Washington D.C. - Georgetown University’s Center on Education and the Workforce released a study last week that shows that students who major in health, STEM — science, technology, engineering and mathematics — and business fields end up with higher average annual wages at the entry level and over the course of a person’s career. The lowest-paying majors were in the arts, liberal arts and humanities. The study used United States Census data to examine the wages for 137 college majors to identify the most economically beneficial undergraduate areas of study.
The report indicated that major is a main determining factor for income level. The study revealed that 80 percent of college students study a major linked to careers, while 20 percent major in the humanities and liberal arts. Senior analyst for the Center on Education and the Workforce Andrew Hanson, who co-led the study, wrote that the study aimed to investigate the variation of future earnings between majors. One of the purposes of the study, he emphasized, was to assist students and advisors in their academic decision-making and navigating their school curricula.
According to the report, the top-paying college majors earn $3.4 million more than the lowest-paying majors over a lifetime.
“People have to internally decide what their currency for success is,” theater professor Dan Kotlowitz said in response to the study. Their currency could either be earning large sums of money or enjoying the other satisfactions of life, he said. As an artist, he said that he believes that although economic value is important, students should not prioritize it over other values.
According to the report, the top-paying college majors earn $3.4 million more than the lowest-paying majors over a lifetime.
“People have to internally decide what their currency for success is,” theater professor Dan Kotlowitz said in response to the study. Their currency could either be earning large sums of money or enjoying the other satisfactions of life, he said. As an artist, he said that he believes that although economic value is important, students should not prioritize it over other values.
