It's expensive to attend college — around $145,000 for four years at a public institution, based on data from The College Board, including tuition and living costs but excluding extras.
When browsing a clothing store, we often assess the longevity of an item before making a purchase. Will it withstand multiple washes? Is it durable enough for regular use? This same thoughtful approach should apply to selecting a college major.
Your choice of major can heavily influence your future earnings. While following your passion for subjects like Shakespeare or sociology is valid, understanding the potential salary beforehand is a smart strategy.
Some majors can lead to impressive starting salaries exceeding $130,000! Research reveals the most rewarding bachelor's degrees. So, in my best announcer voice, let's explore the top five:
- Petroleum Engineering
- Pharmacy/Pharmaceutical Sciences
- Geological/Geophysical Engineering
- Mining and Mineral Engineering
- Naval Architecture and Marine Engineering
What's the deal with Petroleum Engineering?
Absolutely! Petroleum engineers typically work in offices or at drill sites, focusing on methods to extract oil and gas from beneath the Earth's surface. The average annual salary for this role was $132,000 in 2017, which is quite impressive.
Let's talk about Pharmaceutical Sciences.
Of course! This field encompasses jobs related to pharmacists. Those in pharmaceutical sciences can anticipate an average salary of around $115,000.
What about Geophysical Engineering?
Great question! Geophysical engineers apply geological principles to solve engineering challenges. A common task involves assessing construction sites from a geological perspective, with an average salary of roughly $99,000.
And how does Mineral Engineering fit in?
Exactly! Mineral engineers specialize in methods to extract minerals from the Earth, earning about $104,000 annually. They rank fourth due to a slightly higher unemployment rate compared to geophysical engineers — 2.7% versus 1% — which remains low.
Now, tell me about Naval Architecture.
So much engineering!
Indeed, the common thread is that these majors emphasize math and science. Traditionally, these fields have been male-dominated, but there are efforts to change this trend. Colleges like the Flatiron School in New York are working to promote diversity in these areas. Check out the Women Take Tech initiative for more information.
What if none of these majors appeal to me?
Here's the silver lining: your choice of major isn't the sole determinant of financial success. Knowing that you might be aiming for a journalism salary instead of a STEM-related one is crucial when considering college costs.
I, too, didn't choose a typically lucrative major, and 15 years post-graduation, I'm doing just fine — both financially and in other aspects. Landing a good job is vital, but making wise financial choices, like saving and investing for retirement, is equally important.
