College majors that make the most money
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College majors that make the most money
Students smiling at each other while building a robot in a college science class
With student loan debt and the economic aftermath of the COVID-19 pandemic weighing on their minds, prospective college students may want to dig into the data on which majors pay the most after graduation. The U.S. News and World Report, for example, said that “all 10 of the college majors with the highest starting salaries based on PayScale data are in STEM fields, with computer engineering and computer science the top-paid.” Stacker‘s top 25 highest-paying college majors also include social science and medical majors, such as political economy, pharmacy, and econometrics.
While the highest-paid college majors are in those science, technology, engineering, and math subject areas, there’s disagreement among college and workforce professionals if there’s a workforce shortage of STEM careers.
For instance, Dr. Ron Hira, a Howard University scholar of offshoring and job development, looked at Bureau of Labor Statistics data to determine that the “U.S. is producing far more [STEM] graduates than the incremental number of jobs being predicted.” Hira also mentioned wage stagnation as evidence there’s no workforce shortage of STEM careers.
On the other hand, the Chamber of Commerce Foundation in 2022 wrote that “[t]here are currently more than 16 million skilled technical jobs requiring an associate degree or similar level qualification, and the number of jobs requiring substantial STEM expertise has grown nearly 34% over the past decade.”
Stacker used PayScale’s 2021-22 College Salary Report to rank the 25 majors that lead to the highest-paying jobs. Rankings are based on the median mid-career salary for those who earned bachelor’s degrees in each major, or the salary that is expected after 10 years of continuous employment within the field. Ties are broken based on median early career salaries, pay within the first five years of employment.
Salary calculations are adjusted for inflation and do not include equity or stock compensation, retirement plans, and noncash benefits such as health care. Payscale’s College Salary Report is a compensation survey based on the responses of 3.5 million college graduates. Check out the survey’s full methodology here, and continue reading to learn if your major is among the highest-paying.
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#25. Computer science and engineering
Students taking a computer science test in a classroom.
– Mid-career pay: $131,300
– Early career pay: $79,400
– Percent of alumni who say their work makes the world a better place: 44%
Computer science and engineering is a hybrid major that gives students the flexibility to work as either a hardware or software specialist. This also allows them to explore areas that require an understanding of both fields, such as working with supercomputers, high-performance computing, parallel processing, and embedded systems.
This major encourages understanding computers as a whole machine rather than just component parts or distinct functions. Students in this major have worked to develop smartphones and smart devices, supercomputers and artificial intelligence systems, virtual- and augmented-reality platforms, and graphics-rendering software.
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#24. Marine engineering
A man in an orange jumpsuit working in a control room on a ship.
– Mid-career pay: $131,300
– Early career pay: $79,900
– Percent of alumni who say their work makes the world a better place: 60%
Marine engineers apply engineering principles, such as computer science and electrical engineering, toward the design and operation of marine propulsion and onboard systems. This includes maritime power systems, control systems, and navigational frameworks for both surface ships and submarines. Pollution control and anti-fouling methods are important components of marine engineering.
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#23. Electrical and computer engineering
An electrical engineer inspecting a switchgear cabinet.
– Mid-career pay: $131,600
– Early career pay: $78,100
– Percent of alumni who say their work makes the world a better place: 49%
Another hybrid major, electrical and computer engineering looks at computer theory from the electronics point of view. The major evaluates the role electronic components serve in computer design and how improvement in component efficiency can improve processing efficiency. An electrical and computer engineer can find work in robotics, motor construction, computer component construction, motherboard design, biomedical engineering, and systems control.
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#22. Computer systems engineering
Two people working together on computer software.
– Mid-career pay: $133,200
– Early career pay: $79,000
– Percent of alumni who say their work makes the world a better place: 51%
Designing, testing, and assessing software and computer technology to create a secure and stable system for clients are all components of computer systems engineering, according to Zippia. This job requires analytical, communication, and problem-solving skills.
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#21. Political economy
Men and women having a discussion in a conference room.
– Mid-career pay: $133,500
– Early career pay: $65,100
– Percent of alumni who say their work makes the world a better place: 29%
Political economists, a branch of political science, study government policies that have an economic effect on society. Most jobs require a master’s degree in public policy, political science, or public administration, for example, for entry-level roles.
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#20. Actuarial science
Two men in gray suits talking in a lobby.
– Mid-career pay: $134,400
– Early career pay: $67,700
– Percent of alumni who say their work makes the world a better place: 43%
Actuarial science deals with the study of risk. Actuaries use statistics to determine the risk in insurance pools, financial markets, and other fields to weigh the premiums, determine eligibility requirements for insurance products, and estimate projected mortality in a particular population. Actuarial science majors have found work with insurance companies, in government service, and in finance and banking.
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#19. Cognitive science
A person taking a cognitive function test.
– Mid-career pay: $135,200
– Early career pay: $68,700
– Percent of alumni who say their work makes the world a better place: 42%
Cognitive science is the “interdisciplinary scientific investigation of the mind and intelligence.” Students should expect to take classes in several disciplines, such as biology, psychology, computer science, neuroscience, and linguistics.
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#17. Building science
A man working with an architectural model.
– Mid-career pay: $135,900
– Early career pay: $53,800
– Percent of alumni who say their work makes the world a better place: 53%
Building science studies the phenomena that affect buildings, including physical forces, occupants’ behavior, and efficiency. Building science looks at how strong a building is, the conditions inside the building, and the comfort and aesthetics of a building to make better, more livable edifices. Building science majors can find work as inspectors, architects, designers, builders, building material engineers, and surveyors.
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#17. Chemical engineering
A woman working with a green chemical in a lab.
– Mid-career pay: $135,900
– Early career pay: $76,900
– Percent of alumni who say their work makes the world a better place: 55%
Chemical engineering focuses on the experimentation, design, fabrication, and mass production of chemical compounds. This can range from biochemical fabrication, such as pharmaceuticals and fertilizers, to household chemicals, fuel refinements, and explosives. This conversion of matter can be highly dangerous at times. Chemical engineers work not only in fabrication and design but in environmental response, safety consulting, and disaster response.
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#16. Aerospace studies
Two aerospace engineers work on a prototype in a lab.
– Mid-career pay: $136,600
– Early career pay: $55,800
– Percent of alumni who say their work makes the world a better place: Not available
Designing, developing, and testing aircraft, spacecraft, satellites, and missiles all comprise the obligations of aerospace engineers, according to the Bureau of Labor Statistics. The bureau expects job numbers to increase by 6% from 2021 to 2031.
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#15. Pharmacy
A woman pharmacist reaching for a medication on a shelf.
– Mid-career pay: $138,700
– Early career pay: $68,600
– Percent of alumni who say their work makes the world a better place: 78%
Entry-level pharmacy jobs require a doctoral degree (Pharm.D.) and passing a state exam, according to the Bureau of Labor Statistics. Many jobs include working at a pharmacy or researching medical issues around how the human body reacts to medicine.
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#14. Econometrics
A woman running statistical software on a laptop.
– Mid-career pay: $139,000
– Early career pay: $64,200
– Percent of alumni who say their work makes the world a better place: 35%
Econometrics involves using “statistical and mathematical models to develop theories or test existing hypotheses in economics and to forecast future trends from historical data,” according to Investopedia. Skills include running statistical software and examining multiple scenarios against real data and projections.
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#13. Systems engineering
A man working on multiple computer screens in a server room.
– Mid-career pay: $139,200
– Early career pay: $77,700
– Percent of alumni who say their work makes the world a better place: 53%
Systems engineering specifically focuses on how systems work and change during their life spans, from design to decommissioning. This can include logistics management, risk management, team coordination, testing and evaluation, and cost and time management. Systems engineering majors have worked in civil engineering, software engineering, cybernetics, organizational management, and system control engineering.
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#12. Aeronautics and astronautics
Astronauts training in a simulator.
– Mid-career pay: $139,600
– Early career pay: $77,600
– Percent of alumni who say their work makes the world a better place: 56%
Aeronautics and astronautics focus on building, designing, and maintaining flight-worthy vehicles that can travel in or through the atmosphere. The Bureau of Labor Statistics expects job numbers to increase by 6% from 2021 to 2031.
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#11. Information and computer science
A man developing on his computer with two screens.
– Mid-career pay: $140,900
– Early career pay: $58,600
– Percent of alumni who say their work makes the world a better place: 62%
Information and computer science professionals design, build, maintain, and improve computer-based systems. Skills include high-level math; knowing how computers store, manage, and display information; and “design principles that optimize how the software, hardware and user interact,” according to U.S. News and World Report. Jobs that require a bachelor’s degree include web developers, digital designers, information security analysts, and computer programmers, for example.
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#10. Electrical power engineering
A man in an orange hard hat doing maintenance on a power plant.
– Mid-career pay: $142,600
– Early career pay: $76,100
– Percent of alumni who say their work makes the world a better place: 68%
Electrical power engineering is a subset of electrical engineering dealing specifically with the generation, transmission, distribution, and use of electricity. This field is explicit about its focus on high-voltage applications, so electrical power engineers are likely to find jobs in fields that deal with high voltage, such as subway line maintenance, power plant operation and design, high-voltage line repair and maintenance, and electrical phase converter assembly.
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#9. Actuarial mathematics
A woman writing formulas on a chalk board.
– Mid-career pay: $143,400
– Early career pay: $64,300
– Percent of alumni who say their work makes the world a better place: 51%
Another hybrid major, actuarial mathematics looks at how actuarial risk is determined, using mathematical models. As actuarial science is a subset of mathematics, actuarial mathematicians specifically evaluate the mathematical theory behind risk calculation. These people can find work in insurance firms, banks, and financial institutions.
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#8. Business computing
A man working on a laptop in a server room.
– Mid-career pay: $143,600
– Early career pay: $73,000
– Percent of alumni who say their work makes the world a better place: Not available
“Business computing refers to the IT technologies that power an organization’s enterprise, planning, customer management and storage systems, to name a few,” according to IBM’s research website. Skills include Python programming, computer science, and database management.
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#7. Applied economics and management
Two men at a desk with papers and a tablet analyzing data.
– Mid-career pay: $146,400
– Early career pay: $66,100
– Percent of alumni who say their work makes the world a better place: 67%
Applied economists use data, logic, and economic principles to guide executives through sets of options for business decisions. Future economists should be skilled at economic concepts, research, data collection and analysis, writing and editing, teamwork, and paying attention to detail.
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#6. Operations research
A woman making an explanation of papers to men at the table.
– Mid-career pay: $147,400
– Early career pay: $83,500
– Percent of alumni who say their work makes the world a better place: 54%
Operations researchers apply advanced statistical, mathematical, and technological methods to optimize business processes. Often, they conduct experiments using versions of the scientific method and then evaluate the results. The Bureau of Labor Statistics expects jobs to increase by 23% from 2021 to 2031, according to the BLS.
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#5. Public accounting
A group having lunch at a table while discussing business papers.
– Mid-career pay: $147,700
– Early career pay: $59,800
– Percent of alumni who say their work makes the world a better place: 47%
Public accounting is the auditing and financial record accounting of a business, individual, nonprofit, or government by an outside party. This is done under a specific set of rules and laws. Public accounting is essential to ensure the financial health of the country’s public institutions and private businesses. Jobs in this field include tax consulting, certified public accounting, auditing, financial forensics, fraud investigations, and financial management.
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#4. Interaction design
A man working with photo editing software on a computer.
– Mid-career pay: $155,800
– Early career pay: $68,300
– Percent of alumni who say their work makes the world a better place: 55%
Interaction design is the “design of the interaction between users and products,” according to the Interaction Design Foundation. This includes software, apps, and websites, but can also involve physical objects. Most employers seek candidates with formal training and a bachelor’s degree; skills include HTML, CSS, and animation and photo editing software packages.
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#3. Electrical engineering and computer science
A person wearing gloves testing an electrical installation.
– Mid-career pay: $159,300
– Early career pay: $108,500
– Percent of alumni who say their work makes the world a better place: 46%
Electrical engineers need to understand how electricity works, how electronic components function, and no small amount of math and materials science as well. They design, build, and test electrical equipment, components, and systems.
Computer scientists study computers and the systems and networks they use and participate in. These two fields complement each other and often overlap when dealing with specific functions and efficiency efforts. The Bureau of Labor Statistics says prospective computer scientists usually need a master’s degree for entry-level work.
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#2. Operations research and industrial engineering
A group of people at a desk looking at papers and a laptop.
– Mid-career pay: $170,400
– Early career pay: $84,800
– Percent of alumni who say their work makes the world a better place: 28%
Operations research and industrial engineering looks at how organizations can address both their performance objectives and resource limits to create the most beneficial policies. Similar to business efficiency, this field looks at how decisions are made to judge if the process is efficient and to find ways to make it more so. Jobs in this field include project managers and efficiency specialists.
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#1. Petroleum engineering
Two men in blue jumpsuits and helmets having a discussion at a petroleum plant.
– Mid-career pay: $187,300
– Early career pay: $93,200
– Percent of alumni who say their work makes the world a better place: 67%
The world runs on oil. A petroleum engineer looks at methods to improve the discovery, extraction, transportation, and refinement of petroleum. Jobs in this field include oilfield management, pipeline construction, oil refining, and environmental response.
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