List of the Most Lucrative College Majors

December 28, 2022
By AdmissionSight

List of the Most Lucrative College Majors

List of the most lucrative college majors

Is there a list of the most lucrative college majors? When selecting a college major, it’s important to assess your interests, skills, and future job opportunities in relation to each. While each college major has a distinct allure, they also each have a different earning potential. In this blog, we look at the top ten majors in terms of earnings.

1. Business

Median annual base salary: $47,850

Microeconomics and macroeconomics, fundamental finance, marketing, and business ethics are all topics covered in depth for business majors. Depending on their major, students may also study things like international trade, tariffs, taxes, and project management.

2. Economics

The median base wage for economists is $52,000 annually.

Students majoring in economics examine how resources, wealth, production, and incentives influence behavior. It’s conceivable that studying applied math and communication will be combined with economics.

View of a woman talking to two people on a table.

According to BLS, careers in economics will expand substantially faster than average over the ensuing ten years, which makes it one of the most lucrative college majors. Many economics majors work as analysts for banks, insurance companies, and other financial institutions.

3. Accounting

The median annual salary in accounting is $52,000.

Accounting students study how to evaluate a person’s or organization’s financial situation. Accounting majors are knowledgeable about a range of software and hardware used to manage data such as rates of appreciation and depreciation and tax regulations.

4. Biomedical engineering

The median base pay for biomedical engineers is $52,814 annually.

Majors in biomedical engineering address the human body as a systematized whole. These majors gain knowledge about creating and maintaining artificial organs and limbs as well as offering technical support for high-tech medical equipment by approaching the human body from an engineering perspective.

5. Statistics or Mathematics

Annual median base salary: $54,018 to $60,000

Math majors explore a broad range of subjects, including the theoretical and practical applications of mathematical models. Math majors get in-depth knowledge of probability, geometry, calculus, and algebra. Given the variety of fields in which mathematics is used, there are numerous career choices open to students who choose this degree, which makes it one of the most lucrative college majors.

6. Finance

The median basic salary in finance is $54,900 annually.

A female economist presenting in front of two male businessmen

Finance majors concentrate on enhancing organizational effectiveness and maximizing profitability. Additionally, they pick up a wide understanding of economics, accounting fundamentals, and how to evaluate long-term investment and budgeting plans.

7. Nursing

The median basic wage is $58,928, which makes it one of the best college majors for money.

Under the typical supervision of a doctor, nursing majors study how to provide care for individuals who are recuperating from disease or injuries. Majors in nursing research human biology, anatomy, and disease. Nursing majors also take chemistry, physiology, and nutrition courses.

8. Information technology

$64,008 is the median basic wage annually.

Students majoring in information technology complete prerequisite courses in math, business, and communications. Technical communication, both written and verbal, is frequently emphasized. Information technology majors occasionally have the choice to focus on a particular subfield, including web development and design or digital communication.

9. Engineering

The median yearly pay for engineers is between $64,381 and $68,438.

Despite the fact that engineering has a wide range of expertise, engineers in general employ predictive models to identify issues and provide solutions. Electrical, mechanical, chemical, and industrial engineering all have average starting salaries that are in the range given above.

10. Computer science

The median base wage for computer science is $70,000 annually.

View of a computer science student using a laptop.

Students who major in computer science learn about many subjects that are both, directly and indirectly, related to using technology. Most computer science degrees require students to develop websites, write programs, and organize data. Most students start off with a background in arithmetic and then learn to alter and apply multiple programming languages.

Least lucrative college majors

In this portion, after enumerating the most lucrative college majors, the least lucrative college majors are listed by AdmissionSight. Check them out below:

1. Tourism and hospitality

Average annual salary: $24,470

Students who major in hospitality and tourism are prepared for management positions in hotels, restaurants, and resorts. The following categories apply to this industry:

  • Accommodations, lodging, and food services (restaurants)

2. Theology and religion

Annual Average Pay: $31,630

A degree in theology and religion analyzes various theological and biblical texts, religions, and the interaction between people and religion. As they study challenging subjects like ethics, these students develop their critical thinking skills.

3. Design and applied arts

The average annual salary for design and applied arts is $49,290.

Individuals that are artistic and imaginative should major in design and applied arts. Students specializing in this area have the chance to work on a variety of images and goods for both businesses and private clients.

4. Visual and performing arts

Annual pay average: $50,550

During this artistic degree program, students can show their creativity in many different ways, such as through drawing, painting, sculpting, dancing, acting, graphic design, and photography.

5. Social work

The average yearly wage for social work is $56,750.

Students who earn a degree in social work are equipped with the knowledge and abilities to assist a variety of people in a variety of situations. For example, a clinical social worker looks at and helps people who have mental, behavioral, or emotional problems.

6. Elementary education

Average income for elementary education: $59,670 annually.

Elementary education majors are prepared to work with students in kindergarten through the fifth grade. Among the duties of an elementary teacher are the following: • delivering differentiated education to kids; and • creating a warm and engaging classroom environment.

7. Health and physical education

The average yearly wage for health and physical education is $59,670.

Teachers of health and physical education engage with students in elementary, middle, and high schools to teach them the value of fitness and health. These educators must acquire state certification in order to work in a school setting after receiving their degrees in physical education. A bachelor’s degree and relevant internship experience may be prerequisites for some programs.

8. Psychology

The average yearly salary for psychology is $78,200. (with an advanced degree)

Students majoring in psychology research both human behavior and the science of the human brain. A psychology degree can be fulfilling because it enables you to assist others. There are various kinds of psychologists, such as:

  • Clinical, counseling, educational, and industrial-organizational

9. Sociology

The average yearly salary for sociologists is $83,420. (with an advanced degree)

An opportunity to analyze society through examining people’s relationships and behaviors is provided by majoring in sociology. Sociologists typically concentrate on relationships inside groups, including religious, political, and cultural organizations. To find out how a government policy impacts a certain group of individuals, a sociologist can, for instance, conduct interviews with that group.

10. Healthcare administration

The average yearly wage for healthcare management is $100,980. (with an advanced degree)

This major focuses on running the various healthcare facilities’ operational processes. Healthcare administrators are typically in charge of overseeing the personnel, patient files, and financial information of a hospital, clinic, or other healthcare facilities.

Best college majors for lucrative careers

What are the best college majors for lucrative careers? We have already covered the list of the most lucrative college majors and the least lucrative college majors. This time, let’s check out the best college majors for lucrative careers.

1. Oil and Gas Engineering

Numerous math and science courses must be taken in order to earn a degree in petroleum engineering. Your broadened knowledge of pertinent information will be useful during fieldwork and other professional tasks, which is the aim of these classes.

2. Actuarial Mathematics

If research, data collection, and financial analysis are your passions, you might want to study actuarial mathematics. Because businesses and organizations need to make practical financial projections about what will happen in the future in their area of business, actuarial mathematics is one of the top degrees that will be in demand in the future. The majority of the time, an actuary’s role involves determining the degree of risk associated with a financial decision or action taken by executives.

3. Applied Economics and Management

Another one of the top college degrees for careers in the finance sector that pays well is applied economics and management. Economics, financial case studies, and company policies will all be covered in applied economics and management courses.

Two unidentified students, one holding a mobile phone the other holding a piece of paper with graphs written in them, studying at one of the best finance schools

These will assist them in conducting financial analyses correctly, gathering pertinent company data for studies, and checking them for issues and loopholes with the aim of offering real-world solutions based on accepted economic theories.

4. Atomic Engineering

A large area of engineering study is nuclear engineering. As a result, specialization will be necessary to declare a college major. You’ll learn everything there is to know about nuclear physics and calculations. The investigation of safety procedures and methods related to unstable energy is another attractive field of expertise in nuclear engineering.

5. Computer Science

One of the top college majors for careers and one of the most lucrative college majors, with excellent earnings and room for career advancement, is computer science. Globalization and technical development go hand in hand. And nothing involving technology or “going digital” can be done without a computer scientist’s expertise.

6. Business Management

Have you ever fantasized about leading a Fortune 500 business? Do you have any novel business concepts that you would love to put into practice and realize? You might not need any additional preparation beyond a business administration degree.

7. Nursing

It should come as no surprise that nursing made our list of the top undergraduate majors for high-paying careers. This group of primary healthcare providers is in high demand because of the severe effects of the COVID pandemic, making them one of the degrees with the greatest employment prospects worldwide.

8. Accounting

One of the degrees that pays well is accounting. Additionally, the Bureau of Labor Statistics projects a 7% gain in employment for this career path between 2020 and 2030. That is extremely encouraging! According to the BLS, a beginning accountant might earn a yearly median salary of $73,560.

9. Online safety

Because more and more people are using the internet and because technology is changing quickly, there is a growing need to make the internet safe for everyone in order to stop cyberattacks, theft, and identity fraud.

A degree in cybersecurity is an excellent choice if you are a tech enthusiast or want to keep the digital world safe. Because it is not as saturated as other tech-related occupations, cybersecurity is not currently a very competitive field. As a result, now is the ideal time to embark on a cybersecurity profession.

10. Personnel Resources

One of the top college majors for professional options and financial potential is human resources. According to a recent survey, American human resources professionals can expect to make an average of $107,127 per year. According to the BLS, pay will rise by 9% over the next ten years to $121,220.

It can be difficult to choose from the most lucrative college majors, but AdmissionSight can assist you by evaluating your academic and extracurricular activities and detailing a personalized academic and extracurricular roadmap and plan for the duration of your high school career.

With more than ten years of experience, AdmissionSight has helped students get into the finest colleges in the world and navigate the challenging admissions process. One of the highest admission rates in the field is 75% for our students at Ivy League universities: Stanford, MIT, UChicago, and Caltech. Set up a time for your introductory consultation right away if you’d like. Book your consultation today!

 

 

 

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