College Majors Part II

We all know that the cost of college has increased at a higher rate than the general inflation rate, and you’ve probably heard about the high amount of debt students have upon graduating. The debt situation can be made worse when new graduates find they are either unemployed or underemployed in their chosen field. I recently talked to a couple students about their choice of majors, and heard them say that they based their choice at least partly on the chance of getting a job after graduation.

I next looked up best majors in terms of high employment / low unemployment rates. As one article put it, “What you make depends on what you take”. Generally speaking, people with degrees in the education and health fields have a higher chance of finding employment than those with, for example, degrees in fields such as architecture and arts.

A recent PEW report concluded that, in spite of the high cost of college, graduates fared better than their less educated peers during a recession and recovery in terms of employment rates and lifetime earnings. While it’s good to remember that your choice of major is likely to be a large factor in what you earn in your lifetime, picking a field in which have little or no interest can backfire as you may not enjoy what you do on the job.

That being said, here are the top 10 college majors ranked by starting salaries (in descending order, Source)

  • Information Systems
  • Accounting
  • Finance
  • Economics
  • Nursing
  • Computer Science
  • Civil Engineering
  • General Engineering
  • Electrical Engineering
  • Mechanical Engineering

Please note that some of these majors have higher than average unemployment rates. And, as one man put it, if you can find something that you enjoy doing and get paid for it, you’ll never work a day in your life.

Comments are closed.