Sunday, June 12, 2011

What's the best earning college degree

Georgetown University's Center on Education and the Workforce released a study of the earning's power of different college degrees. The study called "What's it worth ? The economic value of College Majors," demonstrate how critical the choice of a college major is linked to median earnings.

The authors find that for every major, college has a positive return, even when factoring in college costs and lost earnings. [Note: The EBE disputes this claim. We believes that certain majors, such as Education, at expensive private colleges are are "underwater" and currently do not have a positive return].

Second, the report notes that what subject you major in has a large impact on future earnings. For example, at the median wage, an Engineering Major's can earn $1,090,000 over their lifetime versus $241,000 for Education Major. That is a difference of $849,000 dollars or 450% more.

Second, they find that the lifetime earnings gap at the median wage levels a in every college major

The report analyzes 171 majors in 15 categories. The report finds that majors are highly segregated by race, ethnicity and gender. Men are concentrated in the highest paying majors and women in the lowest paying majors.

Here is a graph of the highest earning college fields of study(Majors)

And here are the lowest earning fields of study(Majors)


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