The Declining Racial Income Gap for Graduate Degree Holders

In 2004 blacks with a master’s degree had a median income of $49,716. This was 98 percent of the median income of non-Hispanic whites with a master’s degree. Furthermore, in 2004, the racial income gap for master’s degree holders closed substantially. In 2003 blacks with a master’s degree had a median income than was 88 percent of the median income of whites who possessed a master’s degree.

In 2004 blacks with a professional degree had a median income of $72,749. This was 95 percent of the median income of whites with a professional degree. In 2004 black professionals increased their median income by a whopping 18 percent.

There is also an income gap between blacks and whites who hold doctoral degrees. But this time the racial gap is in favor of blacks. In 2004 blacks with a doctorate had a median income of $74,207. This was slightly higher than the median income of whites with doctoral degrees, which stands at $73,993. The high demand for black academics at American colleges and universities produces a good job market with high wages for blacks with doctoral degrees.

Copyright © 2007. The Journal of Blacks in Higher Education. All rights reserved.