We recently looked at popular academic qualifications in the German job market and how much they earn, evidently the doctorate was the highest earner and the most popular. However, the question begs, does it always make sense to get a doctorate?
Last year, over 27,000 students got a doctorate in Germany. This is the highest number to be recorded in German history.
According to a study released recently, a doctorate can earn an individual up to 32%, or 2000-4000 euro, more in their gross income. However, in some professions the difference between incomes of an employee with a doctorate to one without was less than 10%, a margin that can easily be bridged by years of experience in the field.
Worth noting however, is that even for those with a higher income due to their doctorate, this only affects the start-up income. Meaning it is possible for an employee without a doctorate to earn more than one with a doctorate after a few years of work.