- More employers may be dropping degree requirements, but college graduates can still use their diplomas to earn top dollar wages if they choose the right major.
When it comes to college degrees, studying STEM still pays off.
The most lucrative majors include computer engineering, chemical engineering and computer science, according to new data from the Federal Reserve Bank of New York. STEM majors are by and far the largest group set up for success from the start, with a median early-career salary of $80,000 annually. By the time they hit mid-career, the median income jumps up to six figures.
Aerospace engineering majors top the list of mid-career (age 35-45) earnings, with a median annual income of $125,000. Close behind are computer engineering majors, with a $122,000 median annual income. Both chemical and electrical engineering majors earn a median of $120,000 yearly.
The rapid advancement of artificial intelligence has played a large part in the growth of technology sector roles, and major companies like Meta, Apple, and Netflix are searching for engineers who can keep up with the pace.
However, it’s not just engineers who can score big—economics and finance majors earn a median salary of $110,000 by mid-career. Workers with degrees in business analytics, information systems and management, international affairs, math, and physics all earn a median annual income of $100,000.
On the flip side, the lowest-paying majors are in the liberal arts and education. For mid-career workers, early childhood education majors earn the least with a median salary of $49,000.
To summarize, the top paying degrees for early-career earnings are:
- Chemical engineering ($80,000)
- Computer engineering ($80,000)
- Computer science ($80,000)
- Electrical engineering ($78,000)
- Aerospace engineering ($76,000)
- Industrial engineering ($76,000)
- Mechanical engineering ($75,000)
- Civil engineering ($71,000)
The top paying degrees for mid-career earnings are:
- Aerospace engineering ($125,000)
- Computer engineering ($122,000)
- Chemical engineering ($120,000)
- Electrical engineering ($120,000)
- Computer science ($115,000)
- Economics ($110,000)
- Finance ($110,000)
