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But what are the highest-paying bachelor's degrees? Physician/Specialist. Asian American households make the highest median annual income at around INR 7 million. Payscale reports that other operations research majors make close to the same amount. A bachelor's in computer science teaches students about programming languages, computer architecture, and software development. As income disparity rises in the United States, education has emerged as a significant factor affecting earning potential and employment rates. The BLS projects a slower-than-average 2% job growth for these workers from 2021 to 2031. Someone early in a telecommunications engineering career can expect an annual salary of around $72,400. The average starting salary for all college graduates with a bachelors degree was $55,260 in 2021, but some majors can earn significantly more. Brenna Swanston is an education-focused editor and writer with a particular interest in education equity and alternative educational paths. She currently works as a writer and consultant. The BLS reports that the median salary for chemical engineers was $105,550 in 2021. With the dramatic rise of online shopping, packaging is more important than ever. The bottom 10 majors after five years are mostly liberal arts degrees, and they all pay less than $40,000 in wages right after college. 6. Picking a college major can sometimes feel like predicting the future. The systems engineering major can encompass building, analyzing and managing systems. In three years, degree holders are earning a median salary of $76,700 annually. After attending medical school, psychiatrists complete a four-year residency. Kat Tretina is a freelance writer based in Orlando, FL. Many of the highest-paying careers are related to business leadership, healthcare, finance, and tech. After graduation, you can work in an office or at drilling sites to design and develop methods for extracting oil and gas deposits. Christine Darden, a NASA aeronautical engineer, is honored at a Women's History Month Capitol Hill event in March 2019. Retired businessman who paid OceanGate $110,000 for a Titanic dive 2 years ago says it was a kamikaze operation. Systems engineer Dragana Perkovic-Martin points to a rendering of the ISS-RapidScat instrument, which is attached to the International Space Station, in this 2013 photo taken at the NASA's Jet Propulsion Laboratory in Pasadena, California. Operations Research & Industrial Engineering. This photo from September 2022 shows Erik Lucero, lead engineer of the Google Quantum AI on Google's Goleta, California campus. A degree in construction engineering management can teach students oversee building projects. Simon Bernard (left) and Alexandre Decelote (right) pose beside a ship made entirely of plastic in Sept. 2022. Jeff Levy, an independent educational consultant in Santa Monica, warns students not to pick a major solely because of its potential salary. The median pay for all software developers was $120,730 in 2021, according to the BLS. An economics degree ranks as one of the highest-paying bachelor's degrees. Before her work on higher education data trends, Jane was a news writer and the managing editor for an academic journal. Air Traffic Controller. A degree in manufacturing engineering technology has an early career median annual pay of $72,700. How to Earn Highest-Paying Degrees FAQ 10 Highest-Paying Bachelors Degrees The highest-paying bachelor's degrees include majors in STEM, social science, Many tech companies hire computer science majors, but they also hire candidates who complete coding bootcamps or other majors. Students in a chemical engineering major learn to develop, design and operate chemical processes and products. The BLS reports that nuclear engineers made a median annual salary of $120,380 as of 2021. But some college majors appear to offer better-than-average chances at a lucrative career. Performance information may have changed since the time of publication. In this photo, a telecommunications engineer works on a mobile phone mast in March 2022. All Rights Reserved. For example, education and social work majors can find jobs that pay well above average. Terms & Conditions. Its no secret that a college degree can lead to higher lifetime earnings. 1. Both in-person and online degrees can lead to high-paying jobs. Elon Musk. During an economics program, undergraduates study microeconomics, macroeconomics, and econometrics. Electrical engineers build electrical tools. Depending on the specific major, those studying the sciences made a median early-career salary of $40,000-$55,000 as of February 2023. In November 2022, NASA launched the Artemis I flight test from the Kennedy Space Center in Florida. But your major can play a big role in your earning potential. On the whole, 2020s graduates were off to a better start than those who graduated in the two years before. With a bachelor's degree in physics, the study of matter and energy, one can expect an early career median pay of $72,700 a year. BestColleges.com is an advertising-supported site. Students study circuit theory, electrical systems design, and engineering design during their program. The median early career salary for people with this degree is $99,800 a year. This compensation comes from two main sources. The early career median pay for people who major in this degree is $73,500 annually. Students learn about materials science, engineering principles, and geology within an engineering major. The study tracked "mid-career" ages for graduates between 35-45, and found that the average pay for all majors goes from $46,891 to $74,123 in that time. They may also learn about automation in manufacturing, including integrating machines or robots into manufacturing systems. People who are interested in spacecraft and aircraft could major in aeronautical/aerospace engineering technology. Median National Salary: $129,000+. And while theres no guarantees in life, a new report reveals the 10 majors that tend to lead to the highest-paying jobs for new graduates in their first four years after school. Economics, math, and information systems and management topped the list with a median early-career wage of $54,000-$60,000. Those in business management earned the lowest median starting salary of $46,000 per year. Any aggregate list will give an incomplete look at what graduates can expect to earn. Corporate accounting is complex, and specializing in a degree like corporate accounting and finance, rather than a general accounting degree, can mean a median early career pay of $77,100 a year. Similarly, many top-paying healthcare careers require a graduate degree. www.bestcolleges.com is an advertising-supported site. After graduation, a degree in software engineering can lead to a career in software development and quality assurance. Of that top 10, the average yearly salary is just over $68,000, with computer engineering paying $74,000 in median wages the most of all majors. Computer science also has one of the lowest underemployment rates of 19.1%. It's made with fully automated artificial intelligence and no humans are needed onboard. We'd love to hear from you, please enter your comments. After earning an applied economics degree, graduates often pursue high-paying careers as financial analysts. Math is still an important field, and a computational and applied mathematics degree could have median early-career pay of $83,200. 8. They determine the likelihood of risks, like accidents and natural disasters, by using statistical analysis. Within four years of graduation, some majors stand to earn as much as $256,539, while others make less than $10,000 per year, according to a new report from The HEA Group, a research and higher education consulting firm. In this photo, a dental hygienist works on a patient's teeth at the Bread for the City charitable dental clinic in Washington, D.C. Industrial and systems engineering teaches students how to yes analyze, improve and design industrial systems. What is a software engineer? Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. As of 2021, the median pay for aerospace engineers was $122,270, as per the BLS. Munoz works for a charitable organization that provides prosthetic, customized limbs for children. Industrial engineers design systems that improve efficiency. Powered and implemented by Interactive Data Managed Solutions. Many accredited colleges offer online bachelor's programs for students seeking a more flexible enrollment option. While median income is a helpful way to gauge the money-making potential of a career, you can also consider which majors are in-demand to measure employability. The No. How Long Does It Take To Become An Anesthesiologist. Engineers work with a lot of metals and plastics. People curious about boating routes can major in marine transportation management. Consider dental hygiene. The top-earning majors are in so-called STEM fields, or degrees in science, technology, engineering and mathematics. They also learn how to create prototypes and run tests. People with these degrees could make a median salary of $82,300 a year during the first three years of their careers. Applied Mathematics 1.1.7 #4. After earning a computer science degree, graduates can work in diverse roles, including software developer, systems architect, and information security analyst. In this Nov. 2022 photo, an electronics technician demonstrates a model of a sorting system to a trainee. Highest-Paying College Majors: Full 2023 Statistics. Elon Musk is a renowned entrepreneur and businessman known for To understand how the highest-paying jobs fit into the overall employment landscape, lets start with some key facts about U.S. workers. Petroleum Engineering. The engineering management degree combines engineering principles with administration and management. Before choosing a major, look into common educational requirements in your specific field. Information provided on Forbes Advisor is for educational purposes only. Powered and implemented by Interactive Data Managed Solutions. The early career median pay isn't bad either: $72,300. Whether youre a college student choosing your major or a working professional contemplating a career shift, many factors contribute to picking a job. There are several computer science degrees in Payscale's top college major rankings, and they all have a similar salary point. Air Traffic Controller Median National Salary: $129,000+ Number of Jobs: 24,000+ Job Growth 2020 2030: 4% (slower than average) Job Duties: Air traffic controllers coordinate the flow of aircraft to ensure safety. Consider blending the worlds of oil and technology. However, this figure varied widely by field.Note Reference [1] This report breaks down income by major, including the highest-paying college majors. Majoring in information technology or computer science can be relatively easy for some students, while others may find these fields quite difficult. A bachelor's degree in business computing or business management includes IT and management training. Yu-Jui Huang, seen here in this June 2021 photo, is an assistant professor in applied mathematics at the University of ColoradoBoulder. Offers may be subject to change without notice. The 10 highest-paying jobs as of 2021 were: While earning potential should play a role in your choice of major, its not the only factor to consider. Explore average salaries of other popular majors in this report, including business and computer science. According to the BLS, many jobs exceed the $100 per hour threshold, including chief executive officers, physicians and surgeons, and petroleum engineers. Earnings By Education As income disparity rises in the United States, education has emerged as a significant factor affecting earning potential and employment rates. The median salary for electrical and electronics engineers was $101,780 in 2021, according to the BLS. There are only 104,200 jobs for operations research analysts, per BLS data, but the field is expected to grow faster than average by 23% this decade. This translates to roughly 3,300 job openings each year on average for the next 10 years. There's theoretical physics, and then there's applied physics, which marries principles to practical uses. Sign up now:Get smarter about your money and career with our weekly newsletter, Don't miss:Disney is hiring TikTok creators you need to love theme parks, food and social media, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. The path to success: 10 degrees that guarantee high-paying progressive careers. The non-engineering majors in the top 10 are biomathematics, marine transportation, veterinary medicine, computer science and operations research, which typically focuses on the development and application of mathematical or simulation models to solve problems with operational systems. Petroleum Engineering: $85,000 The The mid-career median wage range was $75,000-$99,000.Note Reference [2], Computer science majors made a median early-career salary of $73,000 as of February 2023, according to NY Fed. Plumber. Petroleum engineers create ways to extract oil and other natural resources from underground deposits. The early career median pay is $73,600. Lisa Harvey, a cognitive scientist, is seen here in March 2006 in Boston with a model brain. Compare your school matches and apply to your top choice today. How much can you earn with a bachelor's degree? With so much personal data finding its way online, information security is more important than ever. What are the easiest highest-paying medical jobs? He co-founded companies like PayPal, Tesla, SpaceX, Neuralink, and The Boring Company, For more information, check out our guide that compares computer science vs. computer engineering. Actuaries also complete a certification process in their specialty area, such as health insurance, car insurance, or investments. Nanotechnology, the study of proteins these kinds of sciences fall under chemical and biomolecular engineering. The highest-paying bachelor's degrees include majors in STEM, social science, and business. Computer engineering deals with hardware rather than software. Workers prepare packaged food bowls at the Amy's Kitchen facility in Santa Rosa, California in this photo. And the median early-career pay? Darden's life was dramatized in the film "Hidden Figures.". Librarians manage library resources and assure that library materials are current. A Master's in Business Analytics equips graduates with advanced analytical skills, statistical modeling techniques, and the ability to derive actionable business intelligence. Computer sciences and math are also the top-paying specialties for those with a bachelor's degree, with an average expected salary of $72,173 for computer science and $63,316 for math. Some majors can lead to high-paying careers after earning advanced degrees or gaining some work experience. Payscale also adjusted the figures for inflation. They study engineering, chemistry and physics. First Destinations for the College Class of 2021, The Labor Market for Recent College Graduates, Chemical Engineers. According to 2021 data from the Bureau of Labor Statistics (BLS), chemical engineers earned a median salary of $105,550. 1. Financial analysts also manage portfolios and recommend investment strategies. Also known as information technology (IT) project managers or IT managers, these professionals oversee an organizations computer-related activities. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. Plus, all college graduates' salaries improve over time, regardless of major. The capsule contained cometary particles for NASA to study. Similar marine engineering majors are also within the $80,000 range. NACEs report looked at the average starting salaries for entry-level positions; it did not take into account other compensation like bonuses, commissions or additional benefits. by Chriselle Sy December 27, 2022 in Majors & Careers 0 Table of Contents Whats the Best PhD to Get? Are you sure you want to rest your choices? At some schools, software engineering is included in a computer science curriculum. She's pictured here during the Chainalysis Links conference in New York in May 2022. Last Modified Date: Thursday, September 8, 2022 That pay is nearly on par with what you'd earn for a college major in family and consumer sciences a life-skills college degree that ranks the worst in terms of median pay within five years of graduation, with yearly wages of $32,000. The report also took a look at what the most popular majors tend to pay, using data from the U.S. Department of Education that reflects the average pay for four years after graduating, and only three lead to early-career salaries over $50,000 per year, on average. Here are twelve of the best jobs you can get with an Associates degree: 1. Similar welding engineering degrees have comparable early career pay. Research physicist John F. Clauser poses for a photo at his home on Oct. 4, 2022 in Walnut Creek, California. They specialize in financial information that clients must disclose by law, including corporate earnings reports and income tax returns. WebAn associate degree is a great way to kick off a high-paying career, especially in the Healthcare, Technology and Engineering fields. These engineers are responsible for infrastructure and processes that supply society with clean air and water, among other critical resources. The median early-career pay for people who major in welding engineering technology is $80,900 a year. Follow. Michael Itzkowitz, the founder and president of The HEA Group, analyzed data collected by the U.S. Department of Education from more than two million students who received federal financial aid and graduated in 2015 or 2016. Related careers include software quality assurance analyst and software tester. When thinking about salaries after graduation, the best majors in college tend to be related to science, technology, engineering and mathematics (STEM). In an uncertain job market, its not unusual for workerscurrent and prospectiveto turn to the sure thing. Software engineering majors use engineering principles to develop, design, test and troubleshoot computer software. An award-winning historian and writer, Genevieve Carlton, Ph.D., has published multiple scholarly articles and a book with the University of Chicago Press. The highest-paying jobs with a bachelor's degree include careers in tech, engineering, business, and healthcare. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. BlackRock CEO Larry Fink, who faced intense backlash for championing ESG, says hes ashamed the topic has become Cannabis company once worth $19 billion is now so beleaguered that an analyst predicts its stock is heading to zero, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Rather than choosing a bachelor's degree based solely on projections, choose a degree that builds future-proof skills. A recent study from the National Association of Colleges and Employers (NACE) looks at the top-earning majors for the class of 2020and, as you might expect, the technology-centered ones top the list, with petroleum engineering leading the group. As an electrical engineer, you can expect to design, develop and maintain electrical equipment, including power or utility systems. This is much higher than the national average growth rate across all occupations of 5%. Cole Schotz P.C. Thomas Plaisted, a materials engineer at the U.S. Army Research Laboratory, works on a safer football helmet for the NFL in this 2015 photo. They are co-founders of eco-friendly marine transport company Plastic Odyssey. A-Z INDEX | OOH SITE MAP Highest Paying Occupations PRINTER-FRIENDLY Highest paying occupations: 20 occupations with the highest median annual pay. Your college major can have a profound impact on your income. 1 Top 10 Highest Paying College Majors 1.1 Top Highest Paying College Degrees Worth Pursuing. The median salary for computer hardware engineers was $128,170 in 2021, as reported by the BLS. The storage and retrieval of blockchain, crypto, NFT and Web 3 ecosystems is a hot topic. She specializes in helping people finance their education and manage debt. Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. This was even lower than the unemployment rate for chemical engineering majors (19.6%) and aerospace engineering majors (27.7%). If possible, pursue internships to get firsthand experiencecheck out our guide to learn how to find internships. Yes, it's the science of paper more accurately, a branch of engineering that involves converting raw materials into paper products and co-products. In this March 2021 photo, physician assistant Alyssa Hernandez prepares doses of the COVID-19 vaccine at the Stacy Medical Center in Los Angeles. Over half of all foreign language graduates (50.5%), chemistry majors (65.4%), and physics majors (69.8%), share their majors with graduate level degrees.Note Reference [2] This means roughly 65% of bachelor's degree-holders in chemistry, for example, go on to get a master's or doctorate in that same field. / CBS NEWS. Some pursue further training in subspecialties like forensic psychiatry or adolescent psychiatry, and most pursue board certification. According to the BLS, environmental engineers earn a median annual salary of $96,820. Related careers include nuclear engineering. This major involves chemistry, soil science, physics and biology, along with the study of certain social sciences. Still, earning potential is a key concern, especially if youve invested time and money in higher education. An engineer in Los Angeles shows off a tattoo of the 6th Street Bridge she helped design and build in June 2022. Over the course of a lifetime, it's a difference of $3.4 million. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. 3. Most professionals in this field hold a bachelor's in electrical or electronics engineering. According to the BLS, health services managers earned a median salary of $101,340 annually in May 2021. So, what are the highest-paying jobs you can get? 3. Elon Musk Elon Musk is a renowned entrepreneur and businessman known for his progressive career in the fields of technology and transportation. Mechanical Engineer 1.1.4 #7. Take our quiz and we'll do the homework for you! Even if a field's projected salary seems decent, it's worth considering other factors when choosing a major. She holds a Ph.D. in history from Northwestern Madison Hoehn has worked as an associate editor for BestColleges, focusing on coding bootcamp rankings and the skilled trades. Weve included data from sources like the U.S. Census Bureau and the Bureau of Labor Statistics (BLS) to provide context about salary and employment trends. Entrepreneur mathisworks/Getty Images Commercial pilots lead the list with an annual salary of $135,000 a year. Job Electrical Engineering & Computer Science (EECS) 4. They design motors, communications systems, and other equipment that uses or generates electricity. Those without a higher school diploma or GED certificate had weekly median earnings of $626. As a highly specialized field, this major tends to require more hands-on, practical skills than some other computer science majors. Yixue Li, engineering manager at Pinterest, was a keynote speaker at 2019's Structuring Chaos: The Next Generation of Search panel in New York. Hong Vu waits to receive her bachelor's degree in nursing science at the Alvernia University spring commencement ceremony in this May 2015 photo. However, STEM and business aren't the only lucrative options. While electrical engineering is often offered as a specialty within an engineering or systems engineering major, some schools offer it as a standalone major. Flight attendant: In between flights, flight attendants check Chemical engineering majors learn the principles of chemistry, biology, physics and math. Similar majors include construction science and building construction, both of which offer salaries in a similar range. 1 spot goes to electrical engineering and computer science. CPAs need additional coursework beyond the bachelor's degree to earn their license. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. For comparison's sake, a minimum wage job that pays $15 per-hour works out to $31,200 in yearly wages, if you were to work 40 hours every week. Mid-career pay: $182,000 Focused on extracting natural gas and oil from the earth and developing new Doctors go to school for years, but people with a bachelor's degree in nursing science can earn a median annual salary of $73,400 in their early careers. FORTUNE may receive compensation for some links to products and services on this website. Similar to business majors, less than one-third (31.8%) of computer science majors went on to get a graduate degree in computer science. In this photo, Scott Wilson, a senior optical engineer at DataPlay in Boulder, Colorado, works at an optical aligning station. Master's in Business Analytics With the advent of big data, organizations seek professionals who can extract meaningful insights and drive data-informed decision-making. She holds a BA in English l 2023 BestColleges.com, a Red Ventures Company, The Public Ivies, Little Ivies, and Other Ivy League Equivalents, bachelor's in electrical or electronics engineering, Do Not Sell or Share My Personal Information. They may direct construction or manufacturing, managing production schedules, staff and budgets. Electrical power engineering focuses on just that the generation and transmission of electric power. People with a master's earned a median of $1,574 per week. After graduation, you can work in laboratories or manufacturing facilities to build and test computer hardware. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. The answer depends on your strengths and weaknesses. According to the National Association of Colleges and Employers (NACE) winter 2023 salary survey, the highest-paying majors for college graduates with bachelors degrees are all in STEM. Pharmacy, biochemistry, chemistry, and physics majors made the most by mid-career with median wages ranging from $80,000-$100,000. Less than one-third of all business majors went on to pair their bachelor's degree with a graduate degree. Chemical engineering majors topped the list of highest incomes right after college, earning a median annual wage of $75,000 as of February 2023, according to the Federal Reserve Bank of New York. Computer While everyone wants to increase their income, not everyone has the time to enroll in a full college program and earn a new degree. Molecular Biologist 1.1.5 #6. But one detail can be particularly important: What career makes the most money? This photo features MIT structural design student Tierra Guinn speaking at a charity event in April 2017. Learn more about degrees leading to high-paying careers. Here are the 10 highest-paying college majors, four years after graduation: The majors with the highest earning potential tend to provide specialized, technical Plumber. Marketing and general business majors faced the highest unemployment rates (6.6% and 5.3% respectively). Finance Majors 1.1.2 #9. Best Credit Cards for International Travel, National Association of Colleges and Employers, computer science vs. computer engineering. These doctors treat eye diseases and vision problems, perform eye surgery, and conduct research. [4], Depending on the specific major, those who studied business earned an early-career median wage of $46,000-$66,000 as of February 2023, according to NY Fed. Historically, systemic racism and sexism have limited access to high-paying jobs for women and people of color. Image Credit: NoSystem images / E+ / Getty Images, 2023 BestColleges.com, a Red Ventures Company, The Public Ivies, Little Ivies, and Other Ivy League Equivalents. A girl examines a display at the Hayden Planetarium exhibition of the Department of Astrophysics at the American Museum of Natural History in this April 2014 photo.

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