Want to start earning a high income the day you graduate? These degrees may be able to help you do that!
Some students choose their college major based on a creative passion, such as art, music, writing, or design.
Some students choose their major because they already know exactly the career they want to go into, such as medicine or teaching.
Some students wait until they have a year or two of college under their belt and choose a major based on something they’ve taken a new interest in.
There is no right or wrong way to choose a major. In fact, the major you choose doesn’t even have to dictate the career you go into.
But for some students, choosing a college major comes down to one very simple thing:
Money.
College is expensive, so landing a high-paying job after graduation is key, especially if you have student loans to pay back.
If you’re looking for a major where you can earn a better-than-average salary as soon as you graduate, keep reading here are the seven college majors with the highest starting salaries.
1. Engineering
If we were to break this list down by occupation, engineering majors would take nearly every spot on this list.
Because engineering is relevant to almost every growing industry, engineering majors stand to earn the most money when they start working a full-time job.
From the oil and gas industry to the electronics and tech industries, engineers are highly in demand.
And companies are more than willing to pay engineering grads for their skills.
Graduates with a degree in petroleum engineering take the top spot, earning an average of $87,989 per year to start.
Here’s how the median average salaries for other engineering grads compare:
- Chemical engineering: $75,301
- Computer engineering: $75,022
- Electrical engineering: $72,540
- Aerospace engineering: $71,350
- Materials engineering: $70,958
- Industrial engineering: $68,682
- Mechanical engineering: $68,621
- Biomedical engineering: $67,800
The Bureau of Labor Statistics estimates that almost all engineering jobs will experience growth over the next ten years. Industrial engineering is at the top of that list, with an expected growth rate of 14% through 2030.
2. Computer Programming
There’s a lot of money to be made in writing code for software systems, websites, and apps.
Want to work as a web developer and create your own app?
Want to program new software solutions for Fortune 500 companies?
These are just two of the many ways you can put a computer programming degree to work.
And because computer programmers continue to be in high demand, they continue to be paid well for their skills.
Graduates with computer programming degrees earn more than most, with an average starting salary of $86,098 per year.
3. Computer Science
Computer science doesn’t necessarily involve programming. If you hold a computer science degree, you’ll focus more on the theory of how computers work.
You can work as an analyst in almost any industry, focusing on finding solutions to improve existing computer systems or build new ones.
A computer science degree can put $85,766 in your pocket in your first year of work, and your salary will continue to grow from there.
4. Statistics
For people who love the black-and-white science of numbers, a degree in statistics can open up a wide range of career paths in different industries.
You can find work as a risk analyst for an insurance company, as a data analyst or research analyst in healthcare or government, or even as a sports statistician for the NFL or MLB.
Statisticians analyze facts and figures, which is something that all industries do. According to the Bureau of Labor Statistics, the demand for statisticians is expected to grow 33% between now and 2030. This is well above the average projected job outlook for other careers.
College grads with statistics degrees can expect to earn $75,916 as a starting salary.
5. Physics
A lot of people assume that having a physics degree means you have to do research in a lab or work in an academic setting. That is not the case.
College grads with physics degrees can work in a wide variety of organizations, including tech companies and engineering firms.
Physicists are great at applying math to real-world situations and problems, which makes working in the financial industry an option, as well.
College grads with degrees in physics can expect to start earning $67,541 upon graduation. Engineering aside, physics majors earn more to start than any other science field.
6. Applied Mathematics
College grads with degrees in applied mathematics often work as actuaries. They can also become data analysts, operations research analysts, and financial analysts.
So whether you have an interest in the world of stocks and bonds, supply chain logistics, or AI, this degree can help you secure a high-paying position in a wide range of industries.
The median starting salary for grads with an applied mathematics degree is $67,112.
7. Business
Business majors have a lot of specific disciplines to choose from. Here are some of the top-earning business degrees and how much you can expect to earn per year at the start of your career:
Business analytics: $57,000
Economics: $55,000
Finance: $52,000
Accounting: $50,000
While a business degree won’t earn you the highest salary right out of college, it could put you on a path to become a CEO.
CEOs, which exist in every industry, are some of the highest-paid professionals, earning an average of $193,850 each year.
And the cost of a business degree is far less than the cost of college and medical school combined.
Conclusion
In the U.S., physicians take the top spot as the highest earners, with anesthesiologists earning an average of $261,730 per year.
But you can’t become a physician with a college degree alone.
Because physicians must go to medical school and train for years in residency, most don’t even start working until they’re in their early 30s. And many college grads simply aren’t willing to wait that long to make the big bucks.
If you want to start making some serious money while you’re in your early 20s, the seven college majors on this list will help you reach your goal!
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Adam Marshall is a freelance writer who specializes in all things apartment organization, real estate, and college advice. He currently works with The Reserve at Orono to help them with their online marketing.
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