THE ECONOMIC VALUE COLLEGE MAJORS. Anthony P. Carnevale Executive Summary 2015

Transcription

1 THE ECONOMIC VALUE of COLLEGE MAJORS Anthony P. Carnevale Ban Cheah Andrew R. Hanson Executive Summary 215

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3 The Economic Value FACT SHEET of College Majors In this report, we analyze the annual earnings of college graduates by major. Entry-level earnings are for ages Mid-career earnings are for ages Earnings are reported in 213 dollars. Majors are aggregated into seven supergroups: STEM (Science, technology, engineering, and mathematics) Business Teaching and serving (E.g., education and social work) Health Arts, humanities, and liberal arts Career-focused (E.g., industrial arts) Social sciences We also analyze the prevalence of majors among college-educated adults and how much graduate degree holders earn based on their undergraduate major compared to Bachelor s degree holders. Finally, we analyze the 1 highest- and lowest-paying majors among 137 detailed major subgroups. Graduate degree holders include workers between the ages of 25 and 59. Graduate degree holders majors refer to their undergraduate major, not their graduate field of study. Bachelor s degree holders refers to adults between the ages of 21 and 59 with a Bachelor s degree but no further education. Earnings data are reported for workers employed full-time, full-year. Data on the prevalence of majors include all college-educated adults, including those neither employed nor in the labor force. High school graduates refers to workers between the ages of 21 and 59 with nothing other than a high school diploma, employed full-time, full-year. The views expressed in this publication are those of the authors and do not necessarily represent those of Lumina Foundation, the Bill & Melinda Gates Foundation, the Joyce Foundation, or their officers, or their employees. 3

4 FIGURE 1 Not all Bachelor s degrees are created equal. $43, $41, $37, $3, $29, Entry-level At the entry level, health majors earn $41, annually, while humanities and liberal arts majors earn STEM Health Business Career-focused Arts, humanities, and liberal arts $29, annually. Median annual wages of college-educated workers (ages 21-24) by major supergroup (213$) Mid-career Among prime-age workers, 1 those who $76, $67, $65, $61, $51, $46, majored in STEM earn $76, annually, while those who had a teaching and serving major earn $46, annually. STEM Business Health All majors Arts, humanities, and liberal arts Teaching and serving Median annual wages of college-educated workers (ages 25-59) by major supergroup (213$) FIGURE 2 College graduates wages increase over the course of their careers, while the differences in wages among majors grow larger. Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 1 Prime-age workers refers to those between the ages of 25 and 59. 4

5 FIGURE 3 Majors play a larger role in determining earnings than the decision to go to college. $3.4 MILLION $1 MILLION The difference between the lifetime wages of college and high school graduates is $1 million; the difference between the highest- and lowest-paying college majors is $3.4 million. Difference in lifetime wages of college and high school graduates Difference in lifetime wages of highest- and lowest-paying majors Lifetime wage premium (in millions of 213$) FIGURE 4 Your major isn t your destiny. Some college graduates who have generally low-paying majors earn more than some college graduates with generally higher-paying majors: the top 25 percent of education majors earn $59, or more annually, while the bottom 25 percent of engineering majors earn $59, or less annually. $59, Engineering All majors Education 25th 5th 75th High school graduate $4, $8, $12, Interquartile range of annual wages of college-educated workers (ages 25-59) by educational attainment and major group (213$) Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 5

6 FIGURE 5 Business majors and STEM majors are the most common and among the highest-paying majors. Social sciences 6.9% Health 7.5% 26.1% Business Career-focused (E.g., industrial arts) 11.9% Arts, humanities, and liberal arts 13.4% Teaching and serving (E.g., education and social work) 14.5% 19.6% STEM (Science, technology, engineering, and mathematics) Share of college graduates (ages 25-59) by meta-major FIGURE 6 Most students choose a major that is connected to the labor market. 2% Majors with weak connections to the labor market humanities and liberal arts, social sciences, and arts majors comprise only 2 percent of college-educated workers. Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 6

7 FIGURE 7 Some majors are more likely to lead to graduate school than others. Biology and life sciences majors are the most likely to earn a graduate degree. 57.7% Biology and life sciences 5.% Physical sciences Three most likely majors to earn a graduate degree 45.3% Psychology and social work Three least likely majors to earn a graduate degree 35.1% All majors 23.2% Arts 22.2% Business 2.8% Communications and journalism FIGURE 8 The benefit of a graduate degree is much greater for some majors than others. Physical sciences Social sciences Business Psychology and social work Education Industrial arts, consumer services, and recreation $32, $27, $22, $16, $15, $13, $2, $4, $6, $8, $1, Median annual wages Graduate degree wage premium Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 7

8 What s It Worth? Highest- and Lowest-Earning Majors FACT SHEET Almost all of the highest-paying majors are in engineering fields. Rank 2 Pharmacy and Pharmaceutical Sciences and Administration $4, $8, 1 Petroleum Engineering $136, 3 Metallurgical Engineering $98, $113, $12, 4 Mining and Mineral Engineering $97, 5 Chemical Engineering $96, 6 Electrical Engineering $93, 7 Aerospace Engineering $9, 8 Mechanical Engineering $87, 9 Computer Engineering $87, Pharmacy, pharmaceutical sciences, and pharmaceutical administration Bachelor s degree holders have the only non-engineering major among the top 1 majors ranked by wages. 1 Geological and $87, Geophysical Engineering The lowest-paying majors are in education, arts, and social work fields. 128 Family and Consumer Sciences $45, 129 Drama and Theater Arts $45, 13 Elementary Education 131 Theology and Religious Vocations 132 Visual and Performing Arts 133 Teacher Education: Multiple Levels 134 Social Work 135 Studio Arts 136 Human Services and Community Organization 137 Early Childhood Education $43, $43, $42, $42, $42, $42, $41, $39, Early childhood education majors earn $39, annually mid-career, the lowest among college graduates. Median annual wages of college-educated workers (ages 25-59) by major subgroup (213$) Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 8

9 137 Detailed Majors Selective Statistics Contents Mid-career earnings at the 25th, 5th and 75th s, by Bachelor s degree major The graduate advantage, mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major All majors by group, ranked by earnings and popularity 34 Lowest- and highest-earning majors, Bachelor s degree holders 36 Lowest- and highest-earning majors, graduate degree holders 38 Majors ranked by popularity for Bachelor s degree holders 39 Majors ranked by popularity for graduate degree holders

10 MID-CAREER EARNINGS AT THE 25TH, 5TH AND 75TH PERCENTILES, BY BACHELOR S DEGREE MAJOR All Bachelor s Degree Holders $4, $8, $12, $16, Agriculture and Natural Resources Agricultural Economics Food Science Forestry Miscellaneous Agriculture Natural Resources Management General Agriculture Plant Science and Agronomy Animal Sciences 25th 5th 75th Architecture and Engineering Petroleum Engineering Metallurgical Engineering Mining and Mineral Engineering Chemical Engineering Electrical Engineering Aerospace Engineering Geological and Geophysical Engineering Mechanical Engineering Civil Engineering Engineering Mechanics, Physics, and Science General Engineering Industrial and Manufacturing Engineering Architectural Engineering Engineering and Industrial Management Environmental Engineering Miscellaneous Engineering Industrial Production Technologies Miscellaneous Engineering Technologies Biomedical Engineering Mechanical Engineering-Related Technologies Architecture Engineering Technologies Arts Commercial Art and Graphic Design Film, Video, and Photographic Arts Fine Arts Music Drama and Theater Arts Studio Arts Visual and Performing Arts Petroleum Engineering 75th earnings $243, $4, $8, $12, $16, 1

11 Mid-career earnings at the 25th, 5th and 75th s, by Bachelor s degree major All Bachelor s Degree Holders Biology and Life Sciences Microbiology Biochemical Sciences Zoology Environmental Science Biology Miscellaneous Biology Molecular Biology Botany Ecology Neuroscience $4, $8, $12, $16, Business Management Information Systems and Statistics Business Economics Finance Operations Logistics and E-Commerce Accounting General Business Marketing and Marketing Research Business Management and Administration International Business Miscellaneous Business and Medical Administration Human Resources and Personnel Management Hospitality Management Communications and Journalism Journalism Advertising and Public Relations Communications and Mass Media Computers, Statistics, and Mathematics Computer Engineering Applied Mathematics Computer Science Statistics and Decision Science Information Sciences Mathematics Computer and Information Systems Miscellaneous Computer $4, $8, $12, $16, 11

12 Mid-career earnings at the 25th, 5th and 75th s, by Bachelor s degree major All Bachelor s Degree Holders Education Miscellaneous Education Physical and Health Education Teaching Mathematics Teacher Education Science and Computer Teacher Education Secondary Teacher Education Social Sciences or History Teacher Education Art and Music Education General Education Language and Drama Education Special Needs Education Elementary Education Teacher Education: Multiple Levels Early Childhood Education Health Pharmacy and Pharmaceutical Sciences and Administration Nursing Treatment Therapy Professions Miscellaneous Health and Medical Professions Health and Medical Administrative Services Health and Medical Preparatory Programs Nutrition Sciences Communication Disorders Sciences and Services Humanities and Liberal Arts History English Language and Literature Liberal Arts French, German, Latin, and Other Common Foreign Language Studies Intercultural and International Studies Area Ethnic and Civilization Studies Other Foreign Languages Philosophy and Religious Studies Linguistics and Comparative Language and Literature Art History and Criticism Humanities Composition and Speech Multi/Interdisciplinary Studies Theology and Religious Vocations $4, $8, $12, $16, $4, $8, $12, $16, 12

13 Mid-career earnings at the 25th, 5th and 75th s, by Bachelor s degree major All Bachelor s Degree Holders Industrial Arts, Consumer Services, & Recreation Transportation Sciences and Technologies Miscellaneous Industrial Arts and Consumer Services Physical Fitness, Parks, Recreation, and Leisure Family and Consumer Sciences Law and Public Policy Public Policy Public Administration Criminal Justice and Fire Protection Pre-Law and Legal Studies Physical Sciences Physics Geology and Earth Science Oceanography Atmospheric Sciences and Meteorology Nuclear, Industrial Radiology, and Biological Technologies Chemistry Geosciences Physical Sciences Multi-Disciplinary or General Sciences Psychology and Social Work Industrial and Organizational Psychology Social Psychology Psychology Social Work Human Services and Community Organization Social Sciences Economics Political Science and Government International Relations Geography Miscellaneous Social Sciences Criminology General Social Sciences Sociology Anthropology and Archeology Interdisciplinary Social Sciences $4, $8, $12, $16, $4, $8, $12, $16, Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 13

14 The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major THE GRADUATE ADVANTAGE The charts displayed in this section (the graduate advantage) show the interquartile range of annual wages for each major group and subgroup. Each horizontal bar corresponds to a major group or subgroup. The leftmost point on the bar shows the 25th of the wage distribution. The dot in the middle of the bar shows the median or 5th of the wage distribution. The rightmost point on the bar shows the 75th of the wage distribution. The columns on the right correspond to the percentage and absolute difference between the median annual wage distribution of graduate degree holders and Bachelor s degree holders. 32.9% $18,3 Major group 5th Percentile Change $4, $8, $12, Percent Absolute Agriculture and Natural Resources 32.9% $18,3 Agricultural Economics 23.8% $16, Major subgroups Forestry 29.% $18, General Agriculture 27.6% $14,7 25th 5th 75th $4, $8, $12, Bachelor s degree holders Graduate degree holders 5th absolute change 25th The bottom 25 percent of college-educated workers earn less than the 25th. 5th Half of college-educated workers earn more than the median and half earn less. 75th The top 25 percent of collegeeducated workers earn more than than 75th. 14

15 Agriculture and Natural Resources The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major 5th Percentile Change $4, $8, $12, Percent Absolute Agriculture and Natural Resources 32.9% $18,3 Agricultural Economics Forestry Food Science Animal Sciences Natural Resources Management Plant Science and Agronomy Miscellaneous Agriculture General Agriculture 23.8% 29.% 14.5% 54.5% 28.5% 31.6% 23.5% 27.6% $16, $18, $9,8 $26,8 $15,8 $16,9 $13,4 $14,7 $4, $8, $12, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 15

16 Architecture and Engineering The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, $16, 5th Percentile Change Percent Absolute Architecture and Engineering 25.% $21, Petroleum Engineering Geological and Geophysical Engineering ($243,) ($27,) ($182,) -5.4% 31.6% (-$7,) $27, Aerospace Engineering 24.5% $22, Electrical Engineering 2.% $19, Chemical Engineering 12.9% $12, Metallurgical Engineering 11.1% $11, Engineering and Industrial Management 39.3% $31, Engineering Mechanics, Physics, and Science 32.2% $26, Mechanical Engineering 23.% $2, Mining and Mineral Engineering 8.6% $8, General Engineering 27.7% $22, Industrial and Manufacturing Engineering 24.6% $2, Civil Engineering 21.4% $18, Miscellaneous Engineering 29.4% $22, Miscellaneous Engineering Technologies 23.3% $17, Mechanical Engineering- Related Technologies 27.6% $19, Industrial Production Technologies 19.4% $14, Environmental Engineering 15.8% $12, Biomedical Engineering 24.1% $17, Architectural Engineering 1.7% $1, Engineering Technologies 18.8% $12, Architecture 13.3% $9, $4, $8, $12, $16, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 16

17 The Graduate Advantage Arts Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $2, $4, $6, $8, $1, 5th Percentile Change Percent Absolute Arts Commercial Art and Graphic Design Music 22.9% 23.7% 25.% $11, $12, $12, Drama and Theater Arts Fine Arts Film, Video, and Photographic Arts Visual and Performing Arts Studio Arts 34.4% 22.4% 16.7% 31.4% 29.5% $15, $11, $9, $13, $12, $2, $4, $6, $8, $1, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 17

18 Biology and Life Science The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, $16, $2, 5th Percentile Change Percent Absolute Biology and Life Sciences Zoology Biochemical Sciences Biology Microbiology Molecular Biology Miscellaneous Biology Environmental Science Botany Ecology Neuroscience 63.3% 8.7% 64.9% 7.9% 42.7% 62.% 49.5% 24.7% 27.4% 29.7% 26.3% $36, $47, $38, $4, $27, $34, $27, $14, $14, $15, $13, $4, $8, $12, $16, $2, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th Percentile Absolute Change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 18

19 The Graduate Advantage Business Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, $16, 5th Percentile Change Percent Absolute Business 33.3% $22, Finance 39.9% $29, Business Economics Operations Logistics and E-Commerce Management Information Systems and Statistics Accounting General Business Marketing and Marketing Research Business Management and Administration International Business 33.1% 38.% 2.% 32.2% 36.6% 29.3% 3.6% 32.5% $25, $27, $15, $22, $24, $18, $19, $19, Miscellaneous Business and Medical Administration 32.% $19, Human Resources and Personnel Management 28.% $16, Hospitality Management 33.7% $18, $4, $8, $12, $16, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 19

20 Communications and Journalism The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major 5th Percentile Change $2, $4, $6, $8, $1, Percent Absolute Communications and Journalism 25.5% $14, Journalism Communications and Mass Media Advertising and Public Relations 27.% 24.% 2.% $15, $13, $11, $2, $4, $6, $8, $1, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th Percentile Absolute Change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 2

21 The Graduate Advantage Computers, Statistics, and Mathematics Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major 5th Percentile Change $4, $8, $12, Percent Absolute Computers, Statistics, and Mathematics 25.6% $19, Applied Mathematics Computer Engineering Statistics and Decision Science Computer Science Mathematics Information Sciences Computer and Information Systems Miscellaneous Computer 27.5% 17.3% 29.3% 2.6% 24.5% 2.8% 22.3% 37.4% $23, $15, $23, $17, $18, $15, $15, $22, $4, $8, $12, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 21

22 Education The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $2, $4, $6, $8, 5th Percentile Change Percent Absolute Education Physical and Health Education Teaching Secondary Teacher Education Science and Computer Teacher Education Miscellaneous Education Mathematics Teacher Education Social Sciences or History Teacher Education Special Needs Education Art and Music Education Language and Drama Education General Education Elementary Education Teacher Education: Multiple Levels Early Childhood Education 33.3% 32.2% 33.6% 34.1% 23.% 29.% 33.3% 34.% 33.5% 33.8% 31.1% 33.3% 34.2% 36.6% $15, $16, $16, $16, $12, $14, $16, $15, $15, $15, $14, $14, $14, $14, $2, $4, $6, $8, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th Percentile Absolute Change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 22

23 The Graduate Advantage Heath Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, 5th Percentile Change Percent Absolute Health 29.2% $19, Health and Medical Preparatory Programs Pharmacy and Pharmaceutical Sciences and Administration ($291,) 136.1% $74, 4.4% $5, Nursing 33.5% $22, Health and Medical Administrative Services 44.7% $25, Miscellaneous Health and Medical Professions 29.3% $17, Treatment Therapy Professions 11.7% $8, Nutrition Sciences 34.2% $18, Communication Disorders Sciences and Services 44.4% $2, $4, $8, $12, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 23

24 Humanities and Liberal Arts The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, 5th Percentile Change Percent Absolute Humanities and Liberal Arts History Area Ethnic and Civilization Studies Intercultural and International Studies Humanities Liberal Arts Other Foreign Languages English Language and Literature Philosophy and Religious Studies Linguistics and Comparative Language and Literature French, German, Latin, and Other Common Foreign Language Studies Art History and Criticism Composition and Speech Multi/Interdisciplinary Studies Theology and Religious Vocations 34.2% 47.6% 49.8% 4.% 45.9% 33.5% 36.5% 29.4% 34.4% 36.7% 3.% 34.9% 3.5% 24.1% 18.7% $18, $26, $26, $21, $22, $18, $19, $16, $17, $18, $16, $17, $14, $11, $8, $4, $8, $12, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th Percentile Absolute Change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 24

25 The Graduate Advantage Industrial Arts, Consumer Services & Recreation Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major 5th Percentile Change $4, $8, $12, Percent Absolute Industrial Arts, Consumer Services, & Recreation 25.4% $13, Transportation Sciences and Technologies 29.7% $22, Miscellaneous Industrial Arts and Consumer Services Physical Fitness, Parks, Recreation, and Leisure Family and Consumer Sciences 18.9% 33.3% 33.5% $4, $8, $12, $12, $16, $15, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 25

26 Law and Public Policy The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, 5th Percentile Change Percent Absolute Law and Public Policy 33.1% $18, Public Policy 41.1% $27, Pre-Law and Legal Studies 51.9% $27, Public Administration 2.8% $13, Criminal Justice and Fire Protection 29.7% $16, $4, $8, $12, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th Percentile Absolute Change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 26

27 The Graduate Advantage Physical Sciences Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, $16, 5th Percentile Change Percent Absolute Physical Sciences Chemistry Physics Geosciences Nuclear, Industrial Radiology, & Biological Technologies Oceanography Geology and Earth Science Multi-Disciplinary or General Science Atmospheric Sciences and Meteorology Physical Sciences 5.% 61.6% 25.% 53.5% 47.7% 31.5% 25.1% 42.4% 26.6% 27.6% $32, $39, $2, $34, $31, $22, $17, $26, $18, $17, $4, $8, $12, $16, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 27

28 Psychology and Social Work The Graduate Advantage Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, 5th Percentile Change Percent Absolute Psychology and Social Work 33.3% $16, Industrial and Organizational Psychology 26.4% $17, Social Psychology 37.8% $19, Psychology 33.3% $16, Social Work 3.1% $13, Human Services and Community Organization 31.% $13, $4, $8, $12, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th Percentile Absolute Change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 28

29 The Graduate Advantage Social Sciences Mid-career earnings at the 25th, 5th and 75th s by Bachelor s degree major $4, $8, $12, $16, 5th Percentile Change Percent Absolute Social Sciences Economics Political Science and Government International Relations Miscellaneous Social Sciences Geography Criminology General Social Sciences Interdisciplinary Social Sciences Anthropology and Archeology Sociology 44.6% 43.6% 49.1% 46.4% 42.7% 33.9% 31.2% 29.3% 4.% 35.5% 28.% $27, $33, $31, $29, $24, $2, $17, $15, $19, $17, $14, $4, $8, $12, $16, 25th 5th 75th Bachelor s degree holders Graduate degree holders 5th absolute change Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 29

30 ALL MAJORS BY GROUP RANKED BY EARNINGS AND POPULARITY Bachelor s Degree Ranking By earnings By popularity Graduate Degree Ranking By earnings By popularity Agriculture and Natural Resources Agricultural Economics Animal Sciences Food Science Forestry General Agriculture Miscellaneous Agriculture Natural Resources Management Plant Science and Agronomy Architecture and Engineering 7 1 Aerospace Engineering Architectural Engineering Architecture Biomedical Engineering Chemical Engineering Civil Engineering Electrical Engineering Engineering and Industrial Management Engineering Mechanics, Physics, and Science Engineering Technologies Environmental Engineering General Engineering Geological and Geophysical Engineering Industrial and Manufacturing Engineering Industrial Production Technologies Mechanical Engineering Mechanical Engineering-Related Technologies Metallurgical Engineering Mining and Mineral Engineering Miscellaneous Engineering Miscellaneous Engineering Technologies Petroleum Engineering Arts Commercial Art and Graphic Design Drama and Theater Arts Film, Video, and Photographic Arts Fine Arts Music Studio Arts Visual and Performing Arts

31 All Majors by Group Ranked by Earnings and Popularity Bachelor s Degree Ranking By earnings By popularity Graduate Degree Ranking By earnings By popularity Biology and Life Sciences Biochemical Sciences Biology Botany Ecology Environmental Science Microbiology Miscellaneous Biology Molecular Biology Neuroscience Zoology Business 38 3 Accounting Business Economics Business Management and Administration Finance General Business Hospitality Management Human Resources and Personnel Management International Business Management Information Systems and Statistics Marketing and Marketing Research Miscellaneous Business and Medical Administration Operations Logistics and E-Commerce Communications and Journalism Advertising and Public Relations Communications and Mass Media Journalism Computers, Statistics, and Mathematics Applied Mathematics Computer and Information Systems Computer Engineering Computer Science Information Sciences Mathematics Miscellaneous Computer Statistics and Decision Science

32 All Majors by Group Ranked by Earnings and Popularity Bachelor s Degree Ranking By earnings By popularity Graduate Degree Ranking By earnings By popularity Education Art and Music Education Early Childhood Education Elementary Education General Education Language and Drama Education Mathematics Teacher Education Miscellaneous Education Physical and Health Education Teaching Science and Computer Teacher Education Secondary Teacher Education Social Sciences or History Teacher Education Special Needs Education Teacher Education: Multiple Levels Health Communication Disorders Sciences and Services Health and Medical Administrative Services Health and Medical Preparatory Programs Miscellaneous Health Medical Professions Nursing Nutrition Sciences Pharmacy and Pharmaceutical Sciences and Administration Treatment Therapy Professions Humanities and Liberal Arts Area Ethnic and Civilization Studies Art History and Criticism Composition and Speech English Language and Literature French, German, Latin, and Other Common Foreign Language Studies History Humanities Intercultural and International Studies Liberal Arts Linguistics and Comparative Language and Literature Multi/Interdisciplinary Studies Other Foreign Languages Philosophy and Religious Studies Theology and Religious Vocations

33 All Majors by Group Ranked by Earnings and Popularity Bachelor s Degree Ranking By earnings By popularity Graduate Degree Ranking By earnings By popularity Industrial Arts, Consumer Services, and Recreation Family and Consumer Sciences Miscellaneous Industrial Arts and Consumer Services Physical Fitness, Parks, Recreation, and Leisure Transportation Sciences and Technologies 33 1 Law and Public Policy 8 13 Criminal Justice and Fire Protection Pre-Law and Legal Studies Public Administration Public Policy Physical Sciences Atmospheric Sciences and Meteorology Chemistry Geology and Earth Science Geosciences Multidisciplinary or General Science Nuclear, Industrial Radiology, and Biological Technologies Oceanography Physical Sciences Physics 2 29 Psychology and Social Work Human Services and Community Organization Industrial and Organizational Psychology Psychology Social Psychology Social Work Social Sciences Anthropology and Archeology Criminology Economics General Social Sciences Geography Interdisciplinary Social Sciences International Relations Miscellaneous Social Sciences Political Science and Government Sociology

34 LOWEST- AND HIGHEST-EARNING MAJORS BACHELOR S DEGREE HOLDERS Rank Major Median Earnings $48, Drama and Theater Arts Fine Arts $44,538 $48,871 Agriculture and Natural Resources 113 Music $48, Studio Arts Visual and Performing Arts $41,762 $42,465 Architecture and Engineering 117 Neuroscience $48, Art and Music Education $45, Early Childhood Education $39,97 Arts 13 Elementary Education $42, General Education $45,572 Biology and Life Sciences 127 Language and Drama Education $45, Mathematics Teacher Education $48,654 Business Science and Computer Teacher Education Secondary Teacher Education $47,785 $48,78 Communications and Journalism 12 Social Science or History Teacher Education $46,68 Computers, Statistics, and Mathematics 126 Special Needs Education $45, Teacher Education: Multiple Levels $42,194 Education 122 Communication Disorders Sciences and Services $45, Art History and Criticism Composition and Speech $48,871 $46,68 Health Humanities Multi/Interdisciplinary Studies $48,686 $45,613 Humanities and Liberal Arts Theology and Religious Vocations Family and Consumer Sciences $42,736 $44,743 Industrial Arts, Consumer Services, & Recreation Physical Fitness, Parks, Recreation, and Leisure Human Services and Community Organization $48,686 $41,113 Law and Public Policy Physical Sciences Psychology Social Work $48,686 $42,194 Psychology and Social Work Anthropology and Archeology Interdisciplinary Social Sciences $48,679 $48,679 Social Sciences 34

35 Lowest- and Highest-Earning Majors Bachelor s Degree Holders $72,51 Median Earnings Major Rank $9,141 Aerospace Engineering 7 $8,13 Architectural Engineering 18 $96,156 Chemical Engineering 5 $82,858 Civil Engineering 12 $93,215 Electrical Engineering 6 $77,679 Engineering and Industrial Management 19 $8,787 Engineering Mechanics Physics and Science 17 $76,22 Environmental Engineering 22 $8,787 General Engineering 16 $86,553 Geological and Geophysical Engineering 1 $81,452 $73,719 Industrial and Manufacturing Engineering Industrial Production Technologies $86,883 Mechanical Engineering 8 $97,743 Metallurgical Engineering 3 $97,372 Mining and Mineral Engineering 4 $76,22 Miscellaneous Engineering 23 $135,754 Petroleum Engineering 1 $74,788 Business Economics 25 $72,51 Finance 3 Management Information $76, Systems and Statistics $82,858 Applied Mathematics 13 $86,553 Computer Engineering 9 $82,858 Computer Science 11 $73,46 Information Sciences 27 $72,51 Mathematics 29 $77,679 Statistics and Decision Science 2 Pharmacy and Pharmaceutical $112,519 2 Sciences and Administration $72,764 Transportation Sciences and Technologies 28 $81,143 Physics 15 $75,68 Economics 24 Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 35

36 LOWEST- AND HIGHEST-EARNING MAJORS GRADUATE DEGREE HOLDERS Rank Major Commercial Art and Graphic Design Drama and Theater Arts Median Earnings $62,751 $59,857 Agriculture and Natural Resources $65, Film, Video, and Photographic Arts $59, Fine Arts Music $59,83 $6,872 Architecture and Engineering 134 Studio Arts $54, Visual and Performing Arts $55, Neuroscience $6,872 Arts Advertising and Public Relations Art and Music Education $65,162 $6,872 Biology and Life Sciences 136 Early Childhood Education $53, Elementary Education 127 General Education 122 Language and Drama Education 116 Mathematics Teacher Education $56,965 $59,732 $6,818 $62,751 Business Communications and Journalism Computers, Statistics, and Mathematics 114 Miscellaneous Education $64, Science and Computer Teacher Education $64,14 Education 112 Secondary Teacher Education $64, Social Sciences or History Teacher Education Special Needs Education $62,144 $6,872 Health Teacher Education: Multiple Levels Composition and Speech $56,625 $6,818 Humanities and Liberal Arts Multi/Interdisciplinary Studies 137 Theology and Religious Vocations Family and Consumer Sciences Physical Fitness, Parks, Recreation, and Leisure Human Services and Community Organization Psychology $56,625 $5,727 $59,732 $64,915 $53,858 $64,915 Industrial Arts, Consumer Services, & Recreation Law and Public Policy Physical Sciences Psychology and Social Work Social Work Sociology $54,893 $64,915 Social Sciences 36

37 Lowest- and Highest-Earning Majors Graduate Degree Holders $97, Median Earnings Major Rank $112,181 Aerospace Engineering 5 $18,63 Chemical Engineering 7 $1,618 Civil Engineering 22 $111,861 Electrical Engineering 6 $18,191 Engineering and Industrial Management 1 $16,839 Engineering Mechanics Physics and Science 11 $13,173 General Engineering 17 $113,93 Geological and Geophysical Engineering 4 $11,498 Industrial and Manufacturing Engineering 19 $16,839 $15,771 $18,63 Mechanical Engineering Metallurgical Engineering Mining and Mineral Engineering $98,41 Miscellaneous Engineering 26 $128,43 Petroleum Engineering 1 $97,358 Biochemical Sciences 3 $14,259 $99,536 $11,453 $97,395 $15,644 $11,498 $99,915 $1,465 $13,573 $98,394 $117,523 $128,27 Zoology 15 Business Economics 25 Finance 21 Operations Logistics and E-Commerce 29 Applied Mathematics 14 Computer Engineering 18 Computer Science 24 Statistics and Decision Science 23 Health and Medical Preparatory Programs Pharmacy and Pharmaceutical Sciences and Administration 3 2 Chemistry 16 Geosciences 27 $97,395 Nuclear, Industrial Radiology, and Biological Technologies 28 $11,453 $18,63 Physics Economics 2 9 Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 37

38 MAJORS RANKED BY POPULARITY BACHELOR S DEGREE HOLDERS 3 Most Popular Majors (Rank) 3 Least Popular Majors (Rank) Electrical Engineering (17) 1.68% General Engineering (23) 1.32% Mechanical Engineering (24) 1.32% Commercial Art and Graphic Design (22) 1.44% Agriculture and Natural Resources Architecture and Engineering.9% Agricultural Economics (112).6% Food Science (116).5% Architectural Engineering (122).8% Engineering and Industrial Management (114) Fine Arts (21) 1.48% Biology (14) 2.6% Accounting (3) 4.63% Business Management and Administration (1) 8.14% Finance (12) 2.33% General Business (2) 5.39% Marketing and Marketing Research (7) Communications and Mass Media (6) 3.15% 3.52% Journalism (27) 1.11% Computer Science (11) 2.43% Mathematics (3).91% Elementary Education (9) 2.79% General Education (8) 2.87% Miscellaneous Health Medical Professions (25) 1.2% Nursing (4) 4.48% Arts Biology and Life Science Business Communications and Journalism Computers, Statistics, and Mathematics Education.4% Engineering Mechanics, Physics, and Science (123).1% Engineering Technologies (111).3% Environmental Engineering (128).1% Geological and Geophysical Engineering (137).8% Mechanical Engineering- Related Technologies (113).2% Metallurgical Engineering (136).2% Mining and Mineral Engineering (131).4% Petroleum Engineering (124).3% Botany (129).7% Molecular Biology (115).2% Neuroscience (133).5% Applied Mathematics (119).6% Statistics and Decision Science (117).11% Science and Computer Teacher Education (18) English Language and Literature (1) 2.51%.6% Health and Medical Preparatory Programs (118) History (18) 1.64% Liberal Arts (19) 1.62% Family and Consumer Sciences (29) Physical Fitness, Parks, Recreation, and Leisure (28) Criminal Justice and Fire Protection (13) Multi-Disciplinary or General Science (26).92%.98% 2.19% 1.14% Psychology (5) 4.4% Economics (16) 1.86% Political Science and Government (15) 1.89% Sociology (2) 1.58% Health Humanities and Liberal Arts Industrial Arts, Consumer Services, & Recreation Law and Public Policy Physical Sciences Psychology and Social Work Social Science.11% Humanities (19).11% Multi/Interdisciplinary Studies (11).4% Public Policy (127).4% Atmospheric Sciences and Meteorology (126).2% Geosciences (134).5% Nuclear, Industrial Radiology, and Biological Technologies (12).3% Oceanography (13).2% Physical Sciences (135).5% Industrial and Organizational Psychology (121).2% Social Psychology (132).4% Miscellaneous Social Sciences (125) 38 Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample.

39 GRADUATE DEGREE HOLDERS 3 Most Popular Majors (Rank) 3 Least Popular Majors (Rank) Electrical Engineering (13) 2.3% Agriculture and Natural Resources.6% Agricultural Economics (125) General Engineering (21) 1.37% Mechanical Engineering (18) 1.61% Biology (2) 5.49% Accounting (9) 2.86% Business Management and Administration (5) 3.94% Finance (17) 1.69% General Business (8) 2.91% Marketing and Marketing Research (25) Communications and Mass Media (16) 1.4% 1.71% Computer Science (14) 2.1% Mathematics (19) 1.61% Elementary Education (4) 3.94% General Education (3) 4.13% Communication Disorders Sciences and Services (3) Miscellaneous Health Medical Professions (23).95% 1.12% Nursing (1) 2.58% English Language and Literature (6) 3.54% History (11) 2.57% Liberal Arts (26) 1.3% Philosophy and Religious Studies (27) Criminal Justice and Fire Protection (24) 1.% 1.5% Chemistry (15) 1.92% Multi-Disciplinary or General Science (28).99% Physics (29).96% Psychology (1) 6.41% Social Work (22) 1.28% Economics (12) 2.42% Political Science and Government (7) 3.31% Sociology (2) 1.48% Architecture and Engineering Arts Biology and Life Science Business Communications and Journalism Computers, Statistics, and Mathematics Education Health Humanities and Liberal Arts Industrial Arts, Consumer Services, & Recreation Law and Public Policy Physical Sciences Psychology and Social Work Social Science.8% Food Science (119).1% Forestry (18).3% Architectural Engineering (133).7%.9% Engineering and Industrial Management (122) Engineering Mechanics Physics and Science (116).6% Engineering Technologies (127).7% Environmental Engineering (123).2%.9%.3% Geological and Geophysical Engineering (137) Industrial Production Technologies (115) Mechanical Engineering- Related Technologies (132).5% Metallurgical Engineering (128).3% Mining and Mineral Engineering (136).3% Petroleum Engineering (131).1% Visual and Performing Arts (19).8% Botany (118).9% Neuroscience (112).9% Operations Logistics and E-Commerce (113).9% Applied Mathematics (111).7% Multi/Interdisciplinary Studies (12).1% Miscellaneous Industrial Arts and Consumer Services (11).9% Public Policy (114).6% Atmospheric Sciences and Meteorology (126).5% Geosciences (129).8% Nuclear, Industrial Radiology, and Biological Technologies (117).4% Oceanography (13).3% Physical Sciences (134).6% Industrial and Organizational Psychology (124).3% Social Psychology (135).7% Miscellaneous Social Sciences (121) Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, pooled sample. 39

40 HELP READING OUR CHARTS LOWEST- AND HIGHEST-EARNING MAJORS This chart shows the 3 highest paying majors and the 3 lowest paying majors. The leftmost column displays the rank of the 3 lowest paying majors among the 137 major subgroups. To the right of that column is the median annual wages (213$) of that major subgroup. The rightmost column displays the rank of the 3 highest paying majors among the 137 major subgroups. To the left of that column is the median annual wages (213$) of that major subgroup. The chart is sorted alphabetically by the 15 major groups included in the center. Each of the 15 major groups is represented by a distinct color. For example, architecture and engineering majors are red. Rank Major Median Earnings $48,871 $72,51 Median Earnings Major Rank Drama and Theater Arts Fine Arts $44,538 $48,871 Agriculture and Natural Resources $9,141 Aerospace Engineering 7 Architectural Engineering 18 $8, Music $48,686 $96,156 Chemical Engineering Studio Arts Visual and Performing Arts $41,762 $42,465 Architecture and Engineering $82,858 Civil Engineering 12 Electrical Engineering 6 $93, Neuroscience $48,19 $77,679 Engineering and Industrial Management Art and Music Education $45,613 $8,787 Engineering Mechanics Physics and Science Early Childhood Education $39,97 Arts $76,22 Environmental Engineering Elementary Education $42,736 $8,787 General Engineering General Education $45,572 Biology and Life Sciences $86,553 Geological and Geophysical Engineering Language and Drama Education $45,44 $81,452 Industrial and Manufacturing Engineering Mathematics Teacher Education $48,654 Business $73,719 Industrial Production Technologies Science and Computer Teacher Education Secondary Teacher Education $47,785 $48,78 Communications and Journalism $86,883 Mechanical Engineering 8 $97,743 Metallurgical Engineering 3 12 Social Science or History Teacher Education $46,68 Computers, Statistics, and Mathematics $97,372 Mining and Mineral Engineering Special Needs Education $45,44 $76,22 Miscellaneous Engineering Teacher Education: Multiple Levels $42,194 Education $135,754 Petroleum Engineering Communication Disorders Sciences and Services $45,654 $74,788 Business Economics Art History and Criticism Composition and Speech $48,871 $46,68 Health $72,51 Finance 3 Management Information $76, Systems and Statistics Humanities Multi/Interdisciplinary Studies $48,686 $45,613 Humanities and Liberal Arts $82,858 Applied Mathematics 13 $86,553 Computer Engineering Theology and Religious Vocations Family and Consumer Sciences $42,736 $44,743 Industrial Arts, Consumer Services, & Recreation $82,858 Computer Science 11 $73,46 Information Sciences Physical Fitness, Parks, Recreation, and Leisure Human Services and Community Organization Psychology Social Work $48,686 $41,113 $48,686 $42,194 Law and Public Policy Physical Sciences Psychology and Social Work $72,51 Mathematics 29 $77,679 Statistics and Decision Science 2 Pharmacy and Pharmaceutical $112,519 2 Sciences and Administration $72,764 Transportation Sciences and Technologies Anthropology and Archeology Interdisciplinary Social Sciences $48,679 $48,679 Social Sciences $81,143 Physics 15 $75,68 Economics 24 4

41 MAJORS RANKED BY POPULARITY This chart shows the 3 most common majors and 3 least common majors for Bachelor s degree holders and graduate degree holders. The leftmost column displays the rank of the 3 most common majors among the 137 major subgroups. The majors are sorted alphabetically by major group (displayed in the center on each page)in a stacked column. Each of the 15 major groups is represented by a distinct color. The rightmost column displays the rank of the 3 least common majors by the 137 major subgroups. The rank of each major subgroup is displayed in parentheses. (Rank) Finance (12) 2.33% General Business (2) 5.39% To the immediate left (for most popular) or right (for least popular), the percentage of college graduates with each respective major is displayed..4% Miscellaneous Social Sciences (125) 3 Most Popular Majors (Rank) 3 Least Popular Majors (Rank) Agriculture and Electrical Engineering (17) 1.68%.9% Agricultural Economics (112) Natural Resources General Engineering (23) 1.32%.6% Food Science (116) Mechanical Engineering (24) 1.32% Architecture and.5% Architectural Engineering (122) Engineering Commercial Art and 1.44% Graphic Design (22) Fine Arts (21) 1.48% Biology (14) 2.6% Accounting (3) 4.63% Business Management 8.14% and Administration (1) Finance (12) 2.33% General Business (2) 5.39% Marketing and Marketing 3.15% Research (7) Communications and 3.52% Mass Media (6) Journalism (27) 1.11% Computer Science (11) 2.43% Mathematics (3).91% Elementary Education (9) 2.79% General Education (8) 2.87% Miscellaneous Health 1.2% Medical Professions (25) Nursing (4) 4.48% English Language 2.51% and Literature (1) History (18) 1.64% Liberal Arts (19) 1.62% Family and Consumer.92% Sciences (29) Physical Fitness, Parks,.98% Recreation, and Leisure (28) Criminal Justice and 2.19% Fire Protection (13) Multi-Disciplinary or 1.14% General Science (26) Psychology (5) 4.4% Economics (16) 1.86% Political Science and 1.89% Government (15) Sociology (2) 1.58% Arts Biology and Life Science Business Communications and Journalism Computers, Statistics, and Mathematics Education Health Humanities and Liberal Arts Industrial Arts, Consumer Services, & Recreation Law and Public Policy Physical Sciences Psychology and Social Work Social Science.8% Engineering and Industrial Management (114).4% Engineering Mechanics, Physics, and Science (123).1% Engineering Technologies (111).3% Environmental Engineering (128).1% Geological and Geophysical Engineering (137).8% Mechanical Engineering- Related Technologies (113).2% Metallurgical Engineering (136).2% Mining and Mineral Engineering (131).4% Petroleum Engineering (124).3% Botany (129).7% Molecular Biology (115).2% Neuroscience (133).5% Applied Mathematics (119).6% Statistics and Decision Science (117).11% Science and Computer Teacher Education (18).6% Health and Medical Preparatory Programs (118).11% Humanities (19).11% Multi/Interdisciplinary Studies (11).4% Public Policy (127).4% Atmospheric Sciences and Meteorology (126).2% Geosciences (134).5% Nuclear, Industrial Radiology, and Biological Technologies (12).3% Oceanography (13).2% Physical Sciences (135).5% Industrial and Organizational Psychology (121).2% Social Psychology (132).4% Miscellaneous Social Sciences (125) 41