Going to college is a serious investment. Over 44 million Americans collectively hold nearly $1.5 trillion in student debt because they know that earning a college degree is crucial in getting ahead in the modern economy.
But it can be difficult to estimate the return on this investment, especially since the hottest jobs of tomorrow may not exist yet. Fortunately, there are resources that students can refer to that indicate what majors are paying off right now.
Salary comparison site PayScale recently surveyed 2.3 million graduates from over 2,700 colleges across the country. What they found is that students who studied a very specific list of majors had the highest median earnings within the first five years of their careers and 10 years into their careers. Computer science, surprisingly, did not make the cut.
Here are the 10 highest-paying college majors right now:
Early career salary: $68,600
Mid-career salary: $119,100
Early career salary: $54,000
Mid-career salary: $121,900
Early career salary: $54,100
Mid-career salary: $122,200
Early career salary: $60,000
Mid-career salary: $122,900
Early career salary: $73,900
Mid-career salary: $123,200
Early career salary: $70,300
Mid-career salary: $124,500
Early career salary: $69,000
Mid-career salary: $127,500
Early career salary: $61,200
Mid-career salary: $130,800
Early career salary: $56,400
Mid-career salary: $131,700
Early career salary: $94,600
Mid-career salary: $175,500
Petroleum engineering majors reported the highest mid-career salaries through their careers. According to PayScale, workers with this degree make around $175,000 a year. The Bureau of Labor Statistics projects a 15 percent job growth rate for petroleum engineers, more than double the average growth rate for all jobs.
Several other engineering majors cracked the top 10, including nuclear engineering, chemical engineering and marine engineering. Mathematics-focused majors like actuarial studies and economics also ranked highly.
“Students and parents want to make informed decisions about future career and income opportunities associated with their college education investment,” PayScale Vice President Lydia Frank says in a statement shared wtih CNBC Make It. “While earning potential should not be the only consideration, it is an important factor, especially when evaluating the cost of education today.”
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