The cost of attending school to earn degree is more than what most students can afford today. It is therefore not practical for students to train for jobs that don’t provide much earning potential while racking up a lot of debt. Earning potential depends on many different factors. For example, Ivy League Schools like Harvard, Dartmouth and Princeton rank at the top when it comes to the earning potential of students after graduation. However, even students that don’t attend these schools have the opportunity to find a job that pays them well if they select the right degree. Given below are the top 5 most lucrative degrees right now (mid-career as well as starting earning potential numbers taken from PayScale):
Average Starting Earnings: $48,800
Average Mid-Career Earnings: $97,800
Graduates with an economics degree have the potential to earn a six figure income by the time they reach the mid-career threshold. The Department of Labor states that students with a good understanding and knowledge of economics have the potential to find employment in many different fields today including insurance, finance and business. Potential career paths they can pursue after graduation include Actuary, Economist and Budget Analyst among others.
- Information Systems
Average Starting Earnings: $49,300
Average Mid-Career Earnings: $87,100
Information systems graduates have a very bright future because there is a lot of demand for their skills not just in the United States but in countries around the world. The Department of Labor in the U.S. estimates that employment numbers for information systems managers is expected to grow by 17% by 2018. Graduates with an information systems degree have many different career options to consider. Some of the most common positions offered to these graduates include Information Systems Manager, Computer Support Specialist and Systems Administrator.
- Actuarial Mathematics
Average Starting Earnings: $56,100
Average Mid-Career Earnings: $112,000
The skills that graduates earn with a degree in Actuarial Mathematics are very specialized and are in great demand in the financial sector. These graduates are employed in pensions, insurance and investment sectors as well as for risk management in larger companies. They can work with actuarial consultancies and have the opportunity to move on to other roles such as career advisors, business operations managers, consultants, alternative risk roles and even in teaching.
- Aerospace Engineering
Average Starting Earnings: $62,500
Average Mid-Career Earnings: $118,000
Aerospace Engineers are responsible for the science and the construction of spacecraft and aircraft. Close to 50% of all aerospace engineers worked in the guided missile, aircraft, space vehicle and parts manufacturing industries. A majority of the jobs are provided by federal government agencies but opportunities are also available in architectural and engineering services, business services, electronics and electrical manufacturing, testing and research services.
- Petroleum Engineering
Average Starting Earnings: $98,000
Average Mid-Career Earnings: $163,000
Petroleum Engineers have expertise in gas and oil drilling, production and reservoir management. There are several different career options for graduates with petroleum engineering degrees such as drilling engineers, production engineers, reservoir engineers and petroleum geologists. However, their work is often high-risk and they are required to work in remote offshore oil rigs.
Pursuing a degree that leads to very specific positions in a field instead of a variety of options is more likely to result in high paying jobs. Degrees like English and Theater often do not pay that well because they do not lead to very specific positions.
If scientific facts send your neurons racing one another towards a new idea, if you show attention to details, are creative, have the ability to think logically, and are mathematically inclined when dealing with situations… Then you know you’ve been invaded by the drive to be an engineer.
But are you having second thoughts about engineering?
Then let us share some thoughts on why engineering may be the right fit for you. Apart from our views, many great high school study abroad programs as well as thriving colleges in USA for engineering bear testimony to the success and demand for engineering.
Why Choose Engineering?
To ‘engineer’ literally means to “make things happen”, that should tell tales about the field itself: Engineering is all about progress, about designing, developing, and manufacturing useful products and services for the people. Engineering expertise converts scientific knowledge into technology and as a result fuels innovation. Many seemingly simple aspects of our daily lives have been conceptualized, designed, and developed by an engineer.
Suffice it to say, that our modern world could not have been if it weren’t for the engineers transforming theories into practical gadgets, gizmos, and supersized satellites, etc.
Engineers Have Diverse Careers
Search engineering disciplines, and the search results will simply bamboozle you! There are literally thousands of engineering sub branches covering almost every aspect of our lives. Thin k of computer engineering and you can go anywhere from communication to programming to designing microprocessors and even how to manufacturing these products, and marketing them!
Whatever your interest, engineering most likely has a place for you!
Engineers Get To Do Cool Stuff
Did you know that some companies have special rooms for engineers only? That’s because being an engineer means you get to use high end technologies to develop products.
Engineers are involved in making the future a reality. They are also the first people to get a glimpse at innovations that are most likely to change the way we perceive work, our lives, and our world. Engineers design and build skyscrapers, rocket launches, virtual reality worlds, medicine that cures cancers, and at times get to name new planets.
Engineers Work Everywhere
Engineers are often required to remain on the move: in cities, in regional and rural communities, and even remote wilderness areas. They have to work in diverse areas — some engineers are needed to overlook design of the products and hence work in business offices, others train in classrooms, while still others are found in factories and research labs. Some even work in outer space.
What’s more, many engineers undertaken double degrees and go into medicine, law, business management, or policy. An engineering education will prepare you for many different careers.
Start Your Planning Today!
Plan your engineering careers, search the top colleges in USA for engineering, and other high school study abroad programs, then gain the skills you need for your dream engineering occupation and become a catalyst that makes a difference to the world!
Acclaimed Engineering Schools
Some of the highest-paying occupations are in engineering. First-year salaries for graduates with bachelor’s degrees in 2013 averaged $63,000, according to the nonprofit National Association of Colleges and Employers. Seven of the 10 college degree programs that result in the most lucrative salaries involve engineering.
Petroleum engineering featured the highest starting pay ($96,200) among all majors in 2013. Beginning computer engineers placed second at $70,300, with engineering majors ranking third at $66,900. Students of aerospace, aeronautical and astronautical engineering and those with degrees in mechanical engineering tied for fourth at $63,900. Graduates in electrical, electronics, and communications engineering netted an average of $62,500. Engineering technology, at $60,900, placed eighth among all occupations.
Engineering jobs pay so well in part because of the significant financial investment in education, and years of hard work, required to become an engineer. Another reason for the high salaries is the shortage of many types of engineers.
Students who are interested in engineering may want to consider the rewards of majoring in one of the discipline’s numerous specialties. Many colleges and universities offer degree programs in various engineering fields.
The Accreditation Board for Engineering and Technology, as well as U.S. News & World Report, have compiled lists of the top schools for engineering majors. Here is a look at the universities receiving the highest marks.
Massachusetts Institute of Technology
The famed MIT in Cambridge, Mass., ranked at the top of the lists published by the ABET and U.S. News in 2013. That year, 3,163 students were majoring in engineering at the school. The annual tuition for a full-time student was $41,770.
MIT, according to the ABET, has the best aerospace, aeronautical, and astronautical engineering program. The organization also placed MIT at the top for chemical; computer; electrical, electronic, and communications; and mechanical engineering.
Both lists featured California’s Stanford University ranking alongside MIT as the best engineering schools that offer doctorate degrees. Stanford’s engineering enrollment in 2013 was 3,548 students, with a tuition rate of $43,950.
No engineering school has better degree programs for environmental and environmental-health engineering students, according to the ABET. However, Stanford is a tough school to get into, as it accepts fewer than 10 percent of student applicants.
University of California-Berkeley
Tied for first in the ABET rankings and third on the U.S. News list was the University of California-Berkeley. It had an engineering enrollment of 1,837 students and a tuition rate of $11,220 ($26,322 for out-of-staters) in 2013.
UC-Berkeley, which has been called the nation’s best public university, is top-ranked by ABET in civil engineering. It is second in chemical engineering, as well as environmental and environmental-health engineering.
California Institute of Technology
The California Institute of Technology, in Pasadena, is among the most famous engineering schools. It placed fourth on the U.S. News list. CIT had 587 engineering students and a tuition rate of $38,084 in 2013.
Carnegie Mellon University
Coming in fifth on the U.S. News list was Carnegie Mellon University, in Pittsburgh, Penn. It is renowned for programs in an array of science and engineering fields. The engineering enrollment was 2,857 students, with a tuition rate of $38,900, in 2013.
These are just some of the options for students looking for a good engineering school. The Georgia Institute of Technology, Purdue University, the University of Illinois-Urbana-Champaign, and the University of Michigan-Ann Arbor also have won praise.
According to the ABET, the best undergraduate engineering programs (where doctorates are not available) are at the Rose-Hulman Institute of Technology in Terre Haute, Ind.; Harvey Mudd College in Claremont, Calif.; and the U.S. Military Academy in West Point, N.Y.
The Online College Database reported that Northwestern University has the most degree programs in engineering. Next on that list are the Missouri University of Science and Technology, North Carolina State University at Raleigh, the Colorado School of Mines, and the University of Southern California.
Money is not the only factor in choosing a major and deciding upon a career. Students are advised to focus on occupations that they enjoy doing. Those who like engineering can pursue their passion and make a lot of money. They may want to consider applying to some of the schools on these lists.
It is a good thing to have flexibility in today’s job market. So it’s a good idea to look for degrees that will give you the option of different careers. Some job sectors are continuing to show growth, so it is wise to think about these when you decide to go to college. Any degree can improve your job prospects, but if you really want to boost your chances you should think about degrees in these fields:
This field usually has the largest number of students and graduates. It is also worth knowing that many graduates in this field find jobs within a year of graduating from college. Almost every type of company needs people who have skills to help them to be effective. Employers like to hire these individuals because they already have the training to make a business successful. This degree is useful in every industry including manufacturing, design, marketing and healthcare. With these skills you could even go on to start your own business.
The sector of computing and information technology continues to grow and the starting salary for recent graduates is increasing. Almost every industry relies on technology to function properly. Many people with information technology degrees earn large salaries not only as workers, but also as consultants for various companies. Other jobs in this field include IT forensic specialist, software developer, network administrator, programmers and web developer.
People with this degree work in the healthcare sector and use their skills in various parts of the healthcare sector. They are very much in demand and this is demand is expected to grow by 30 percent by 2030 according to the Bureau of Labor Statistics. A medical assistant can work in both the private and public sectors and in different types of healthcare facilities.
Engineers are constantly in demand and according to labor experts, this demand will continue to grow. People with engineering degrees take on roles in management consulting, business managers, patent work, technical work and training and teaching. Engineering graduates usually find jobs quickly after they leave school.
A Physics degree can give you the flexibility to choose a number of different career options. It is a very challenging course, but the majority of students find it highly rewarding. The number of job prospects continues to attract students to this field, and they are in high demand when they graduate. Some of the jobs available to people with Physics degrees are teaching, research scientist and telecommunications. They can also find jobs in the oil and gas industry, space exploration and in the defense industry.
Any new college student should be careful in exploring their courses and career options. Talking to a campus counselor or family members can be helpful in pointing them in the right direction. However, the degrees listed above offer many career options. Other degrees worth looking at that offers more than one career path include Mathematics, Library and information Science and Languages.