The National Association of Colleges and Employers (NACE) released its latest list of the highest-paying college majors of the class of 2010 last week, with engineering- and technology-related fields of study once again coming out on top.
This probably won''t come as much of a surprise to you. Engineering and technology majors consistently rank high on any list of highest-paying careers, and there have only been minor changes in the ranks over the last few years. (Information sciences and systems is a new addition to the list this year, coming in at 10th place.) The only non-engineering related degrees in the top 10 this time around were computer science and information sciences and systems. According to NACE, petroleum engineering earned the highest starting salary reported at the bachelor’s degree level ($86,220). That average starting salary was more than one-and-one-half times the average starting salary reported for bachelor’s degree graduates as a whole ($48,351). The average starting salary for all graduates has fallen about 2 percent since 2009, by the way.
It's certainly not always the case, but often, the more technical your skills are, the more potential you have of landing an impressive starting salary. There''s less competition in a field like petroleum engineering, for example, as it isn't the most popular of majors, so those engineers benefit from those odds with higher salaries. (Petroleum engineering degrees account for less than 1 percent of all bachelor’s degrees conferred, according to NACE.)
What does this mean for you liberal arts majors? Even you business majors may worry that you''ll have a tough time making ends meet, as business isn't exactly overrepresented on the NACE list. Still, not everyone is going to grow up to become an engineer. (And if they did, the list would surely shift, as it depends greatly on the supply and demand of new graduates.) Certainly, the kind of field you're interested in should play a big part when you're deciding on a college major. And most college students do still consider interest over salary potential when choosing their majors, as the most popular fields of study fall well outside petroleum engineering. (According to the U.S. Department of Education, the most popular college majors are in business, the social and health sciences, and education.)
Take the NACE list with a grain of salt, and don't change your focus to aeronautics just because of the pay potential. If you have no interest in one of those high-paying majors, chances are you'll have a tough time getting through a four-year program in that discipline, and if you do graduate, an even tougher time liking a job in a career you chose for the money. But if you are passionate about engineering and technology, that's great. You'll have a good starting salary to go along with a job you enjoy.
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