Highest Paying Majors in 2024
Your Bachelor's degree choice can impact how much money you'll make in the future. This article will explore the highest paying majors that lead to lucrative careers.
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✨ 5-second summary
- What major you choose to pursue can impact how much money you earn after graduation, as well as later in your career.
- Engineering and computer science majors tend to earn significantly more than other Bachelor's graduates.
Are you currently deciding on your major, but are unsure whether it'll pay off long-term? We'll go over the things you should consider before applying, as well as what are the best college majors you could choose in terms of setting up your future career.
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Discover programs →Does your major impact your future salary?
In short: yes.
There's a fair amount of research which suggests that choice of major can significantly influence earnings in early and late career:
College grads earn more than their peers without a degree
The most recent study showing this came out in 2024. According to PayScale, a global platform for salary information, found that college grads’ median pay stands at about 37% higher than median pay for those without a Bachelor’s.
Some majors pay a lot more than others
A found that people who study Operations Research earn annual incomes of about $112,000 four years after graduation, while Music majors earn about $34,000 a year.
According to this report, the top 5 best paying college degrees are:
- Operations research (salary of $112,097 - 4 years after graduation)
- Naval Architecture and Marine Engineering ($109,121)
- Computer Science ($104,799)
- Marine Transportation ($103,626)
- Computer Engineering ($99,063)
Majors in business and STEM lead to top-paying jobs
This was also confirmed by the Georgetown University Center on Education and the Workforce report, , which provides an extensive analysis of the relationship between undergraduate majors and earnings.
Here are some of their key findings:
- Business and STEM are the most common and generally the highest-paying majors.
- The gap between wages of different majors grows larger over time. STEM graduates have a significantly higher earning potential in their mid-career than their humanities and social science counterparts.
1. Petroleum engineering
💰 Median starting salary: $85,000
Petroleum engineers study exploration and extraction techniques for oil and natural gas resources.
Popular entry-level jobs:
- Reservoir Engineer
- Drilling Engineer
- Production Engineer
2. Software engineering
💰 Median starting salary: $80,000
Software engineers create algorithms, data structures and programs to solve real-world problems.
Popular entry-level jobs:
- Front-End Developer
- Back-End Developer
- Junior Web Developer
3. Nuclear engineering
💰 Median starting salary: $76,000
Research and develop processes, instruments, and systems used to derive benefits from nuclear energy and radiation.
Popular entry-level jobs:
- Nuclear Systems Engineer
- Radiation Safety Specialist
- Reactor Engineer
4. Aerospace/aeronautical engineering
💰 Median starting salary: $75,500
Aerospace engineers design, develop, and produce aircraft, spacecraft, and related systems and equipment.
Popular entry-level jobs:
- Aerospace Design Engineer
- Flight Test Engineer
- Systems Engineer
5. Chemical engineering
💰 Median starting salary: $75,000
Apply chemistry, biology, physics, and math to solve problems involving the production of chemicals, fuel, drugs, food, and more.
Popular entry-level jobs:
- Process Engineer
- Chemical Production Engineer
- Quality Control Engineer
6. Electrical engineering and engineering technology
💰 Median starting salary: $75,000
Electrical engineers study how electricity, electronics, and electromagnetism can be used to design electrical and electronic systems.
Popular entry-level jobs:
- Electronics Engineer
- Control Systems Engineer
- RF (Radio Frequency) Engineer
7. Environmental engineering
💰 Median starting salary: $75,000
Environmental engineers develop solutions to environmental problems, such as pollution and waste management, to protect human health and the ecosystem.
Popular entry-level jobs:
- Water Resources Engineer
- Air Quality Specialist
- Environmental Compliance Specialist
8. Computer science
💰 Median starting salary: $74,000
Study algorithms, programming, data structures, and the design and analysis of computer systems.
Popular entry-level jobs:
- Software Developer
- Systems Analyst
- IT Specialist.
9. Mechanical engineering
💰 Median starting salary: $73,000
Mechanical engineers design, analyze, and maintain mechanical systems, such as machinery, tools, and equipment, to solve problems and improve functionality.
Popular entry-level jobs:
- Mechanical Design Engineer
- HVAC (Heating, Ventilation, and Air Conditioning) Engineer
- Manufacturing Engineer
10. Biomedical engineering
💰 Median starting salary: $73,000
Biomedical engineers design and develop medical equipment, devices, computer systems, and software used in healthcare, often combining principles from biology and medicine.
Popular entry-level jobs:
- Clinical Engineer
- Biomechanical Engineer
- Medical Device Quality Engineer
Exceptions and considerations
While many high paying majors lead to high paying jobs, it's essential to remember that success isn't guaranteed solely by choice of major:
Saturation: Some high paying fields may become saturated, leading to increased competition and potentially reduced wages. For instance, IT is a field where despite the potential for high earnings, many software engineering graduates struggle to find high paying jobs due to market saturation.
Geographical differences: Earnings can vary based on location. A software engineer in Silicon Valley may earn more than one in a smaller city, due to the higher cost of living and concentration of tech companies.
Soft skills: Even in specialized fields, soft skills like communication, teamwork, and leadership can play a significant role in career advancement and salary potential.
Continued learning: Some fields may require continuous learning or additional certifications to maintain high earning potential. This is particularly important in law, engineering, and similar fields.
Bottom line
Ultimately, no job is worth the money if your heart isn't in it. Choosing a major that sparks your interest is important. Finding a major that you love, and to wake up every morning, excited to dive into your coursework because it actually interests you is key.
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The ÃÛÌÒÓ°Ïñ Team is comprised of experienced educators and advisors dedicated to providing valuable resources and advice to students all over the world.
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