On the whole the average starting salary for college graduates by major is a good indicator of how that major will play out later in life. Almost all of us hope to find more than just an entry level position. Few of us aspire to work at Walmart for the rest of our lives.
Graduating from college is a huge accomplishment for most of us, which makes it an opportune time to consider your future. The field in which you choose to study can make a big difference in your life and career. In this post, we’ll look at the top 10 majors based on average starting salary and how the job market might be changing in the next several years.
Average starting salary for college graduates by major
While many associate a high starting salary with traditionally sought after majors, like engineering, software development and computer science, the data suggests that these options might not be as lucrative as they seem. In fact, graduates with degrees in education, psychology and social work have the highest starting salaries. In general, fields that are typically associated with less well-paying careers do pay relatively well. Students who earn degrees in early childhood education or criminal justice often enter the workforce earning around $40,000 annually.
The Bureau of Labor Statistics provides starting salary information in their Occupational Outlook Handbook for over one hundred professions. I would start by honing in on the jobs that you are interested in and researching them individually to determine if you need a college degree relative to the position.
As you can see from the table, Business majors are among the highest earners. Courses on finance, accounting and economics can be valuable investment for all students, no matter their major.
The graphic design industry has been steadily growing at a rate of 2.9% annually over the past 10 years, which is slightly above average. For those who want to break into this field, it may be prudent to skip out on more specialized fields (e.g. travel and tourism) and focus on majoring in graphic design, mathematics or related subjects for the highest starting pay.
Looking at the numbers above, it’s plain to see that getting a degree can be very valuable in today’s marketplace. As you can tell, certain majors are more lucrative than others, and one could argue that certain degrees can even be life-changing. Job security is another major factor in choosing a career path along with income potential. If you go into a profession that pays well but is short on job security and your project takes a nosedive, you may find yourself out of luck when it comes time to look for another job. At the end of the day, it all comes down to your own personal needs and goals.
