If you’re thinking about making a career change and going into molecular biology, you may be wondering how much money you can expect to make with your degree as well as what’s the highest salary that you can get as an MD or Ph.D. molecular biologist.

If you’re in doubt about whether you should go into molecular biology, this article will help clear that up, while also revealing the top 10 highest paying salaries for molecular biologists according to the Bureau of Labor Statistics.

Highest Paying Salaries for Molecular Biologists

10. Genomics Research Analyst

$70,520 – $122,340 per year: The field of genomics has quickly become one of today’s most popular areas in which to conduct research. The BLS (Bureau of Labor Statistics) expects employment for genomics research analysts to increase by 27% from 2012-2022. Individuals with a degree in biochemistry or biology are prime candidates for employment opportunities within firms and organizations that perform genomics research and development.

9. Contract Specialist

$91,000 – $100,000. A contract specialist may assist in a range of activities that do not require clinical competency but that nevertheless require scientific training. Contract specialists generally work for more established research institutions, in contrast to those that work independently.

According to Payscale, some contract positions can pay up to $100,000 annually and as a result, may be especially attractive to those who wish both to earn a high salary and have less administrative responsibility than an employee would.

8. Director, Information Systems and Technology

This job is by far one of my favorites because I like working with IT specialists. If you’re a senior IT specialist and looking to advance your career, then you will likely find yourself in demand in an expanding number of industries.

And if you’re looking to change careers, then you should look into starting off as a senior IT specialist. Not only do they make pretty decent money, but they also get to work on some pretty cutting-edge equipment and applications, and that’s before their salaries go up.

7. Biomedical Engineer

$85,520/year. While a physician will focus on treating patients with a medical condition, biotechnical engineers are responsible for developing devices to help patients manage chronic diseases.

Biomedical engineers might be responsible for designing glucose monitors and insulin pumps to keep diabetics healthy or wearable fitness trackers to remind cancer patients about their medication schedules. A bachelor’s degree in biomedical engineering can lead to a starting salary of about $85,000 per year. Expect compensation and bonuses to increase significantly as you gain experience and move up in your field.

6. Plant Scientist

$105,150 The bottom line: Plant scientists study plants and their growth in various conditions; they may work to develop varieties of plants that are more resistant to disease or drought. A Ph.D. is a common requirement for this position, as is extensive experience growing plants and dealing with regulatory issues.

Medical scientists use medical knowledge to solve problems related to human health. They might be involved in drug development or research on medical devices, among other areas. To be successful in these positions, you’ll need at least a master’s degree and some prior lab experience.

5. Medical Research Scientist

$69,300 – $106,400 The National Institutes of Health reports that medical research scientists earned a median salary of $69,300 in 2012.

Biomedical scientists perform experiments on living organisms in an effort to learn about human health and disease. They typically need a bachelor’s degree or higher in biological sciences, chemistry or another physical science.

Employers prefer applicants with master’s degrees as well as at least one year of work experience. Medical research scientists also must be able to communicate clearly and work well with colleagues and their findings are published in scientific journals.

4. Healthcare Informatics Manager

$169,350/year: As healthcare continues to be a hot industry and our population gets older, there will be more jobs opening up in healthcare information management. It is expected that a 28% increase in positions will open up between 2012 and 2022.

To become a Healthcare Informatics Manager, you need an advanced degree and experience in medical research. Keep in mind that along with higher salaries comes a great deal of stress as well.

3. Data Analyst

$118,540/year. Data analysts collect and organize data from a variety of sources and use it to guide businesses and organizations through their decision-making processes.

Although salary can be influenced by location, years of experience or education, data analysts with a bachelor’s degree in molecular biology reported salaries ranging from $76,660 (in Little Rock) to $108,680 (in San Francisco).

Data analysis is one of those job categories that’s all about being able to look at information objectively and find insights that other people may have missed.

2. (Tie): Interventional Cardiologist

$350,000 Annually. The top-earning specialties in medicine are often those in which technology and machinery can be used to make a diagnosis or perform medical tests that might otherwise be impossible or cause too much discomfort to patients.

In fact, of all medical specialties that earn more than $200,000 per year, 11 out of 18 are surgical subspecialties in which doctors use equipment like MRI machines and X-ray devices. Interventional cardiologists specialize in performing minimally invasive procedures like angioplasties (where a tube is inserted into an artery to unblock it) or coronary stents (small mesh tubes that hold open arteries).

This specialty is considered one of the most dangerous by doctors, but they also make some of the highest salaries.

1. (Tie): Infectious Disease Specialist

$404,440 The salary of an infectious disease specialist varies depending on his or her experience and level of training. As a general rule, infectious disease specialists earn more than their medical peers and are among some of the highest-paid physicians.

While it’s true that they have specialized skills and knowledge, they also take on a great deal of responsibility and sometimes perform procedures in hazardous conditions.

Infectious disease specialists typically receive six-figure incomes in addition to annual bonuses, benefits such as health insurance and pension plans, a generous amount of vacation time, holiday pay, or some combination thereof.

Conclusion

As with many things in life, you get what you pay for. If your education is geared towards an industry that has a high demand and a low supply of qualified candidates, then it’s likely that you will receive a hefty salary at graduation.

The other factor to consider is where your degree will get you to work. As each state varies widely in its licensing process and requirements, even students earning a biology degree in California may have different paths toward employment depending on their educational background. As long as there is a need, job opportunities should abound, and salary potential remains high for those who choose to study biology and its related sciences.