10 most profitable college majors and highest paying ...

10 most profitable college majors and highest paying college degrees

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Sat. June 5, 2010 10 most profitable college majors and highest paying college degrees

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Jennifer B. Larson

May 10th 2010 at 8:00AM

Filed under: Money College

194 Jennifer Larson uncovers the

tweets most and least profitable college majors, and the

retweet highest and lowest paying college degrees, in this two

part series for Money College. Part Two runs next week, with the least profitable careers for your academic investment.

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Unless you qualify for a full-ride scholarship or have incredibly-generous parents, you are likely spending a boatload on college. But as your high school teachers and college professors like to say, that's money you are going to get back if you choose your career wisely. Your education is an investment. So, like any investment, you should do your research if you want to cash in.

Here's Money College's list of the highest and lowest-paying college degrees, based on data gathered by . If you love numbers and science, you're in luck: "The kinds of majors where you learn to integrate mathematics and science with the everyday world have a tremendous benefit in terms of earnings potential," 's Al Lee said.

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Ten most profitable majors that turn into the highest paying college degrees:

1. Engineering. This includes (in order of highest first year salaries) aerospace engineering, chemical engineering, computer engineering, electrical engineering, mechanical engineering, industrial engineering, environmental engineering, and civil engineering. Instead of making a list where seven of the 10 highest paying careers are in engineering, they are rolled into one mention. My cousin is an engineer at SEMCO. We graduated from college the same year and the first year on our own, he bought a $20,000 used Cadillac while I was scraping paychecks together to buy a bike. Average first year salary: $59,000. Average mid-career salary: $101,000.

2. Economics. A pretty ubiquitous myth is that economics is all statistics and math. The fact is, while economics majors do a lot of statistics and math, they also study a wide range of topics, including social science, psychology, political science and history. Alan Metzer, even said: "economics is a social science." There are plenty of

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humanitarian efforts you can make in this line of work, as economists are needed to create public policy -- domestically and internationally. Average first year salary: $50,200. Average mid-career salary: $101,000.

3. Physics. Physics is a good springboard major into a broad range of science, engineering, and education careers. With a BS in physics, students can pursue careers as a high school science teachers, laboratory technicians, computer programmers and meteorologists, to name a few. Here is a nifty chart illustrating careers in physics. Average starting salary: $51,100. Average mid-career salary: $98,800.

4. Computer Science. I'm always jealous of IT people. Mostly because I wish I had their knowledge about computer systems, but also because they also seem to play video games when they are short on work. Majoring in computer science will allow you to navigate through the algorithmic processes that create, describe and transform information -- and that makes you an asset to any company. Other than going into Information Technology, there are plenty of career options for computer science majors, such as software designers, start-up company partners and freelance computer programmers. Average starting salary: $56,400. Average mid-career salary: $97,400.

5. Statistics. Do you like crunching numbers and analyzing data? As a statistics major, you observe patterns and useful information for everything from business applications to political strategies. Often statisticians collect and interpret data for marketing purposes. Average career salary: $48,600. Average mid-career salary: $94,500.

6. Biochemistry. Graduates with this major can find work as lab technicians, analytical chemists, and researcher assistants. This major also opens the door to advanced or medical degrees. Average starting salary: $41,700. Average mid-career salary: $94, 200.

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7. Mathematics. The one thing most of the items on this list have in common is a strong emphasis on math. Our lives are organized by mathematical principles, so it only makes sense that this would be the case. Majoring in math leads to a wide range of fields, such as banking and finance, computing services, insurance, industry, or education. Average career salary: $47,000. Average mid-career salary: $93, 600.

8. Construction Management. If you have a knack for planning and organizing projects from beginning to end, then this might be the right career path for you. A construction manager's job is to oversee a construction project from its planning to the ribbon cutting ceremony. Some of the top schools for this major include Lawrence Technological University, University of Denver, and Southern Polytechnic University. Average starting salary: $53,400. Average mid-career salary: $89,600.

9. Information Systems. For students who feel a strong connection with both business practices and the world of computer science, this major may resonate strongly. Every business uses information systems to keep track of their products and payroll. Whether you major in management information systems or computing and information systems, the path ahead will be profitable. Average starting salary: $51,400. Average mid-career salary: $87,000.

10. Geology. I was thrilled and actually a little surprised to see that majoring in geology leads to one of the most profitable career paths. That knowledge of physical and chemical processes of the earth's atmospheric, oceanic and land systems, lends itself to making both money and sound environmental choices. Average starting salary: $45,000. Average mid-career salary: $84,200.

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Tags: biochemistrymajor, computersciencemajor, constructionmanagement, economicsmajor, engineeringmajor, geologymajor, informationsystems, mathematicsmajor, Money College, , physicsmajor, profitablemajors, statisticsmajor

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[6/5/2010 1:04:37 PM]

10 most profitable college majors and highest paying college degrees

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Reader Comments (Page 1 of 6)

1 5-10-2010 @ 11:02AM Nelba said... Important to notice that the list of jobs for physics majors does not include physicist. So if you are not going to become a physicist why major in this field? Reply

2 5-10-2010 @ 11:13AM SP said...

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Important to note, yes, but not for the reason you think. You need to look at a degree in any major field of study (including physics) as an enabler to other things. If your career was just doing the same thing that you did in school... that would be a fairly dull career, I would think. I was a dual major (chemistry & physics)... and am thankful for the fundamental understanding that my physics background has given me. Now working in materials science & engineering, and earning more than the average midcareer value listed for engineers above.

Main message in this list.. math and science are key!

3 5-10-2010 @ 4:59PM Rick C. said...

As SP just mentioned, a degree in physics not only an enabler but the backbone of most engineering degrees. I went applied physics and am now a laser engineer. The stated salary figures are accurate, minus the yearly bonus.

@ Bob, blame the hordes of MBA types for their scorched Earth outsourcing policies. These are the people that are inadvertently destroying this country's future technical prowess in exchange for short term profits.

4 5-14-2010 @ 12:44AM Askel said...

Physics is the building block for all other sciences. A basic knowledge of physics can lead to career in everything from music technology to working for NASA. Physics is one of the very few degrees that you apply to just about anything you want it to.

5

5-15-2010 @ 10:06AM

ooo ooo said...

because you need more than a degree in physics to become a physicist, you have to go on to get a PhD..

6 5-15-2010 @ 4:15PM thehiddeneye said... The AIP statistics are propaganda. They don't include the unemployment statistics, is the reason. I have a B.S. in physics and I've been unemployed for 17 months, with no hope in sight of getting any job that you couldn't do with just an HS diploma.

7 5-12-2010 @ 12:45PM hshah said... What about Biomedical Engineering? It is not mentioned as part of profitable engineering major. Is it a profitable major? Reply

5-15-2010 @ 11:59PM

[6/5/2010 1:04:37 PM]

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10 most profitable college majors and highest paying college degrees

8 Larry said...

Biomedical engineering would be a variant of chemical engineering (testing) or electro-mechanical engineering (protheses).

Ah, if only I was a mercenary SOB, I would have gotten my BA from JHU. I was a biochem major though since JHU didn't grant such I was classified as a Natural Sciences Area major. Actually I majored in the 3 Ps: poker, pinball, and pool with minors in bridge and hearts.

9 5-10-2010 @ 10:59AM Jo Anne Barnes said... Dear Ms. Larson: As a BA in English, during my 30-year career, I went from teaching high school English to becoming a stockbroker, investment advisor, and ultimately an investment manager (mid-career salary, $100,000), who earned $140,000 a year in the 5 years before I retired. My experience proved to my satisfaction that my liberal arts education and English major gave me the best preparation possible to be able to switch career directions as my changing circumstances required. Even more critical was the training in critical thinking and effective writing which enabled me to excel as an investment professional. I was surprised that your review of the 10 highest-earning college majors didn't include any liberal arts or "soft-skills" majors such as English. The ability to communicate is a skill whose value tops every other in my experience. Reply

10 5-11-2010 @ 2:00PM k said... English major? The haven of the unteachable.

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11 5-11-2010 @ 7:05PM Craig said...

So because yourself and maybe 15% of the population got a liberal arts degree and made good money doesn't mean they all did. A large population that got those degrees ended up getting crappy jobs (low pay) starting and mid career because they weren't needed as badly as others. Most of those listed above have a easy time getting the stated salaries. I just got a job in one of those 10 fields at almost that exact starting salary during the worst recession in some odd years. I know 10's of liberal art students who have been looking for 6-10 months. My point is that most people know soft sciences aren't as high paying on average.

12 5-15-2010 @ 9:51PM Chichay said...

Jo Anne,

You're not really saying that your English major qualified you as an investment advisor/investment manager, are you? As a generality, "critical thinking" and the humanities, while not mutually exclusive, are usually not synonymous with one another. Your experience is the exception rather than the rule.

[6/5/2010 1:04:37 PM]

10 most profitable college majors and highest paying college degrees

13 5-10-2010 @ 11:17AM Thisiswhyubroke! said... Really? Geology? You learn something new every day lol

"Because ridicule is the most effective form of education"

Reply

14 5-10-2010 @ 12:12PM Martyn said... Thisiswhyubroke! - Geologists are probably on this list because of the oil & gas industry. The industry uses geologists to find the valuable stuff under the ground by interpreting seismic data, mapping formations, etc. Considering how expensive it is to drill wells (especially offshore), good geologists or geophysicists can make a lot of money nowadays.

15 5-17-2010 @ 8:27AM Sheldon Cooper said... "....I have no respect for the field."

16 5-10-2010 @ 11:56AM Nelba said... About good English skills being important: very, very true. However, all Accountants, Engineers, Chemists, etc. take many required & elective English courses. They also exercise these skills & thought processes in writing for History, Psych & other courses. It is often the Arts and Humanitites majors who take NO college level math or science. They may take recycled high school math in college but do not take college level math, which begins with calculus. This quantitative cluelessness may account for the absence of Art & Humanities majors in the higher paying categories. Some A & H majors do indeed pursue a broad education, but many do not. Just my 2 cents. Reply

17 5-12-2010 @ 10:25AM Richard Bartholomew said... As I recall, the university had to strong-arm the College of Engineering into allowing its students to take a bare minimum of liberal arts courses. We were grudgingly handed a short list of courses which passed as "electives".

We were not allowed to take courses in which you learned how to "do something", like communicate in a foreign language or play an instrument. Courses like symbolic logic were out, because they were too much like mathematics.

The head of the EE department finally let me use three of my twelve German credits as my single "free elective". Today, I work as a technical translator in Germany. Thanks a lot Prof.

18 5-14-2010 @ 3:21PM kris said...

[6/5/2010 1:04:37 PM]

10 most profitable college majors and highest paying college degrees

Not ALL colleges require anything beyond a basic English writing course in college. My two good friends attended a private engineering college, and they were both able to avoid all English literature classes and only took one composition course. It was difficult for them when they began their graduate studies since they were expected to reflect on their research through writing!

19 5-10-2010 @ 12:19PM Bob said...

I have to laugh when I read this article... Really? Engineering is at the TOP!?!? Let's ask all the unemployed in this field how they are doing. I received my B.S. in Mechanical Engineering over 20 years ago from a school that is ranked in the top 100 Engineering colleges in the country. I specialized in material fatigue (basically doing the calcuations that the FEA programs do for us today). Where did it get me?? I average about three years at a company before I get laid off, I have no retirement to speak of, no bank account to fall back on, no security or stability in my line of work, and right now I'm temporarily employed as a backup checker. Maybe you should take a look at this article as it more closely reflects what I, and others in the engineering field, are actually experiencing.



Have a great day!

Reply

20 5-10-2010 @ 1:01PM sam said...

I think ranking engineering in the top was the right thing because as an engineer who graduated from a bottom 100 school, I hit six figures and continue to do so for the past 15 years. It all depends on how good of an engineer you are and how much you put to use your problem solving techniques to work for you in the job you are assigned. If you sit there waiting for job to come to you in the field you trained, you may sit there for many more years and continue to get laid off even when you find one, because that's how good you are...be flexible and creative ...an engineer is an engineer regardless of which discipline you pursued...it's all about problem solving and breaking down complex process into simple ones.

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