Money grab: The 10 college majors with the highest annual incomes
Asher Notheis
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College students studying some form of engineering are likely set for a stable financial future if a recent study is any indication.
The study shows eight out of the 10 highest paying jobs five years after graduation are in engineering. Chemical engineering is at the top of the list of early career incomes, raking in $75,000 annually in median wages, according to a study by the New York Federal Reserve.
Other engineering majors on the list include computer engineering at $74,000, aerospace engineering at $72,000, mechanical, industrial, and electrical engineering at $70,000 each, miscellaneous engineering at $68,000, and civil engineering at $65,000. The only two majors in the top 10 not related to engineering are computer science at $73,000 and business analytics at $66,000.
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Additionally, seven of the 10 highest earning “mid-career” graduates, meaning people between the ages of 35 and 40, are involved in engineering. Chemical engineering is once again at the top of the list at $120,000 annually, with computer science being the only non-engineering major making it into the top five at $105,000 annually.
The unemployment rate was also analyzed in the study, with only one engineering major, engineering technologies, making it into the top 10 at 7.1%. It was tied with international affairs for the same rate. Fine arts topped the unemployment rate at 12.1%, followed by philosophy at 9.1% and sociology at 9%.
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Data for the study were compiled from 2021 U.S. Census data, with the recent graduate data based on college graduates who work full time, have a bachelor’s degree only, and are between ages 22 and 27. Data for the mid-career graduates were based on those between the ages of 35 and 45 who have a bachelor’s degree or higher.