceeds $78,000 annually.
Graduate education is an investment in human capital — a skilled and knowledgeable work force for Missouri.
Leading scientists in the US conduct their research in Missouri. Graduate students who work in their laboratories have witnessed both medical discoveries and technological advances. As future scientists, they will carry forth a mission of protecting the well being of our society.
Millions of federal grant dollars help to support graduate education in science, technology, mathematics and engineering. Over the long term, these external funds lead to expenditures and investments that help to spur the state's economic development.
Graduate education heightens students' global awareness. As the US becomes increasing interdependent with other countries, better understanding of world health, politics and commerce is essential.
Missouri Department of Economic Development. The ABC's of Missouri Career Grades 2012-2022 Report by Missouri Economic Research and Information Center.
Commission on the Future of Graduate Education (2010). The Path Forward. Report sponsored by the Council of Graduate Schools (CGS) and Educational Testing Service (ETS).
The Commission on Pathways Through Graduate School and Into Careers (2012) Pathways Through Graduate School and Into Careers. Report sponsored by the Council of Graduate Schools (CGS) and Educational Testing Service (ETS).
Council of Graduate Schools. (2008). Graduate Education and the Public Good
Council of Graduate Schools. (2007). Graduate Education: The Backbone of American Competitiveness and Innovation
“Our graduate schools are epicenters of discovery, innovation, and application, leading to advancements that affect every one of us.”
Debra W. Stewart, past president, Council of Graduate Schools