2:25pm, November 21, 2013, Topics: top-earning majors, lowest-earning majors, college major, future income
To what extent does your college major dictate your future income? Very much so, according to recent research conducted by Anthony P. Carnevale, Jeff Strohl and Michelle Meltonan at Georgetown University.
The team interviewed hundreds of full-time employees holding various bachelor 's degrees and calculated each area of study's median reported earnings.
The range of earnings is staggering. The highest-paid area of study—petroleum engineering—makes $91,000 (134%) more than the lowest-paid area, counseling psychology.
The researchers wrote that income isn't the only thing to consider when selecting a major, but hoped their research would help students make educated financial decisions.
Top 10 highest-paid college majors
1. Petroleum Engineering: $120,000
2. Pharmacy Pharmaceutical Sciences and Administration: $105,000
3. Mathematics and Computer Science: $98,000
4. Aerospace Engineering: $87,000
5. Chemical Engineering: $86,000
6. Electrical Engineering: $85,000
7. Naval Architecture and Marine Engineering: $82,000
8. Mechanical Engineering: $80,000
9. Metallurgical Engineering: $80,000
10. Mining and Mineral Engineering: $80,000
Top 10 lowest-paid college majors
1. Counseling Psychology: $29,000
2. Early Childhood Education: $36,000
3. Theology and Religious Vocations: $38,000
4. Human Services and Community Organization: $38,000
5. Social Work: $39,000
6. Drama and Theater Arts: $40,000
7. Studio Arts: $40,000
8. Communication Disorders Sciences and Service: $40,000
9. Visual and Performing Arts: $40,000
10. Health and Medical Preparatory Programs: $40,000