“The numbers show that this extra one-to-two years of study paves the way to a job which pays, on average, $30,000 more in an annual salary than those holding just an undergrad degree in computing,” Craig Gotsman, a computer science professor and dean of the Ying Wu College of Computing at the New Jersey Institute of Technology, previously told Fortune. 

As a result, someone who is working in a tech or computer-related field could see a sizable bump if they’re willing to complete the coursework to earn a master’s degree. As for why these degrees are so lucrative? It comes down to supply and demand.

Why a master’s degree in computer science is worthwhile

People with advanced degrees in computer science are seeing pay increases for a simple reason: Their skills are in demand. As the world has gone digital, so have the needs of employers. And tech skills are not only in demand in Silicon Valley, nearly every conceivable industry and field is incorporating technologies of one type or another into their operational folds. 

Amid high demand for people who can create and implement those technologies, that’s also increased demand for master’s degree programs in computer science.

“We have seen big growth in the number of master’s degree students for our program,” says Terry Soule, a professor and chair of the computer science department at the University of Idaho. And many of those students are people already well into their careers who are looking for ways to open new doors and, naturally, plump up their paychecks, Soule adds.

“A lot of the people in our program are continuing education students—people who want to advance their careers,” he says. 

Students who pursue a graduate degree in computer science are likely to see a good return on their investment too. The average starting salary for master’s degree graduates studying computer and information sciences was nearly $103,000 in 2021, according to data from the National Association of Colleges and Employers. 

The number of opportunities for high-paying jobs in this field is likely to increase. The U.S. Bureau of Labor Statistics projects a 21% increase in employment of computer and information research scientists between 2021 and 2031, with median pay of more than $131,000 as of 2021.

The job market for computer scientists is shifting

There are myriad ways to use a graduate degree to your advantage, whether you’re trying to break into an industry or use it to snag a promotion and raise. While workers with computer skills are in demand, they’re fetching high salaries because they are largely scarce. That dynamic is changing, however.

One way in which the job market is becoming tougher for graduates is that employers are getting more selective. “Companies have been significantly increasing the difficulty of their interviews,” says Sam Gavis-Hughson, founder of Byte by Byte, a firm that helps software engineers land jobs at big tech firms. “Five years ago, most candidates would see fairly easy questions, at least for all but the top companies. Now you have second- and third-tier companies asking hard questions.”

What’s more, it could be harder to break into the job market as an entry-level computer scientist, at least in the short- to medium-term. Companies have laid off more than 120,000 tech workers in 2022. And Gavis-Hughson is expecting a “temporary slowdown of hiring, particularly for junior roles.” 

Still, graduate-degree holders, and especially those with experience under their belts, may hold an edge in the job market. A master’s degree can help get your résumé to the top of the stack and make you a more attractive candidate for many jobs, and you may also learn skills that qualify you for more senior roles. Those roles tend to come with higher pay scales, too, and open even more doors and opportunities. 

Why computer scientists need to pair education with experience

While a master’s degree in computer science can help boost your earning potential, students must also obtain and build a solid skill set. That’s why on-the-job experience is also so important to advancing your career in this field. 

“There’s a difference between being prepared for the job and actually having the direct skills needed for the job,” says Gavis-Hughson. “You’re not going to develop direct job skills in school. The way you build those skills is on the job.”

As such, a solid educational background (which may include a graduate-level education), paired with some on-the-job experience and potentially some upskilling along the way, is going to be the way to increase your salary significantly. 

“Computer science can put you on a good career track,” says Soule. “It can lead to a good salary and lots of opportunities.”