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Financial security may or may not be at the top of a college student's list of reasons for choosing a major. But, the current state of the economy may leave some students, particularly those pursuing a liberal arts degree, wondering if financial security is in their future at all. From 2009 to 2010, the number of job openings for recent graduates with a bachelor's degree obtained from a traditional or online school dropped 22 percent. This is an especially valid issue in terms of loan repayment and graduate's financial stability. Unemployment for this age group and education level is currently above 7 percent.
College tuition rises each year, with rates increasing as high as 23 percent for private schools and 30 percent for public schools in the past decade. But salaries are not rising respectively. According to surveys conducted by the National Association of Colleges and Employers, the average salary of a person with a bachelor's degree has dropped 1.7 percent in the past year alone. These days, money is an issue for students to consider, and whether they come out ahead or in debt ten years after graduation may depend on the major they choose.
Newsweek recently compiled a list of the "Best Majors for Big Paychecks," as a resource for students seeking financial security. The majors were selected based on average starting and mid-career level salaries. The data does not include professions that require an advanced degree.
Engineering: Graduates of engineering programs typically earn a mean annual salary of $90,600. The top 10 percent of the field earn on average close to $136,000.
Economics: Graduates of economics programs typically earn a mean annual salary of $96,320. The top 10 percent of the field earn on average around $153,210.
Physics: Graduates of physics programs typically earn a mean annual salary of $111,250. The top 10 percent of the field earn on average around $165,750.
Computer Science: Graduates of computer science programs typically earn a mean annual salary of $78,010. The top 10 percent of the field earn on average around $115,050.
Statistics/Math: Graduates of statistics/math programs typically earn a mean annual salary of $93,920. The top 10 percent of the field earn on average around $142,460.
Biochemistry: Graduates of biochemistry programs typically earn a mean annual salary of $88,550. The top 10 percent of the field earn on average around $138,820.
Construction Management: Graduates of construction management programs typically earn a mean annual salary of $93,290. The top 10 percent of the field earn on average around $151,630.
Finance: Graduates of finance programs typically earn a mean annual salary of $85,240. The top 10 percent of the field earn on average around $139,350.
Information Systems: Graduates of information systems programs typically earn a mean annual salary of $120,640. The top 10 percent of the field earn on average around $166,400.
Geology: Graduates of geology programs typically earn a mean annual salary of $92,710. The top 10 percent of the field earn on average around $161,260.
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