Your college major has a big impact on your income. Below are the highest and lowest profitable measures.
Earning a college degree is a financial commitment that has a significant impact on your future income. A new study finds that a student’s major and alma mater can make a big difference to her average salary over the four years after graduation.
College majors that lead to high-paying jobs tend to be concentrated in so-called STEM fields—science, technology, engineering, and math, according to one study. New analysis From HEA Group. HEA was founded by Michael Itzkowitz, former Director of College Scorecards for the Department of Education, and provides data on college costs and other topics.
High-paying majors aren’t the most popular fields for students, according to Itzkovitz’s research. These fall under the fields of Business Administration, Nursing, and Psychology, and graduates can earn substantial earnings of approximately $58,000, $77,000, and $43,000 respectively in the four years after college. Even the much maligned English degree attracts more students than computer science, yet graduates in this field earn more than double the $42,000 annual salary typical of Shakespeare enthusiasts. was found in the analysis.
A STEM degree “is not the most important thing people want to get into higher education,” Itzkowitz told CBS MoneyWatch.
This may be because pursuing the highest paying major may not be perceived as a path to fulfillment for students, or simply because many students pursue computer science or engineering in college. It suggests that you do not have the technical skills of But with tuition far outstripping inflation and college costs rising, students are under increasing pressure to choose majors that will help them pay off their loans and gain a foothold into the middle class.
“Since the number one reason students attend college is to improve their employment prospects, it is important that most college students earn as much or more than the typical high school graduate in their state,” he said. Itzkowitz said.
Earning a college degree A sure way to get a good job By age 30, according to a recent analysis from the Center for Education and Workforce at Georgetown University. A good job, as defined in the study, is one that pays an average of $57,000 a year by age 30.
Four years after graduation, most graduates are earning middle-class salaries, according to HEA Group. About two-thirds of college programs produce graduates who earn at least $40,000 four years after completing their degree. But about 3% of college program graduates earn less than $20,000 a year, which could lead to financial hardship, Itzkowitz said.
While people without a college degree can earn a steady salary and even earn more than those with a bachelor’s degree, Americans with college degrees and those without There is a large wealth and income gap among Americans on average. new research from Third Way.
A study by The Third Way found that the typical college graduate between the ages of 25 and 64 earns $127,000 a year, compared to $61,000 for a person without a degree. . And college graduates, on average, have four times more wealth than workers without a bachelor’s degree, the report said.
“College is worth it,” Itzkovitz said. “Most companies deliver on their promises, but some do not.”
The college majors that make the most money
The highest-paying college majors are concentrated in STEM fields, but there are also some niche fields such as shipbuilding and marine engineering, with graduates in these fields earning an average of $109,121 four years after graduation. is a dollar. The fourth-placed ocean freight business typically brings in $103,626 in revenue four years after he gets the parchment.
The study “provides a great starting point for students and families considering post-secondary school decisions,” Itzkowitz said. “If you know the majors and colleges they are considering applying to, it gives you information on how much they can earn within a few years of graduation.”
Research suggests that students who pursue high-paying majors at top universities earn even more. For example, computer science majors who attend Harvard University (ranked 3rd by US News and World Report) (the 3rd highest-income sector) earn the highest salaries among college graduates, averaging Earns an annual income of $265,529. .
This may explain why so many high school students seek admission to Ivy League colleges or equivalents such as Stanford or Massachusetts Institute of Technology. However, very few people get into these schools. 0.4% of students According to U.S. News and World Report, he attended Ivy League colleges such as Harvard and Yale.
“These are outliers, top schools,” Itzkowitz said. “It’s other schools that serve more people.”
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The challenge of a mother and daughter graduating from college together aims to inspire others to return to school
The challenge of a mother and daughter graduating from college together aims to inspire others to return to school
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Earning a college degree is a financial commitment that has a significant impact on your future income. A new study finds that a student’s major and alma mater can make a big difference to her average salary over the four years after graduation.
College majors that lead to high-paying jobs tend to be concentrated in so-called STEM fields—science, technology, engineering, and math, according to one study. New analysis From HEA Group. HEA was founded by Michael Itzkowitz, former Director of College Scorecards for the Department of Education, and provides data on college costs and other topics. High-paying majors aren’t the most popular fields for students, according to Itzkovitz’s research. These fall under the fields of Business Administration, Nursing, and Psychology, and graduates can earn substantial earnings of approximately $58,000, $77,000, and $43,000 respectively in the four years after college. Even the much maligned English degree attracts more students than computer science, yet graduates in this field earn more than double the $42,000 annual salary typical of Shakespeare enthusiasts. was found in the analysis.A STEM degree “is not the most important thing people want to get into higher education,” Itzkowitz told CBS MoneyWatch.
This may be because pursuing the highest paying major may not be perceived as a path to fulfillment for students, or simply because many students pursue computer science or engineering in college. It suggests that you do not have the technical skills of But with tuition far outstripping inflation and college costs rising, students are under increasing pressure to choose majors that will help them pay off their loans and gain a foothold into the middle class.”Since the number one reason students attend college is to improve their employment prospects, it is important that most college students earn as much or more than the typical high school graduate in their state,” he said. Itzkowitz said.Earning a college degree A sure way to get a good job By age 30, according to a recent analysis from the Center for Education and Workforce at Georgetown University. A good job, as defined in the study, is one that pays an average of $57,000 a year by age 30.
Four years after graduation, most graduates are earning middle-class salaries, according to HEA Group. About two-thirds of college programs produce graduates who earn at least $40,000 four years after completing their degree. But about 3% of college program graduates earn less than $20,000 a year, which could lead to financial hardship, Itzkowitz said.While people without a college degree can earn a steady salary and even earn more than those with a bachelor’s degree, Americans with college degrees and those without There is a large wealth and income gap among Americans on average. new research from Third Way. A study by The Third Way found that the typical college graduate between the ages of 25 and 64 earns $127,000 a year, compared to $61,000 for a person without a degree. . And college graduates, on average, have four times more wealth than workers without a bachelor’s degree, the report said.”College is worth it,” Itzkovitz said. “Most companies deliver on their promises, but some do not.”
The college majors that make the most moneyThe highest-paying college majors are concentrated in STEM fields, but there are also some niche fields such as shipbuilding and marine engineering, with graduates in these fields earning an average of $109,121 four years after graduation. is a dollar. The fourth-placed ocean freight business typically brings in $103,626 in revenue four years after he gets the parchment.The study “provides a great starting point for students and families considering post-secondary school decisions,” Itzkowitz said. “If you know the majors and colleges they are considering applying to, it gives you information on how much they can earn within a few years of graduation.”Research suggests that students who pursue high-paying majors at top universities earn even more. For example, computer science majors who attend Harvard University (ranked 3rd by US News and World Report) (the 3rd highest-income sector) earn the highest salaries among college graduates, averaging Earns an annual income of $265,529. . This may explain why so many high school students seek admission to Ivy League colleges or equivalents such as Stanford or Massachusetts Institute of Technology. However, very few people get into these schools. 0.4% of students According to U.S. News and World Report, he attended Ivy League colleges such as Harvard and Yale.”These are outliers, top schools,” Itzkowitz said. “It’s other schools that serve more people.”
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https://www.cbsnews.com/news/college-major-impact-on-income-top-and-lowest-earning-majors/ Your college major has a big impact on your income. Below are the highest and lowest profitable measures.