New analysis highlights uneven labor-market payoff for degrees in an AI-driven economy, raising questions about which fields deliver return on graduate and undergraduate investment. A report from the Postsecondary Education and Economic Research Center estimates cost-adjusted outcomes for graduate degrees and finds some programs produce negative returns after tuition and fees. The study’s steepest declines are for graduate psychology degrees, with clinical psychology also showing negative cost-adjusted returns. Other graduate pathways—such as social work and curriculum and instruction—also land in the negative range, while some degrees like computer science show positive returns but at relatively modest levels after costs. For graduate school decision-making, the report underscores that “AI-proof” framing may not align with earnings reality, particularly as hiring and task requirements shift. It also comes as broader research continues to track how AI affects entry-level demand and wage patterns across AI-exposed occupations.