Planning for the Highest Paying Degrees
Does it really pay to get a degree? Does college really pay off when it comes to trying out the job market? Well, things do work out rather predictably here. Even in this difficult job market, many of the highest-paid jobs go to applicants who come in with the right college degrees. The average salary a fresh graduate with the right degree makes now is about $48,000 per year.
But before you go beg, borrow or steal to make tuition, you do need to take a close look at the kind of prospects your specific degree come with. Here is some information to help you get started picking a degree that pays well.
At the very top of the list are degrees in engineering, computers, economics and finance. Basically if you’re keen on a well-paying job, the highest paying degrees you need all require you to handle advanced math. The best-paying jobs happen to be in chemical engineering, electrical engineering, petroleum engineering, computer engineering – you get the picture.
What this tells you is that a business school degree isn’t the best-paying way to go forward. In fact, it’s possibly at the bottom. An MBA basically fetches you perhaps the 70th highest salary there is. Who makes more money than an MBA, you ask? How about graduates with some of the lowest-paying degrees– literature, philosophy, linguistics and so on.
Would you be surprised to know that the highest-paying degrees are also available rather cheaply online? You even get your pick of online schools from other countries, say in Europe.
In general, a bachelor’s degree at a public school will cost you $80,000 and a master’s degree, $100,000. At a private school, you pay roughly 25% more. Basically, if you want to do well in life, the highest paying degrees are the ones with math. Take as many math courses as possible, and you’ll find better opportunities just coming your way.
There is something you need to be aware of. The wealthier the industry you prepare yourself for, the more you stand to make. For instance, it’s clear that the petroleum industry is awash with money. For this reason, they worry a lot less about paying high salaries. The chemical industry on the other hand is in the same position. While you could get a very good salary here with a bachelor’s degree in chemistry (around $75,000 a year) it isn’t the same thing as the petroleum industry (unless you use your degree in chemistry to work in the petroleum industry).