The World’s Most Expensive Degrees

Columbia Law School: >$75,000 per year

University of Chicago Law School: >$100,000 per year

The Juris Doctor (J.D.) degree spans over 3 years in most American law schools and stands out as one of the most expensive academic pursuits globally. Done after completing the undergraduate program, the course also demands the opportunity cost of foregoing full-time employment during the three years. 

After 3 years of rigorous coursework and passing the bar exam, a J.D. degree opens doors to various career paths. You can practice law as an attorney in private practice, work for a law firm, serve as a corporate counsel, pursue public interest law, or work in government agencies.

If any graduate plans to work in a different state then there are different sets of requirements that need to be fulfilled, which indeed entail additional expenses. Though the course promises prestige and potential career opportunities, not all the graduates find themselves reaping the full benefits.

When weighing the decision to pursue a career in law, it's crucial to consider various factors beyond financial compensation and prestige. Having said that, for those with a passion for the law and a commitment to serving justice, a J.D. can indeed lead to a fulfilling and well-compensated career path.

Expected Annual Salary: >$55,000 [Source: U.S. News and World Report]

Harvard University(M.D.): >$70,000 per year

Columbia University: >$70,000 per year

Case Western Reserve University (Cleveland): >$70,000 per year

The Doctor of Medicine (M.D.) degree program covers an extensive curriculum and training, making it another expensive academic pursuit. In this course, aspiring physicians acquire a deep understanding of various scientific disciplines, clinical skills, and ethical principles essential for effective medical practice.

The curriculum typically spans four years of intensive study as well as clinical rotations in different medical specialties. The tuition fees during these four years are considerably high, exorbitant in case private institutions. In the case of public medical schools, the cost is comparatively more for out-of-state residents.

The clinical training time is another crucial and expensive component medical students face. This hands-on training in patient care under the supervision of licensed physicians requires administrative costs, facility fees, malpractice insurance, and supervision by attending physicians.

If the rotation takes place at locations distant from the medical school campus, then students have to bear travel expenses as well. Aspiring physicians must pass standardized exams such as the MCAT (Medical College Admission Test) and USMLE (United States Medical Licensing Examination). These exams also entail additional fees and expenses.

Expected Annual Salary: $251,990 [Source: U.S. News]

American Film Institute: >$60,000 per year 

Chapman University: >$60,000 per year

The four-year curriculum of photography covers a wide range of topics and techniques in photography. The tuition fees, room and board, textbooks, equipment, and supplies are the most significant expenses associated with this course. 

Specialized equipment such as high-quality cameras, lenses, and lighting gear are also essential for the course which makes the degree costly. Additionally, expenses for software subscriptions, printing materials, and studio rentals also add to the charges.

The projects you will be assigned within your curriculum will also demand additional resources and expenses. Upon graduation, you will also need to build a strong portfolio to apply to different jobs. A well-built portfolio means a high investment. 

Expected Annual Salary: $80, 000 to >$1,000,000 [Source: U.S. News]

Embry Riddle Aeronautical University:  Between $60,000-$80,000 (Full tuition fee)

Purdue University: $56,700 (Full tuition fee)

Who wouldn't have dreamt of being a pilot when they were little, right? The dream of soaring through the skies with wings of your own is indeed alluring. The desire to take to the skies often takes root at a young age with every passing plane in the sky, and the expensive aviation degree just makes the dream come true. 

The childhood dream comes with a hefty price tag though! The course solely is based on flight training, so the course fee is proportional to the number of flights you are put in. Not to be forgotten, you are paying for aircraft rental, fuel, instructor fees, and maintenance in a package. 

The expenditure extends through the license exams to work as professional pilots. If the graduate plans to fly larger or more complex aircraft, specialized training and evaluation are needed, so the financial commitment is never-ending in this degree. 

Expected Annual Salary: $148,900 [Source: U. S. News]

Yale University: >$45,000 per year

California Institute of the Arts: $52,850 per year

Ringling College of Art and Design: >$50,000 per year 

Graduate-level programs such as Master of Fine Arts (MFA) or Master of Design (MDes) are the most expensive degrees in the field of arts. These programs refine the artistic skills and techniques of students who aspire to live a life dedicated to creative expression and innovation.

Jeff Koons and Ai Weiwei are some renowned artists who have had their entire careers dedicated to their artistic practice. Both have completed their MFA from different universities. 

Some of the factors that make a graduate degree in Arts expensive are listed below:

• Specialized Instruction and Faculty Expertise
• Studio Space and Equipment
• Materials and Supplies (from paints and canvases to digital software and fabrication materials)
• Exhibition and Presentation Costs

Expected Annual Salary: $58,000 for an MFA holder [Source: U.S. News], $89,213 for an MDes holder [Source: Payscale]

Cornell University College of Architecture, Art, and Planning (AAP): $60,000 per year

Southern California Institute of Architecture: $27,281.00 per semester

Rice University: $35,704 per year

The length of the undergraduate architecture program spans five years, longer compared to any other undergraduate program. This long study time covers the breadth and depth of architectural principles, design theories, technical skills, and practical experience required for professional practice in the field.

The sources utilized during this time are what make the degree expensive. Architects also need access to expensive software tools and technology for drafting, modeling, and rendering their designs. The price of these software licenses and computer hardware are hidden costs that come with the degree itself. 

After passing the license exams of the National Architectural Accrediting Board (NAAB), you are considered eligible for the architecture profession. But if you are planning to pursue a Master's degree, done most often to specialize in a particular area of architecture, then another financial consideration arises.

Expected Annual Salary: $96,510 in 2022 [Source: U.S. News]

Berklee College of Music: >$40,000 per year 

The Juilliard School: >$50,000 per year

You may know many celebrities in the music industry who had no access to education. While formal education is expensive and time-consuming, the process can hone the skills needed to be a well-rounded musician. Lady Gaga and Paul McCartney are some examples of it!

The core of formal music education lies in a thorough understanding of music theory, sight-reading, ear training and instrumental or vocal technique. All the teachings happen in the presence of high-salaried skilled and experienced musicians.

You are not only paying for the experts but also for specialized equipment and facilities for their maintenance and upkeep. Moreover, project costs may come in the form of hiring musicians to produce professional-quality recordings, organizing events, and many more.

Expected Annual Salary: $81,411 [Source: U.S. Bureau of Labor Statistics]

Massachusetts Institute of Technology [MIT]: $82,730 per year

University of California: >$30,000 per year

Stanford University: $50,000 to $60,000 per year

The top-ranked engineering schools in the world can be quite expensive. Though the cost seems daring, many people adopt this degree as engineering is often associated with high salaries and graduates from a reputable college have a sure shot placement. 

Electrical engineering, mechanical engineering and aerospace engineering are considered hot degrees due to their high demand in the existing industries. American Society for Engineering Education(ASEE) has stated that around 20% of high school students express their interest in pursuing an engineering course. 

Engineering is itself a tough course and demands much hard work and dedication. The technical skills you learn over your college years will help to make you proficient in your respective field. These skills form the backbone of your engineering education, enabling you to tackle complex problems, analyze data, and design innovative solutions in your career journey.

Expected Annual Salary: $100,640 [Source: U.S. Bureau of Labor Statistics] 

Content Source: 

• Grad Guard
• Study International
• Prospects
• UNSW Sydney
• Berklee Online