How are high earning potential careers impacted by choice of college major?

Hi everyone, I'm currently trying to choose a major and it got me thinking - who typically ends up earning the most after graduating? Is there a strong correlation between certain majors and high potential earnings or does the choice of college play a bigger role? Has anyone got any studies or personal experiences on this?

Hello! It's actually a combination of both the major and the school you attend that can affect your earning potential post-graduation. Remember that the earnings of graduates can widely vary, as different job markets, regions, and companies will have different salary rates.

However, there have been studies that showcase a link between certain majors and high potential earnings. A notable one by the Georgetown University Center on Education and the Workforce suggests that Engineering, Computing & Data Sciences, and Business fields generally lead to higher potential earnings. On average, people who major in petroleum engineering, for example, earn a median annual wage of $129,000, the highest of any major. In contrast, majors like Early Childhood Education or Family & Human Studies are typically associated with lower earnings potential.

As for the role of the college, some research suggests that attending a selective or prestigious university may enhance earning potentials. For instance, student outcomes data from Harvard, one of the most prestigious schools, indicate that the median starting salary of a Harvard graduate is around $70,000, significantly higher than the national average. Furthermore, Ivy leagues and other top schools often have strong alumni networks and close ties with high-paying industries, which can offer students better job opportunities upon graduation.

However, it's essential not to view this as a hard and fast rule. Salary isn't everything, and many people find fulfillment and success in careers that are not necessarily the highest-paying. Even within high-paying fields, there are wide ranges of salaries depending on specific jobs, companies, locations, and other factors. Also, bear in mind that the cost of education and the burden of student loans can have a significant impact on financial well-being, sometimes more so than earning potential.