Straight out of college, many fields lead to high-paying careers.
The economic ramifications of picking a major have a greater influence on the future because the average cost of a college education is increasing every year. Even though it’s not the sole consideration in your program selection, getting a decent financial return on your education investment should be taken into consideration.
How can students determine which college majors will result in the highest salaries once they graduate? Using information from Payscale’s College Salary Report, which annually assesses the early career earnings including those who have just started in their areas, we created a list of the bachelor’s degrees that lead to the highest starting salaries. The range of experience among those polled was 0 to five years. Salary information was provided in the 2021–2022 report for a total of 827 distinct majors.
The top 10 starting salaries for workers with a bachelor’s degree are listed below.
KEY LESSONS
Understanding which college majors result in the highest salaries after graduation will put you on the right track for a prosperous career.
STEM-related professions, such as electrical engineering and computer science, petroleum engineering, and computer science and business professionals, make up the majority of the top 10 list of highest starting wages.
The highest beginning earnings are found in electrical engineering and computer science.
Studying for a career as a physician assistant comes in second.
Engineers in welding complete the list.
1. Engineering in Electrical and Computer Science
Businesses and other organizations require qualified people who can assist in maintaining and enhancing their electrical equipment and computer systems as they become increasingly reliant on technology to bring efficiencies.
According to Payscale, which ranked first, the average beginning income for graduates entering the market with degrees in these professions was $108,500. With mid-career incomes as high as $159,300, earning the third spot, there is also substantial room for advancement.
The U.S. reports electrical engineers and computer scientists separately. Occupational Labor Statistics (BLS). The average yearly wage for the first category was $101,780 in 2021, compared to $131,490.34 for computer scientists.
2. studies for physician assistants
Physician assistants collaborate in medical teams with doctors, surgeons, and other healthcare professionals. You might anticipate working in a variety of places, such as clinics, hospitals, and medical offices. To start working, you will require a license issued by your state.
The average beginning wage given by Payscale was $95,900, good for the second spot. The field falls to number 76 on the list, however, as mid-career earnings are only $118,500.2 The BLS reported that the median annual wage for physician assistants was $121,530 in 2021.
These experts should experience above-average job growth compared to other workers. With 12,700 new positions likely to be created annually, the field is predicted to grow by 28% between 2021 and 2031 (the average growth rate for all occupations is only 5%).
3. Energy Engineering
When it comes to initial pay, engineering degrees of all stripes top the list. Work is done by petroleum engineers in the oil and gas sector. These experts conduct research, develop, and construct various methods for obtaining fossil fuels from the planet.
Earning up to $93,200 after receiving a bachelor’s degree in this field would put you in third place. Fortunately, this increases to an average of $187,300 mid-career, placing petroleum engineers in the lead by almost $17,000.
The BLS reports that the median annual pay for a petroleum engineer was $130,850 in 2021. Between 2021 and 2031, there should be an increase in employment of around 1,700 jobs each year, or 8%.
4. Engineering and Industrial Operations Research
This major merges two fields of study. Operations research students must be interested in business, analysis, statistics, and computer programming in addition to having strong math and computing skills. Industrial engineers improve the efficiency and effectiveness of processes to help them function more smoothly and safely.
Early incomes for this field were $84,800, placing it in fourth place according to Payscale. Yet it drops to second place since you could make $170,400 by the time you reach mid-career.
These two categories are reported individually by the BLS. Industrial engineers made an average yearly salary of $95,300 in 2021 compared to operations research analysts’ $82,360. Job growth for the former is predicted to be 23% from 2021 to 2031, or about 10,300 openings annually. Job growth for the latter is predicted to be just 10%, but that translates to 22,400 openings per year.
5. Operations Analysis
A second time—this time as its own major—operations researchers appear on Payscale’s list of the top paying starting salaries. Most colleges’ engineering departments regularly offer degrees in operations research.2
Early salaries for operations researchers were reported by Payscale to be $83,500, ranking fifth on the list. Mid-career incomes increase to $147,400, pushing the profession down to sixth position and dropping it one spot.2
A bachelor’s degree in the correct major can lead to a high-paying career right away, even if certain disciplines require postgraduate degrees.
6. Technology Nuclear Engineering
The creation of the tools and procedures necessary for nuclear energy is under the purview of experts in this subject. Teams of nuclear engineers may deal with both new and old systems. Others are engaged in the decommissioning of outdated systems. Processes, reactors, health and safety, and quality control are among the areas of expertise in this industry.
With an entry-level pay of $83,500, nuclear engineers rank sixth in terms of starting salaries. Nevertheless, according to Payscale2, they suddenly fall to 158th position at this point in their careers, earning just $106,000.
According to the BLS, the median annual compensation for nuclear engineers was $120,380 in 2021. However, just 700 jobs are anticipated to spring up per year throughout that ten-year period, resulting in an 11% employment drop in the field between 2021 and 2031.
7. Engineering in Metallurgy
Almost anything you can think of may be made out of metal, including microchips, automobiles, medical equipment, and household items. Metallurgical engineers research the safe conversion of metals for human use.
The typical starting salary for someone joining the metallurgical engineering sector is $81,800 annually. In the course of your career, your compensation may rise to $122,200, dropping you from seventh to 58th on the list.
According to the BLS’s Occupational Outlook Handbook, these engineers are classified as materials engineers. Materials engineers made an average of $98,300 in 2021, the government claims. Between 2021 and 2031, 1,700 new positions in this category are anticipated to be added year, representing a 6% rate of job growth.
8. Information technology and business
This may be the field for you if you’re seeking for a job that lets you apply your passion for computer technology in a professional context. For those who desire to work in the IT industry, a combined degree in computer science and business is available. It gives professionals a background in both technology and business. The focus of the curriculum is on business and computer science.
The average beginning pay for graduates in business and computer science ranks ninth, at $81,100, in the College Salary Report. The mid-career wage for this occupation, however, doesn’t show much development, falling to 279th place at $94,600.2
The BLS classifies jobs in this industry as computer and information research scientists. In 2021, these professions made an average salary of $131,490. By 2031, the industry is anticipated to expand by 21%, with up to 3,300 new employment created per year.
9. Modern Electronic Systems
Electronic systems technicians work with circuit boards, robots, computers, and medical equipment. These people create and design this kind of technology, and their abilities are in high demand.22
With an average beginning income of $81,000, the degree has a strong start in tenth place. Unfortunately, individuals who are in the middle of their careers may only hope to make an average of $91,200, falling all the way to number 331 on the list.
These individuals are categorized as electrical and electronic engineering technologists and technicians by the BLS. These people make an average yearly salary of $63,640. Between 2021 and 2031, job growth is expected to stagnate at 0%.
10. Engineering Welding
Welding engineers receive training in a number of scientific fields, including welding, metallurgy, and materials science. They are essential to the construction of vehicles, buildings, and other constructions requiring welding.
With an average beginning pay of $81,000, these professionals are in tenth position overall. By the halfway point of their careers, they may earn $126,600, which would place them in the 37th position.
According to the BLS Occupational Outlook Handbook, welding engineers fall under the category of welders, cutters, solderers, and brazers. In 2021, the average yearly pay for this group was $47,010. Between 2021 and 2031, there should be an average of 47,600 new employment added annually, most of which will be replacement positions for those who retire or change careers.
What degree from a college pays the most over time?
Petroleum engineering has the best mid-career pay for college degrees. Industrial engineering and operations research are ranked second, and computer science and electrical engineering are ranked third.
What Degree Produces Millionaires the Most?
Once more, engineering is the college major that produces the most millionaires. There are many different kinds of engineering, and the field is in high demand, particularly as new technologies are developed, and businesses require engineers to both solve problems and create new products.
How Much Education Do Most CEOs Have?
A CEO is responsible for managing a company’s overall operations, therefore due to the managerial demands of the position, a CEO would often hold a degree in business administration, economics, or management, or potentially another relevant discipline.
the conclusion
After graduation, many students pursue a master’s or another advanced degree. But, with the correct bachelor’s degree, you can earn quite a decent salary, starting to pay off your student loans while weighing the benefits of continuing your education. Engineering degrees are among the most promising possibilities for an extremely high starting pay.
Starting pay isn’t everything, though, as many degrees with high starting wages fall far down the list for mid-career salaries. If a high wage is a deciding factor in your educational and career choices, there are also certain majors you should steer clear of. Particularly, individuals who decide to pursue careers in education, social service, or the arts are more likely to earn less money. Nonetheless, deciding on a college degree and a career path are personal decisions that each person should choose for themselves.