A recent New York Federal Reserve study reveals that engineering degrees occupy nine of the top 16 college majors with the highest incomes five years after graduation, with computer engineering majors ranking first with an annual median salary of $80,000. On the other hand, liberal arts, performing arts, and theology majors earn the lowest salaries within five years of graduating from college, with a median annual income of $38,000. The study highlights the disparity in earnings between different majors and the factors contributing to it, such as demand, skills, and job market dynamics.
A recent analysis by the New York Federal Reserve reveals that liberal arts, performing arts, and theology majors earn the lowest salaries five years after graduating from college, with a median annual income of $38,000. Other low-paying majors include leisure and hospitality, history, fine arts, and psychology. In contrast, the highest-paid majors are in science, technology, engineering, and mathematics (STEM) fields, with computer engineers earning the highest median income of $80,000 right after college and $133,000 by ages 35 to 45. Education majors, particularly early childhood education, earn the least mid-career, highlighting the disparity in earnings across different fields.
The debate over whether college majors, particularly liberal arts degrees, are worthless is ongoing. While some argue that certain jobs require specific degrees, others believe that employers are more interested in skills, critical thinking, and problem-solving abilities. It is important to consider your own interests and performance in a major before committing to it, as job success often depends on pursuing a career in the right industry. Ultimately, the jobs you choose to pursue will have a greater impact on your earnings than your major.
A new analysis from the HEA Group found that college majors in STEM fields tend to lead to the highest salaries after graduation, with naval architecture and marine engineering being the highest-earning majors. However, the most popular majors among students are business administration, nursing, and psychology. Pursuing a top-earning major may not be perceived as a path to fulfillment, or simply that many students don't have the technical skills to pursue computer science or engineering in college. With the increase in college costs, students are increasingly under pressure to pick a major that will allow them to repay their loans and help them gain a foothold in the middle class.
A new analysis from the HEA Group found that college majors in STEM fields tend to lead to the highest salaries after graduation, with naval architecture and marine engineering being the highest-earning majors. However, the most popular majors among students are business administration, nursing, and psychology. While pursuing a high-earning major may not be perceived as fulfilling, students are under pressure to pick a major that will allow them to repay their loans and gain a foothold in the middle class. Graduates from about 3% of college programs are earning less than $20,000 annually, which could lead to financial hardship. Pursuing high-paying majors at top universities can add juice to earnings, but very few are able to gain entry into these schools.
Some associate degree programs can lead to higher earnings than typical bachelor's degree holders, with 17 majors identified by The HEA Group. Many of the top-earning associate programs are focused on STEM subjects, with physical science technologies at the top of the list. However, the majority of grads from the roughly 130 associate degree programs tracked by the HEA Group's research earn less than the average bachelor's degree holder. Despite lower costs, an associate degree can still result in significant student debt, with grads in alternative and complementary medicine having the highest median debt of $38,530.
