Getting a college degree is an expensive investment, regardless of the program, you choose to enroll. While there might be a slight variation in the tuition fee being charged by different programs, the post-graduation pay-off is considerably higher for some majors compared to others.
For example, majoring in electrical engineering means that you would likely be commanding a salary in the $73K range, which is the median for this college major. In the long run, this median salary goes up all the way to $99K, a figure that has been reported by the Bureau of Labor Statistics.
However, just like any other profession, electrical engineering is not for everyone, and career counselors recommend that you should choose this major only if you are truly passionate and have the aptitude for it, because if you are not great at it, chances are that you would find it difficult to secure a job in the market.
Keep in mind that about 3% of all electrical engineers who have recently graduated are still without a job, and you can very well become a part of that pool.
The Majors That Pay
Another, very lucrative major that you can choose to pursue at college is in the field of computer and information systems. This one has a few very clear career paths to offer, such as software development or cybersecurity.
Although graduates of this major have not been able to command salaries as high as electrical engineers, it’s still an impressive $65K in the median range, as per the figures provided by the National Center for Education Statistics.
That’s not all. The market for these majors is growing as well, by as much as 32% between the years 2018-2020.
Also, growth prospects are phenomenal, with information security analysts commanding a median salary of a massive $98K. As for experienced software engineers, median salaries have crossed the $100K range.
What About The Business Majors?
Apart from the engineering majors, there are a few majors being offered by business schools which are commanding a very high salary structure in the job market. For example, those who have majored in the field of accounting are charging a median of around $58K in the job market, with finance majors charging a bit more at around $64K.
Growth opportunities with both of these majors are massive, with finance professionals commanding around $89K on a yearly basis, and seasoned accountants charging around $70K.
Many business graduates are attracted towards the marketing majors, and while there is a lot of room for creativity in this field, as far as compensation goes it is not as lucrative as the other business majors mentioned above.
A recent graduate that has majored in the field of marketing would be able to command around $50K, which is the current median salary being offered to new graduates of this field of study. But then, this compensation eventually grows and can go as high as $133K for those working as marketing managers, or in the field of advertising.