Money. It is never something we really give much thought to when we are young, ambitious and adventurous. We decide our major based on what we love doing and what we are good at – have a knack for. But, what if our romanticised view of our career path takes a severe battering, when it comes to money, just based on that single choice? What we study at college has the potential to reduce or increase our projected income by more than 300%.
It is not surprising that the majors converted into the most wages fail to capture our imaginations as instantly as those that are lower earners. A report in 2011 used data from the U.S Census, the Georgetown University Centre on Education, and the Workforce’s ‘What’s It Worth: The Economic Value of College Majors’ report to look at 171 different majors and their earning potential.
Time Lists gave a snippet of that information by presenting the ten highest and the ten lowest earning majors. Take a look at them and ponder over which ones you might jump at and which ones as a prospective student you will not even have considered:
Highest money earners
- Mining and Mineral Engineering
- Metallurgical Engineering
- Mechanical Engineering
- Naval Architecture and Marine Engineering
- Electrical Engineering
- Chemical Engineering
- Aerospace Engineering
- Mathematics and Computer Sciences
- Pharmacy and Pharmaceutical Sciences and Administration
- Petroleum Engineering
Lowest money earners
- Health and Medical Preparatory Programs
- Visual and Performing Arts
- Communication-Disorders Sciences and Services
- Studio Arts
- Drama and Theater Arts
- Social Work
- Human Services and Community Organizations
- Theology and Religious Vocations
- Early-Childhood Education
- Counseling and Psychology
It raises the question that if so many of us choose a lower earning major then why are we spending all that money for college? The careers listed above can be attained via hands on work experience. You could work your way up to the top, earning as you go, and end up making the same money as your graduate colleagues.
This is not always the case – some professions call for a college major – but if we are following our hearts rather than our purses then maybe college just adds a financial burden to that.
If there is one thing this article proves beyond doubt – the big money is in engineering! Is there any wonder that men as a whole earn more than women? I am just saying! Women engineers exist but maybe it is time more of us opted for a career that is no longer out of our reach! I wouldn’t jump at a petroleum or metallurgical engineering role but aerospace and marine engineering sound promising!
Read more: Complete List – The 20 Best- and Worst-Paid College Majors – TIME
Use College Comparison Tool to Compare Your College Choices Now!
Mike hudson says
Hi Jodie,
Great Information about money honey after college !
when i was reading, I thought you raise a good point for the benefit of our young generation because many times they led astray while choosing a right field for their future.
Thanks a lot ! :)
Dave Kraemer says
our kids have all struggled to launch and they had no student loans– its a very different world than when i graduated for sure.
Rory Welch says
But, you are absolutely correct hence my point about less expensive alternatives. And, it is why I don’t support student loan forgiveness.
Rory Welch says
The problem is there are thousands of people who have done this and have helped accumulate $1.3 trillion in student loans they now don’t want to repay.
Jennifer Flint says
How can any sentient being not know this by now? What intelligent person pays $50,000+ a year in tuition to major in 18th century Russian poetry, or anthropology, or interpretive dance, and then whines after graduation about heavy student loan debt and not being able to find a job? Jeezy Pete, they, or their parents, should do a little research. Anyone with a 1400+ on the SAT (or 32+ on the ACT) and a 3.5 high school GPA can go to the University of Alabama tuition free, and they offer 80 different undergraduate degrees!! (Roll, Tide.) There are similar programs at decent colleges across the country for good students who want to major in fields that are less lucrative, and not graduate 4 years later buried in student loan debt.
Rory Welch says
The reason this is good info isn’t so someone can chase the money, but before someone goes and accumulates $100 thousand in student loans to chase their passion, knowing they will be able or not to repay those loans is useful. Maybe they can choose a less expensive alternative versus taking on the debt and then expecting to not repay it when they get out because they don’t make enough money.
Jennifer Flint says
What a soulless life an individual must lead to determine the direction of his/her life’s work by how much money will be made. What about passion? What about a calling? What about jumping out of bed every morning when the alarm goes off because you just can’t wait to get your job and do what it is you love?
Rory Welch says
Great info. Thanks for sharing.