Students who major in liberal arts, performing arts, and theology earn the lowest annual median salary ($38,000) five years after graduating college, according to a new study by the New York Federal Reserve.
The study looked at median annual income for 75 different majors right after college and mi-career. Other low-paying majors included leisure and hospitality, history, fine arts and psychology, all of which made $40,000 or less per year.
LEAST PAYING MAJORS RIGHT AFTER COLLEGE
Liberal arts majors earned the least five years after graduation. Engineers, on the other hand, earned the highest median income out of college, with computer engineers ranked first at $80,000 per year. By the time they’ve reached the ages of 35 to 45, engineers pay grows to $133,000—the highest of all majors.
“With liberal arts degrees, graduates tend to get paid less overall, for various reasons,” Mike Winters, a money reporter at CNBC, says. “For one, their skills may not be directly related to generating revenue, even if their vocation is a benefit to society. Or, it can be a case of too few well-paying jobs compared with the number of graduates each year, as is the case for fine arts degrees. As such, the lack of demand can drive down wages.”
College majors that pay the least right after college
(Median salary within five years of graduation)
- Liberal Arts $38,000
- Performing Arts $38,000
- Theology + Religion $38,000
- Leisure + Hospitality $39,700
- General Social Sciences $40,000
- History $40,000
- Miscellaneous Biological Science $40,000
- Fine Arts $40,000
- Treatment Therapy $40,000
- Nutrition Sciences $40,000
College majors that pay the least for mid-career workers
(Median salary for graduates who are 35-45 years old)
- Early Childhood Education $48,000
- General Education $52,000
- Elementary Education $52,000
- Secondary Education $55,000
- Miscellaneous Education $56,000
- Social Services $56,000
- Theology + Religion $56,000
- Special Education $57,000
- Family + Consumer Sciences $59,000
- Performing Arts $64,000
How do business majors fare? As a whole, business-related majores either earned as much or more than the average pay starting out (with Communications being the exception). That trend continues into mid-career, again with the exception of Communication and the addition of Business Analytics.
Sources: CNBC, New York Federal Reserve
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FAQs
College Majors That Produce The Lowest Earnings After Graduation. Students who major in liberal arts, performing arts, and theology earn the lowest annual median salary ($38,000) five years after graduating college, according to a new study by the New York Federal Reserve.
What college major makes the least money? ›
Early childhood education majors in the middle of their careers earn the least out of all majors. With a median annual income of $48,000, they only make $8,000 more than they do right after graduation.
What majors tend to get paid the most after graduating? ›
Top 20 College majors with the highest salaries
- Chemical Engineering. Engineering degrees are a common theme on this list. ...
- Computer Engineering. ...
- Aerospace Engineering. ...
- Electrical Engineering. ...
- Computer Science. ...
- Mechanical Engineering. ...
- Civil Engineering. ...
- Industrial Engineering.
Ranked: U.S. Majors with the Highest Unemployment Rates
| Rank | U.S. Major | Underemployment Rate |
|---|
| 1 | 🎨 Art History | 62.3% |
| 2 | 📘 Liberal Arts | 56.7% |
| 3 | 🖌️ Fine Arts | 55.5% |
| 4 | 🚀 Aerospace Engineering | 17.9% |
7 more rowsMar 30, 2024
The median ROI for bachelor's programs is $160,000, but four-year college degrees in engineering, computer science, nursing and economics are the most lucrative, with payoffs of $500,000 or more.
What majors do people regret the least? ›
Top 10 Most Regret-Free College Majors
- Computer & Information Sciences (72%)
- Criminology (72%)
- Engineering (71%)
- Nursing (69%)
- Health (67%)
- Business Administration & Management (66%)
- Finance (66%)
- Psychology (65%)
What is the happiest major? According to a 2022 ZipRecruiter survey, people were happiest with their college major if they had majored in computer and information sciences, criminology, engineering, nursing, health, business administration, finance, or psychology.
What college degree is most employable? ›
Some popular college majors in high demand include computer science, nursing, engineering, finance, and data science. These fields offer excellent career prospects and competitive salaries. Computer science majors can find jobs in software development, cybersecurity, and IT consulting.
What five majors have the lowest unemployment rate? ›
College majors with the lowest unemployment rates
- Construction services (1.4%)
- General education (1.8%)
- Elementary education (1.8%)
- Nutrition sciences (1.8%)
- Architecture (2.1%)
- Business analytics (2.2%)
- Agriculture (2.4%)
- Secondary education (2.6%)
Employment Rates
They crunched the data to reveal the employment rate and the graduate salary associated with it. Interestingly the degrees that will give you the best chance of being employed quickly are medicine and dentistry, education and veterinary science.
Below, we've written out a list of the top 10 majors that are currently in high demand.
- Business. ...
- Healthcare Administration. ...
- Mathematics and Statistics. ...
- Nursing. ...
- Medical Assisting. ...
- Information Technology. ...
- Computer Science. ...
- Hospitality.
You can study Engineering, Economics/Finance, Politics, Mathematics, Computer Science, Law, or MBA to enhance your financial strength, as these are some of the highest-paying degrees in the world.
What is the most successful college major? ›
A recent study published in the American Educational Research Journal found that engineering and computer science majors provide the highest returns in lifetime earnings, followed by business, health, and math and science majors.
What are the lowest value degrees? ›
The degrees that are the worst value for money in 2023
| University course | Average salary, 5 years after graduation |
|---|
| Criminology | £24,637 |
| Fine Art | £25,015 |
| Public Administration | £25,640 |
| Music | £25,667 |
6 more rowsMay 29, 2024
Here are the highest paying jobs without a college degree:
Flight Attendant. Sales Representative. Sound Engineering Technician. Structural Iron and Steelworker.
What is the easiest major to make the most money? ›
Top 15 Quick Degrees That Pay Well
- Business Administration. A bachelor of business administration is one of the most popular undergraduate degrees. ...
- Communications. ...
- Criminal Justice. ...
- English. ...
- Finance. ...
- Healthcare Administration. ...
- History. ...
- Human Resources.
Top 4 Cheapest Degrees To Go to College For
- Associate Degree in Health-related Fields. ...
- Bachelor's Degree in Education. ...
- Associate Degree in Information Technology (IT) ...
- Bachelor's Degree in Business Administration. ...
- Online and Hybrid Learning Formats. ...
- Scholarships, Grants, and Financial Aid.
