Here’s the core tension at the graduate level: higher salaries come with longer training paths, bigger tuition bills, and years of forgone earnings. An orthopedic surgeon earns $451,000 but needs 13 years and $250,000. A CRNA earns $223,000 after 10 years and $100,000—and earns full RN wages during the bridge years. Over 20 years, CRNA nets roughly $2.3M versus the surgeon’s $1.7M. The higher salary doesn’t always win.
We ranked 26 graduate-level health care careers by 20-year net earnings: total income minus education costs. This includes bachelor’s, master’s, and doctoral careers, plus 10 physician specialties. Salary data comes from BLS Occupational Employment and Wage Statistics (OEWS), May 2024. Physician salaries use BLS mean wages because the BLS does not publish medians above $239,200. Education costs come from College Scorecard and AAMC tuition data. For physician specialties, we account for residency wages (~$65,000/year), reducing the opportunity cost during those years.
We include physician specialties here because the comparison is the point. If you’re deciding between medical school, PA school, or an NP program, you deserve to see the numbers side by side—including the years of your life each path requires. Unlike our Highest-Paying rankings (which exclude physicians), this page focuses on the net return after all costs.
A word of caution that matters more at this level than any other: graduate programs are expensive enough and long enough that choosing wrong is costly. An athletic trainer with a master’s degree earns $60,000. A CRNA with roughly the same years invested earns $223,000. The education level is similar; the outcomes are not. Read the career descriptions carefully before letting the numbers drive your decision.
This is part of our Best ROI Health Care Careers series. Also see: Certificates | Associate’s Degrees
