ROI and your degree

Going to college for most is large financial commitment, according to an article written by Mealanie Hanson for the Education Data Initiative, the average student loan debts for students are as follows:

The average undergraduate student loan debt balance is $37,337
The average debt among master’s degree holders is $83,651
The average debt among PhD holders is $125,276


Below is a list put together by Methodology, of the top majors ranked on average starting salary, with 1 being the highest and 163 being the lowest:

  1. Petroleum Engineering: $107,954
  2. Naval Architecture and Marine Engineering: $91,562
  3. Nuclear Engineering: $86,112
  4. Computer Engineering: $79,540
  5. Chemical Engineering: $78,322
  6. Computer Science: $77,223
  7. Actuarial Science: $76,528
  8. Electrical Engineering: $75,120
  9. Mechanical Engineering: $73,133
  10. Applied Mathematics: $72,565
  11. Aerospace Engineering: $72,070
  12. Industrial and Manufacturing Engineering: $71,593
  13. Materials Science: $71,467
  14. Economics: $70,590
  15. General Engineering: $69,172
  16. Finance: $68,916
  17. Statistics and Decision Science: $68,213
  18. Materials Engineering and Materials Science: $68,206
  19. Biological Engineering: $67,843
  20. Miscellaneous Engineering: $67,815
  21. Business Economics: $67,790
  22. Biomedical Engineering: $67,239
  23. Management Information Systems and Statistics: $67,232
  24. Construction Services: $67,183
  25. Civil Engineering: $66,658
  26. Architectural Engineering: $64,345
  27. Operations Logistics and E-Commerce: $63,712
  28. Engineering and Industrial Management: $63,266
  29. Public Policy: $63,145
  30. Information Sciences: $63,024
  31. Electrical Engineering Technology: $62,647
  32. Miscellaneous Engineering Technologies: $62,470
  33. Engineering Mechanics Physics and Science: $62,311
  34. Environmental Engineering: $61,170
  35. Mechanical Engineering Related Technologies: $60,869
  36. Mathematics: $60,704
  37. Computer and Information Systems: $60,101
  38. Nursing: $59,569
  39. Accounting: $59,014
  40. Computer Administration Management and Security: $58,943
  41. Physics: $58,623
  42. Nuclear, Industrial Radiology, And Biological Technologies: $58,345
  43. Transportation Sciences and Technologies: $58,018
  44. Industrial Production Technologies: $57,144
  45. General Business: $56,918
  46. Computer Programming and Data Processing: $56,578
  47. Engineering Technologies: $56,556
  48. Miscellaneous Business and Medical Administration: $56,070
  49. Miscellaneous Social Sciences: $55,710
  50. International Business: $55,273
  51. Marketing and Marketing Research: $54,908
  52. Agricultural Economics: $54,696
  53. Food Science: $54,117
  54. International Relations: $53,927
  55. Business Management and Administration: $53,422
  56. Medical Technologies Technicians: $52,910
  57. Computer Networking and Telecommunications: $52,425
  58. Agriculture Production and Management: $52,130
  59. Political Science and Government: $52,064
  60. Pharmacy Pharmaceutical Sciences and Administration: $51,934
  61. Architecture: $51,911
  62. Medical Assisting Services: $51,722
  63. Advertising and Public Relations: $51,656
  64. Electrical, Mechanical, And Precision Technologies and Production: $51,241
  65. Interdisciplinary Social Sciences: $51,171
  66. Cognitive Science and Biopsychology: $50,571
  67. Human Resources and Personnel Management: $50,302
  68. Astronomy and Astrophysics: $49,648
  69. Industrial and Organizational Psychology: $49,521
  70. Multi-Disciplinary or General Science: $48,838
  71. Chemistry: $48,692
  72. Atmospheric Sciences and Meteorology: $48,626
  73. General Agriculture: $48,568
  74. Miscellaneous Agriculture: $48,483
  75. Communications: $48,087
  76. Pre-Law and Legal Studies: $47,899
  77. Neuroscience: $47,815
  78. Biochemical Sciences: $47,542
  79. Molecular Biology: $47,107
  80. Genetics: $46,795
  81. Geosciences: $46,614
  82. Physical Sciences: $46,421
  83. Microbiology: $46,397
  84. Plant Science and Agronomy: $46,311
  85. Health and Medical Administrative Services: $46,230
  86. Journalism: $46,015
  87. Miscellaneous Education: $45,945
  88. Geography: $45,833
  89. Criminal Justice and Fire Protection: $45,819
  90. Geology and Earth Science: $45,792
  91. Hospitality Management: $45,709
  92. Intercultural and International Studies: $45,357
  93. French German Latin And Other Common Foreign Language Studies: $45,323
  94. Health and Medical Preparatory Programs: $45,317
  95. Soil Science: $45,304
  96. Public Administration: $45,296
  97. Commercial Art and Graphic Design: $45,273
  98. Miscellaneous Biology: $45,251
  99. Other Foreign Languages: $45,028
  100. Criminology: $44,971
  101. Oceanography: $44,952
  102. History: $44,736
  103. Interdisciplinary Social Sciences: $44,639
  104. Philosophy and Religious Studies: $44,629
  105. Forestry: $44,339
  106. Clinical Psychology: $44,336
  107. Sociology: $44,075
  108. Communication Technologies: $43,883
  109. United States History: $43,674
  110. Mass Media: $43,455
  111. Physiology: $43,441
  112. Botany: $43,437
  113. Miscellaneous Fine Arts: $43,407
  114. Area Ethnic and Civilization Studies: $43,295
  115. Treatment Therapy Professions: $43,289
  116. Environmental Science: $43,187
  117. Art History and Criticism: $43,098
  118. Nutrition Sciences: $42,845
  119. Biology: $42,325
  120. Natural Resources Management: $42,053
  121. Liberal Arts: $41,843
  122. Mathematics Teacher Education: $41,767
  123. General Education: $41,528
  124. General Social Sciences: $41,303
  125. Physical Fitness Parks Recreation and Leisure: $41,228
  126. Community and Public Health: $41,224
  127. English Language and Literature: $41,149
  128. Miscellaneous Health Medical Professions: $40,971
  129. Multi/Interdisciplinary Studies: $40,918
  130. Psychology: $40,807
  131. Film Video and Photographic Arts: $40,764
  132. General Medical and Health Services: $40,623
  133. Special Needs Education: $40,464
  134. Physical and Health Education Teaching: $40,178
  135. Secondary Teacher Education: $40,048
  136. Animal Sciences: $40,040
  137. Science and Computer Teacher Education: $39,647
  138. Fine Arts: $39,404
  139. Language and Drama Education: $39,336
  140. Art and Music Education: $38,858
  141. Teacher Education: Multiple Levels: $38,834
  142. Social Science or History Teacher Education: $38,775
  143. Cosmetology Services and Culinary Arts: $38,654
  144. Linguistics and Comparative Language and Literature: $38,558
  145. Miscellaneous Psychology: $38,273
  146. Family and Consumer Sciences: $38,102
  147. Humanities: $38,006
  148. Educational Psychology: $37,543
  149. Human Services and Community Organization: $37,533
  150. Elementary Education: $37,509
  151. Composition and Rhetoric: $37,287
  152. Anthropology and Archeology: $37,187
  153. Music: $37,092
  154. Communication Disorders Sciences and Services: $37,088
  155. Ecology: $36,862
  156. Social Work: $36,751
  157. Counseling Psychology: $36,672
  158. Theology and Religious Vocations: $36,515
  159. Zoology: $36,325
  160. Early Childhood Education: $36,233
  161. Studio Arts: $35,812
  162. Visual and Performing Arts: $35,787
  163. Drama and Theater Arts: $35,477

With all this information, and starting salaries, we can see how important it is to pick the right degree. Choosing the wrong education can have a negative financial impact on you, holding you accountable to pay student loans well beyond the typical 10-year period. However, choosing a degree with a higher paying average salary can set you up for financial success and freedom in the near future after graduation. With that, this list is not to deter you away from your dream job or major that you enjoy, but to give you a better perspective and understanding of the expected finances one will have when starting their dream job, so they can continue striving for financial freedom.

What is your major, and why? What do you plan on doing upon completion of your education, and why?

5 Replies to “ROI and your degree”

  1. Absolutely agree with the points made here. It’s crucial to balance passion and practicality when choosing a degree. While it’s essential to pursue what you love, being informed about the financial implications is equally important.

  2. In your opinion, how significant is the correlation between a chosen major and future financial prospects, and how does it influence your decision-making process regarding your education and career goals?

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