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11 of the Best Paying College Degrees
By A college degree is essential for many of the high-paying careers in America, and, whether we like it or not, having money is extremely important to living a comfortable life. A nice house, supporting a family, and securing a happy future in retirement all depends on obtaining enough money to do so. Besides, some of the highest paying careers are also the most interesting and innovative jobs around. Without stuff like inventions, astrophysics, and computer science, we wouldn't have many of the convenient amenities we take for granted today. This reason alone supports the huge salaries each of these careers supply their employees. Here are the 11 highest paying college degrees.
Engineering
Be it chemical, mechanical, civil, electrical or environmental, engineers are making big bucks -- in fact, some of the biggest around. In general, engineering involves developing new technologies for various industrial sectors -- basically thinking up new inventions and improvements to the ones already in production. Their ideas help repair, improve and revolutionize the way we do things, from farm work to space travel. Careers in engineering are varied, challenging, and bring in a hefty salary even at the base level. A newly employed engineer can expect to make up to $60,000 a year, with a steady pay increase and good job security.
Economics
Just the word 'Economics' may be reminiscent of the scene in Ferris Bueller where Ben Stein drones on and on in the way only a true economist could. Economics may sound monotonous to some, but ranks a fairly close second to engineering in terms of its profitability. Broken down in simple terms, Economics is the study of the way we produce and circulate goods and services. From Sales Directors, who make an average of $137,000 a year, to a Branch Manager at a bank earning $58,000 per year, most economists can afford to buy a Ferrari and drive it down the road at a whopping 25 miles-an-hour.
Physics
On the moon, it takes the exact same amount of time for a penny to hit the ground as a one hundred dollar bill dropped from the same height. Any physicist will tell you that, and they’ll take a wad of the latter for the trouble, thank you very much. Physics comes in at number three on the list, with an average starting salary of over $50,000. If you’re noticing a mathematical trend amongst the degrees on this list, treat yourself a slice of pi -- because it is so purely mathematic as a science, a physics degree allows its graduates a great range of career choices. Physics teachers may not make as much as astrophysicists, but it proves more rewarding to some. After all, money isn't everything.
Computer Science
Being a member of the IT crowd may not guarantee popularity, but it certainly bodes well for those who desire a swollen back pocket. With our daily lives becoming more and more entwined with computer technology, a degree in computer science is one of the most sure-fire ways of landing a well-paying job in the modern world. A fresh-out-of-the-box IT graduate can expect to earn up to $56,000 for their first job and reach a mid-level salary of $97,000. All that for sitting around playing with computers is a pretty good de—hey, wait a minute! However, it's a bit more complicated than browsing the 'net; those in the IT field can bear a heavy weight if they're responsible for the structure and repair of enormous companies, which is often where the big money lies.
Statistics
Some statistics on statistics: a new stats graduate can earn up to $48,000 a year, and make as much as $95,000 per annum once things get rolling. If your idea of fun is converting information into numbers and vice versa, stats may be the degree for you. Even if you don’t love it but are a math-savvy calculator, a couple of years in this field can afford you a giant pool in the shape of a dollar sign. But that would just be inconvenient, so you'd better just make it a cent sign. There’s no need to brag.
Biochemistry
Take up biochemistry, create a clone of yourself, and send the sucker to do your Biochemistry job while you soak up the sun in Barbados. Your clone will be earning up to $41,000 straight away -- certainly enough for a slew of mimosas and some dive lessons. Eventually, your clone will be earning you around $94,000 a year (and most of that will be profit since you, as an evil scientist, will most likely force them to survive on a diet of Diet Coke and Cup Noodles). Biochemists typically observe the chemical reactions and progressions in living things; hence the breakdown of bio -- biology -- and chem -- chemistry.
Mathematics
If a degree in Mathematics sounds general or nebulous, that’s really only because of its capacity to lead to so many different career paths. Math majors can pursue careers in areas ranging from banking all the way to computer science. Because they’re so good with numbers, short-changing them on their salary is a big no-no -- a math graduate can expect up to $47,000 dollars as their starting salary, a number that will increase exponentially over the years.
Construction Management
Construction Management has to do with coordinating all the details surrounding a construction project; specifically, dealing with time-constraints, quality stands, costs, and meeting clients’ needs and demands. This sounds like quite a bit for one person, and maybe it is, but construction managers make a great salary to compensate them for all their time and effort. The average starting salary for a CM graduate is a girder-bendingly awesome $53,000, and by mid-career this average rises to nearly $90,000.
Information Systems
A degree in Information Systems prepares students for a career working with -- guess what -- information systems! Think of it as kind of Macro IT; dealing with computer networks and their systems on a smaller scale. Payroll, ordering and security are all included in the IS graduate's job to make sure things run smoothly. They're compensated with a starting salary average of $51,000 and a mid-career average salary of $87,000.
Geology
We all know what the Richter scale is, but geologists have been shunning that old-school method of measurement for years. Today, they use the MMS, the Moment Magnitude Scale, to accurately describe tremors and earthquakes. Geology is the general study of earth, its history and composition. The average starting and mid-career salaries for Geologists are $45,000 and $84,000, respectively. Now that rocks!
Accounting
If you get really excited during tax time, definitely consider completing a degree in accounting. Accountants may be in charge of individuals’ finances or those of an entire company. Either way, accountancy is here to stay -- as are everyone's pesky taxes. At a starting salary of $46,000 a year, thinking and talking about money all the time certainly pays off in this profession.
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30 Comments
Author is clearly biased against computer jobs. You pick horrible pictures for computer science and information systems. A nerdy guy on old computers in his basement. Another guy collecting old monitors for what is most likely recycling? Was it that hard to look for pictures from Google's workplace?
Haha, good job putting up fundamental physics equations for the math picture.
hi diego,
geologist earn most when it comes to mining and cleaning up contaminations. One of my friends got this PhD in geology and now runs a company that operates in Germany and Brazil to clean up industrial contaminations. Pretty interesting stuff.
SOME engineers will make 60k starting, but these are few. Rapid erosion of salaries and new job creations has killed the starting salary. A more realistic expectation is 50k. Anything written before 2008 regarding engineering pay, its job outlook, and its job growth should really be taken with a grain of salt
I'm a biochemist and I can tell, you're totally wrong. To start at 40 k, you need to have AT LEAST a masters or a PhD... and the 94 k you're talking about is for a world-wide known scientist, aka a super-PI. There are a few like this.
So do not take that option if you wanna get rich. Play poker instead, the odds are better!
Julie D. is partially right, in that getting a PhD is really necessary in biochem (and most bio-sciences) to really be racking it up while still doing things in that area.
Although she's totally wrong with the figures she quotes - they are based solely on wetbench (lab) jobs and in an academic setting. $40k with a BS is fairly normal in industry, $80k+ with a PhD, and if you completely leave the bench you can easily go over six figures a few years after getting your PhD.
Computer Science is an engineering degree. In fact a lot on this list falls under engineering. If it's covered under IEEE, then it's considered engineering.
This list is poorly researched and is best ignored
There is a vague bit of truth to this article, but not much... Where's the health care industry? How about pharmacy? Pharmacists can get starting salaries from 80-100k.
I must agree with the majority of the comments above, do some research, real research before commenting. It is no wonder no one wanted to put their name on the article. FOCUS EDITORS? Come on now does one consider this good accurate journalism?
I think that michael jordan single handedly put the geology majors into the top ten. he was a geo major at UNC...
Electical Engineer Started work Jan 2007
Year 1 salary 52k +3k
Year 2 salary 62K +3k
Year 3 salary freeze
Year 4 67k
Not sure if 60k starting is realistic now. I was right at 50k starting in 2004. But saying engineers have job security is a bit misleading - just ask automotive guys in Detroit. I was laid off myself from an auto manufacturer a little over a year ago.
@Jo - yeah I would have guessed nursing too
@CS graduate - those pictures are awesome and accurate of CS guys. A picture of Gerard Butler or Brad Pitt but more muscular would have been more appropriate for the engineer pic though.
Computer Science is not IT hate to break it to you.
@Elec Engineer
I went to the U of M. Electrical Engineering math and physics requirements are comparable and both are recognized by ieee.org. Your school probably considers their Computer Science to be more IT based which typically does not have a math requirement.
Food Science! Holy crap do they make money!
CS and engineering can be very different, it depends on the school. Some comp sci places come out of applied math, these are the hard core theory of information types (e.g. waterloo). Other CS schools come out of applied physics or engineering (e.g. Wilfred Laurier, which is a smaller school near waterloo in canada), and are much more focused on building actual software or even hardware. To use this website as an example, the information science is much more about building a properly normalized database, building programming languages and algorithms that are in some way optimal, the latter, is much more about implementing the DB using some SQL, how to decide what the best language to use is, and building algorithms that will work properly, even if not optimally fast.
IT is again separate from that, which is concerned primarily with assembling and maintaining the infrastructure that the DB and Website run on, and connect to the world with.
I have a BSc in physics. No one hires a BSc in physics unless you're teaching, or intending to go on to grad school (and teaching pays terribly). Granted when I graduated in canada we graduated about 140 BSc's in physics in the whole country that year (2002), and of those about 100 when on to MSc/Phd's. I got this information at the time from the canadian association of physics, which, as you might imagine, tracks this sort of thing. The NSF in the US tracks similiar statistics (including the # of PhD's granted, http://www.nsf.gov/statistics/infbrief/nsf10308/). The number of undergrad level positions in physics is very small, as is the number of graduates. For the US I'd guess you're looking around 400. For comp sci or chemistry it's easily 10x that.
I'm now working on a PhD in comp sci, because frankly, comp sci is easier and it pays better. A PhD in physics expects to start around 70k/year (a sort of standard professors salary give or take) whereas a PhD in comp sci is closer to 90k. This is reflected at the undergraduate level as well, where a comp sci student can expect to start 4-5k/year more than a physicist, assuming the physicist can find work at all (and many of them work as junior programmers), whereas comp sci types are beating away job offers on a monthly basis, myself included.
Engineering is definitely not one monolithic business. Chemical engineers make quite a lot more than their more generic electrical or civil counterparts, which is screwing with the average here. Last I checked it was chemical engineers starting around 80k, and everyone else in the 40-50k range.
Accounting salaries I think you've just listed government. Private sector accounting and government accounting pay completely differently for some reason, and are apparently fairly different skillsets.
I like how the math picture is maxwell's equations... much more applicable to engineering or physics. Math courses for me have always been more abstract/general than that.
I just graduated UIUC with a BS in EE, if you know what I mean. I had an offer for a CS job for 57k, but I am going for a phd in EE instead.
And IT != CS.
At my university CS was part of the School of Engineering and had all of the same core requirements as all of the other Engineering degrees as far as the math and science classes went.
CS != IT.
Also CS can pay very well. Make sure you are working some solid internships while in school and you should be able to get a well paying job post-graduation. Several of my friends got hired on at 60k+ straight out of college with a BS CS.
As far as IT paying what he said? Ha ha haha. Sure there are exceptions, but most MIS (the "IT" degree) folks that I know got hired on around 40k.
Looking around it seems the avg entry job lands $20 an hour...that's nearly $39K a year if what i'm seeing is a full time deal. and starting salary $43K.
and sales tax of 8.375% woohoo.
if you work in new york city or los angles for that matter you won't be able to afford in the city (obviously) proper. 2-3 hour commutes aren't uncommon. Brooklyn i think is nearly an hour or so away and the housing cost is roughly halved. i would think LA and NYC would be #'s 5 and 6 if they would be on the list at all after that
http://www.tipsforinvesting.net/highest-paying-careers.html
I am an M.E.
The figures for engineering are close. However, I got an offer way above the 60k mark. I believe that a good gpa and personal interaction skills will allow further gains.
A recent article in yahoo finance "20 worst paying college degrees in 2010" suggested that anyone considering working with children to stay clear of it.
http://www.examiner.com/child-care-in-st-louis/childcare-the-worst-paying-col...
@Pk, I'm assuming that the health care industry jobs, such as pharmacists, were not included because most of those jobs require graduate degrees where this article mainly focuses on undergraduate.
computer science or accounting degree best to get a lot money
**Have a job now though
CS != engineering At least in the programs I've seen. CS majors dont have to take all the upper level Math and hard core Physics that Engineering majors do.
1988 == 27K
2010 == 175K
Kind of totally forgot health care didnt we?
MD starting salary $130-$300,000 depending on specility
Physician assistant starting $75,000
Nurse Practitioner starting $65,000
geology...really?! I knew a couple of people that majored in Geology and they're all working at National Parks. Not a high paying gig
Wow, I thought for sure Nursing would be on there.
Lou
www.privacy-tools.be.tc
I got a BS in Computer Science but I could only find a software development job that pays $30k per year. :(
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