The 16 highest-paying college majors, 5 years after graduation (2024)

If you're looking for a college degree with maximum earning potential, you'll want to be an engineer.

Engineering degrees took nine of the top 16 rankings for college majors with the highest income five years after graduation, according to a recent New York Federal Reserve study of full-time workers.

Computer engineering majors ranked first with an annual median salary of $80,000, followed by chemical engineering and computer science — the only two other majors that pay more than $75,000 annually.

The trend is expected to continue going forward too. STEM jobs — science, technology, engineering and mathematics — are expected to grow twice as fast as non-STEM jobs through 2031.

Here are the 16 highest-paying college majors:

The technical knowledge, mathematical proficiency and problem-solving abilities required in engineering are valuable across many industries. As such, the profession tends to have higher salaries compared to other occupations.

Engineers also get top dollar when they gain more experience. When looking at "mid-career" graduates — those ages 35 to 45 who are working full-time — engineering majors tend to make six figures.

Here's a look at the rankings for mid-career graduates:

Once again, chemical engineering is ranked first, with $133,000 in annual median income. Chemical engineers get paid well since they often work in lucrative sectors like oil and gas, pharmaceuticals and semiconductor manufacturing.

In contrast, the lowest paying majors tend to be in liberal arts or education. Early childhood education had the lowest pay for mid-career earners, with $48,000 in annual median income. That's only $8,000 more than the $40,000 early childhood educators make at the beginning of their careers.

Data for this annual study was compiled from U.S. Census data from 2022, the most recent available. The study excludes majors currently enrolled in school and is limited to a working age population aged 25 to 65, with a bachelor's degree or higher.

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The 16 highest-paying college majors, 5 years after graduation (1)

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The 16 highest-paying college majors, 5 years after graduation (2024)

FAQs

What is the highest paying major 5 years after graduation? ›

College majors that pay the most five years after graduation
MajorMedian Wage Early CareerMedian Wage Mid Career
Computer Engineering$80,000$125,000
Aerospace Engineering$74,000$120,000
Electrical Engineering$72,000$112,000
Mechanical Engineering$70,000$111,000
6 more rows
May 3, 2024

What job pays the most after 4 years of college? ›

Engineering majors tend to have the highest earnings according to the BLS, with a median annual wage of $93,000 per year . This can be a useful career option for people who enjoy solving complex problems. Mathematics is another high-paying major, and graduates can earn a median annual wage of $75,000 per year .

What 6 year degree pays the most? ›

What Are the Highest-Paying Bachelor's Degrees?
  • Aerospace Engineering. ...
  • Electrical Engineering. ...
  • Mechanical Engineering. ...
  • Computer Science. ...
  • Finance. ...
  • Economics. ...
  • Civil Engineers. ...
  • Business Analytics. For students interested in business, finance, data, statistics, and mathematics, a business analytics major is a great choice.
Jun 13, 2024

What college major has the highest income? ›

Top 20 College majors with the highest salaries
  • Chemical Engineering. Engineering degrees are a common theme on this list. ...
  • Computer Engineering. ...
  • Aerospace Engineering. ...
  • Electrical Engineering. ...
  • Computer Science. ...
  • Mechanical Engineering. ...
  • Civil Engineering. ...
  • Industrial Engineering.
May 29, 2024

What is the number #1 highest paying major? ›

College majors that pay the most for mid-career workers
1.Chemical engineering$133K
2.Computer engineering$125K
3.Aerospace engineering$120K
4.Electrical engineering$112K
5.Mechanical engineering$111K
11 more rows
Mar 14, 2024

How to make 100k after college? ›

Best jobs with a bachelor's degree that pay over $100,000 per year
  1. Sales executive. ...
  2. Compensation manager. ...
  3. Economist. ...
  4. Actuary. ...
  5. Risk manager. ...
  6. Strategy manager. ...
  7. Chief financial officer. ...
  8. Loan officer.
Apr 18, 2024

What jobs pay 6 figures straight out of college? ›

As you start your job search, consider these six-figure jobs you can get with a bachelor's degree:
  • Financial manager. ...
  • Development director. ...
  • Aeronautical engineer. ...
  • Sales engineer. ...
  • Software engineer. ...
  • Architect. ...
  • Actuary. ...
  • Chief executive officer (CEO)
Apr 18, 2024

Which degree is best for a high salary? ›

Some of the best career options after 12th with high salary include:
  • Medicine/MBBS.
  • Computer Science Engineering.
  • Research.
  • MBA.
  • Data Science.
  • Business Analytics.
  • Chartered Accountancy.
  • Investment Banking.

What is the most valuable degree? ›

A recent study published in the American Educational Research Journal found that engineering and computer science majors provide the highest returns in lifetime earnings, followed by business, health, and math and science majors.

What degree is the richest? ›

Top 7 degrees that make the most millionaires
  • Engineering.
  • Economics/Finance.
  • Politics.
  • Mathematics.
  • Computer Science.
  • Law.
  • MBA.
May 29, 2024

What is the most lucrative major? ›

10 college majors that make the most money
  • Business.
  • Economics.
  • Accounting.
  • Biomedical engineering.
  • Mathematics or Statistics.
  • Finance.
  • Nursing.
  • Information technology.
Mar 10, 2023

What major makes the most money in 2024? ›

1. Computer Science. First among the highest-paying majors in 2024 is Computer Science. Computer Science graduates can thank the tech sector's rapid growth that continues to create job opportunities for skilled professionals.

What is the most useful degree? ›

Fields like Computer Science, Healthcare, Engineering, and Business Management often top the list due to their high demand in the job market, strong salary potential, and broad applicability across industries.

What major makes a lot of money? ›

Computer engineering majors topped the list of highest earners right after college, making a median annual wage of $80,000, according to the Federal Reserve Bank of New York. According to 2022 data from the Bureau of Labor Statistics (BLS), computer engineers (hardware) earned a median salary of $132,360.

What is the lowest paying major? ›

College majors that pay the least for mid-career workers
  • Early Childhood Education $48,000.
  • General Education $52,000.
  • Elementary Education $52,000.
  • Secondary Education $55,000.
  • Miscellaneous Education $56,000.
  • Social Services $56,000.
  • Theology + Religion $56,000.
  • Special Education $57,000.
Mar 24, 2024

What degree gives the highest return? ›

College majors with the highest and lowest return

A recent study published in the American Educational Research Journal found that engineering and computer science majors provide the highest returns in lifetime earnings, followed by business, health, and math and science majors.

What degree has the highest graduate salary? ›

The highest-paying degree you can get – according to our graduate data – is one in Dentistry. It's a specialised and vocational subject area, where most graduates find professional work in a dental-related role soon after completing their studies.

What graduate degree makes the most money? ›

The top 8 highest-paying master's degrees
  • Master of Business Administration (MBA)
  • Master of Science in Nursing.
  • Master of Science in Engineering Management.
  • Master of Science in Petroleum Engineering.
  • Master of Science in Finance.
  • Master of Arts in Political Science.
  • Master of Science in Computer Science.
Jun 20, 2024

Can you make six figures with a bachelor's degree? ›

While wages vary based on the industry and a candidate's experience, holding a bachelor's degree can lead, in some cases, to a six-figure salary.

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