8 Highest Paying College Majors

College is an exciting time to learn about your talents and how you can convert them into real-world skills. Students can optimize their learning through courses, class electives, and extracurricular activities. While these activities can help you identify what you’re passionate about, you might also wonder if they have the potential for a significant earning power after college. In this article, our education nonprofit shares the 8 highest paying college degrees, and tells you about the ways you can combine what you’re passionate about with what can increase your starting salary.

8 College Degrees with the Highest Earning Potential

According to 2022 New York Fed Statistics, the degrees with the highest median wages across newly employed graduates are:

• Computer Engineering, $74,000
• Computer Science, $70,000
• Aerospace Engineering, $70,000
• Chemical Engineering, $70,000
• Electrical Engineering, $70,000
• Industrial Engineering, $69,000
• Mechanical Engineering, $68,000
• Miscellaneous Engineering, $65,000

These figures take into account an entry-level income. While the salaries can increase over time, you might also factor in the location and demand for your position. For example, while you might find that metropolitan areas generally have higher pay rates than rural areas, the competition may be much stiffer. If there aren’t enough opportunities for yourself and the other candidates in the market, it may be a challenge to find work if you don’t have prior experience. This is why getting into a top college and maintaining a high GPA can offer you invaluable benefits in the long run.

How to Choose a College Major

Choosing a college major that’s right for you takes careful consideration. It may vary based on your interests, future goals, and the speed at which you’d like to start in a professional field. For example, if you’d like a high earning potential, you might opt for a degree in a legal or medical profession. However, you’ll likely need more than four years of higher education. Next, you’ll want to consider what you’re passionate about. Your first job will likely be a role you’ll grow into and hopefully stay in for a long time. Pick an occupation that will not only offer you a comfortable salary, but one you can feel proud about.

Questions to Ask Yourself When Choosing a Major

Keep in mind that if you don’t enjoy your job, even a high earning potential will not fully satisfy you. Finding the right balance between passion and practicality is a task many of us are faced with at an early age, sometimes even when we’re still figuring ourselves out. These are some questions you can start thinking about that may help you decide what you want to major in:

• What are you good at?
• What do you like to do?
• What are your aspirations for your future self?
• What’s most important to you? Money, happiness, flexibility?
• Is there something you’re passionate about outside of work or school? Climate change, volunteering, art, creative writing, etc.?
• If so, what are some ways you could create opportunities within that passion (for example, start a nonprofit organization or design a new sustainable technology)?

Consider Unemployment Rates

In addition to the highest paid careers, you may also take unemployment rates in each field into consideration. Some positions may be easier to come by, have a high volume of open positions, or have a year-round hiring season.

Occupations and fields with the lowest unemployment rates include:

• Medical Technicians
• Early Childhood Education
• General Education
• Public Policy and Law
• Elementary Education
• Civil Engineering

Key Takeaways for Students Choosing a Major

When considering your future college major, think about the different aspects listed in this article. Remember that the ultimate reason for obtaining a degree is to further develop skills and make yourself an asset in a professional field. Going to college is usually expensive, so finding a degree that you love and will provide you a comfortable financial future is essential. The key is to find harmony between these three points:

• Your passion
• Your skills
• Your goals

Considering the professions with lower unemployment rates and higher starting salaries can also give you more insight into the job market. As a student, make sure you start planning early and think about the ways your skills and passions can equate to high earnings in the future.

*Listed based on current records in the United States. Salaries are a median estimate based on recent data and are not guaranteed salaries.