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No surprise, majoring in engineering and finance yields the biggest paydays five years after graduating college, while majoring in liberal arts or performing arts pays the least. But which specific majors result in the highest and lowest paydays? A recent New York Federal Reserve survey takes a look.
Looking at the broader jobs picture, over 175,000 jobs were added in April, according to the Bureau of Labor Statistics. The strongest growth was in healthcare, food service and local governments, but retail and e-commerce delivery got a boost from warmer weather. Some jobs require no college education, while others require a four-year degree or more.
If you are curious about analytical and technological concepts and enjoy math and science, then you might consider choosing a career in a STEM industry where you can earn some of the highest salaries after five years of graduating. On the other hand, if you prefer to pursue a major in performing and liberal arts or theology, you will likely earn some of the lowest salaries. That's according to the New York Federal Reserve analysis.
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Let's take a closer look at the ten highest and ten lowest paying college majors to see what to expect upon graduation.
College majors that pay the most five years after graduation
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| Major | Median Wage Early Career | Median Wage Mid Career |
| Chemical Engineering | $79.000 | $133,000 |
| Computer Engineering | $80,000 | $125,000 |
| Aerospace Engineering | $74,000 | $120,000 |
| Electrical Engineering | $72,000 | $112,000 |
| Mechanical Engineering | $70,000 | $111,000 |
| Computer Science | $78,000 | $110,000 |
| Finance | $66,000 | $104,000 |
| Industrial Engineering | $71,000 | $100,000 |
| General Engineering | $68,000 | $100,000 |
| Miscellaneous Engineering | $68,000 | $100,000 |
College majors that pay the least five years after graduation
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| Major | Median Wage Early Career | Median Wage Mid Career |
| Liberal arts | $38,000 | $65,000 |
| Performing arts | $38,000 | $64,000 |
| Theology and religion | $38,000 | $56,000 |
| Leisure and hospitality | $39,700 | $67,000 |
| General social sciences | $40,000 | $70,000 |
| History | $40,000 | $70,000 |
| Miscellaneous biological science | $40,000 | $68,000 |
| Fine arts | $40,000 | $68,000 |
| Treatment therapy | $40,000 | $67,000 |
| Nutrition sciences | $40,000 | $65,000 |
[Source: U.S. Census Bureau, American Community Survey-2022 data]
With a number of U.S. job seekers considering a career change in 2024, it makes sense to find out which jobs give you the best chance to make the highest wages and show the most or least potential for growth. No matter your passion, or if you plan to pursue a college degree or not, there is a job out there for you.
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For the past 18+ years, Kathryn has highlighted the humanity in personal finance by shaping stories that identify the opportunities and obstacles in managing a person's finances. All the same, she’ll jump on other equally important topics if needed. Kathryn graduated with a degree in Journalism and lives in Duluth, Minnesota. She joined Kiplinger in 2023 as a contributor.
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FAQs
Computer engineering majors ranked first with an annual median salary of $80,000, followed by chemical engineering and computer science — the only two other majors that earn more than $75,000 annually. They make roughly double that of the lowest-paid majors, which tend to be degrees in the liberal arts or humanities.
How can I make $100000 a year without a college degree? ›
9 jobs that pay $100K per year without a degree
- Information systems manager. ...
- Fire chief. ...
- Product manager. ...
- Senior engagement manager. ...
- Radiation therapist. ...
- Computer network architect. ...
- Senior real estate manager. ...
- Technical program manager.
Top 15 Quick Degrees That Pay Well
- Business Administration. A bachelor of business administration is one of the most popular undergraduate degrees. ...
- Communications. ...
- Criminal Justice. ...
- English. ...
- Finance. ...
- Healthcare Administration. ...
- History. ...
- Human Resources.
Chemical engineering was the highest-paying college major, with graduates earning $79,000 per year as a starting salary and $133,000 by mid-career. Business majors earned an early-career median wage range of $50,000-$66,000 per year. Computer science majors made an early-career median salary of $78,000 per year.
What major makes you the richest? ›
Top 7 degrees that make the most millionaires
- Engineering.
- Economics/Finance.
- Politics.
- Mathematics.
- Computer Science.
- Law.
- MBA.
32 jobs that pay 6 figures a year
- Biostatistician. ...
- Information systems manager. ...
- Actuary. ...
- Product manager. ...
- Director of finance. ...
- Software developer. ...
- Physician assistant. ...
- Nurse practitioner.
work from home no degree 80k jobs
- Physical Therapist - Full-Time - Float. ...
- Veterinarian ($80K Sign-On Bonus) ...
- Dental Hygienist. ...
- HVAC SERVICE TECHNICIANS. ...
- Licensed Family and Marriage Therapist (LMFT) - Remote. ...
- What are your desired job types? ...
- HVAC Service Technician. ...
- Inside/Virtual Sales Representative.
150k no degree jobs in remote
- Sales Executive. UtiliSave, LLC. ...
- Financial Analyst. NetApp. ...
- AD Sales Operations. ...
- Senior Staff Specimen Acquisition and Inventory Manager. ...
- Paid Search Marketing Manager. ...
- Strengthen your profile. ...
- Technical Product Director (work from home) ...
- Senior Product Manager-Database Migration.
High-paying simple jobs
- Groundskeeper.
- Accounting clerk.
- Librarian.
- Garbage truck driver.
- Massage therapist.
- Claims adjuster.
- Customer service representative.
- Chauffeur.
Some popular college majors in high demand include computer science, nursing, engineering, finance, and data science. These fields offer excellent career prospects and competitive salaries.
What's the quickest degree to get? ›
An accelerated master's degree includes intensive study to finish a graduate-level education in as little as one year. One-year master's degree programs, such as a one-year master of business administration (MBA) degree, are increasingly popular as students look for a fast return on their investment.
What is the lowest paying major? ›
College majors that pay the least right after college
- Liberal Arts $38,000.
- Performing Arts $38,000.
- Theology + Religion $38,000.
- Leisure + Hospitality $39,700.
- General Social Sciences $40,000.
- History $40,000.
- Miscellaneous Biological Science $40,000.
- Fine Arts $40,000.
Five Highest-Paying Bachelor's Degrees
- Petroleum Engineering. The average salary for a petroleum engineer is $131,800. ...
- Aeronautics and Astronautics. ...
- Actuarial Mathematics. ...
- Computer Science. ...
- Business Computing.
If you remain undecided, then consider choosing a general program. Some schools allow for a major in liberal arts or general studies, which includes a deeper dive into numerous subjects. You'll emerge with a four-year degree that can be used for just about anything.
Which degree will pay the highest? ›
The highest-paying degree you can get – according to our graduate data – is one in Dentistry. It's a specialised and vocational subject area, where most graduates find professional work in a dental-related role soon after completing their studies.
Which degree has the lowest starting pay? ›
On average the top earning courses in terms of starting salary were medicine and dentistry; engineering and technology; economics; computer science; and education. The lowest earning courses were psychology; English; design and creative arts; biological sciences; and history and philosophy.
What are the least regretted majors? ›
The top three regret-free majors, all above 70%, are computer and information sciences, criminology, and engineering. Graduates strongly tied their sentiments toward their majors to job prospects, ZipRecruiter found. They're also less likely to regret pursuing quantitative fields.
What is the hardest major to earn? ›
List of the Hardest College Majors
- Astrophysics. ...
- Applied Mathematics. ...
- Interdisciplinary Studies. Average GPA: 3.33. ...
- Genetics and Plant Biology. Average GPA: 3.35. ...
- Marine Science. Average GPA: 3.35. ...
- Cognitive Science. Average GPA: 3.35. ...
- Political Economy. Average GPA: 3.35. ...
- South and Southeast Asian Studies. Average GPA: 3.35.
