The Top-Paying Majors
Based on data from the National Association of Colleges and Employers (NACE) and PayScale's 2024 College Salary Report, certain majors consistently offer higher starting salaries and better long-term earning potential.
Highest-Paying College Majors (Starting Salaries)
| Rank | Major | Starting Salary | Mid-Career Salary | % Increase |
|---|---|---|---|---|
| 1 | Petroleum Engineering | $87,989 | $175,500 | 99% |
| 2 | Computer Engineering | $85,996 | $149,000 | 73% |
| 3 | Chemical Engineering | $82,693 | $147,000 | 78% |
| 4 | Electrical Engineering | $81,723 | $143,000 | 75% |
| 5 | Nuclear Engineering | $81,258 | $141,000 | 74% |
| 6 | Software Engineering | $79,500 | $139,000 | 75% |
| 7 | Aerospace Engineering | $78,821 | $138,000 | 75% |
| 8 | Computer Science | $78,603 | $137,000 | 74% |
| 9 | Mechanical Engineering | $77,087 | $135,000 | 75% |
| 10 | Industrial Engineering | $75,573 | $132,000 | 75% |
Data from NACE First-Destination Survey and PayScale 2024 Report
Engineering Dominance
Engineering majors occupy 8 of the top 10 highest-paying positions, reflecting strong demand for technical skills in the modern economy.
Beyond Engineering: Other High-Paying Fields
While engineering dominates the top tier, several other fields offer competitive salaries and strong career prospects.
High-Paying Non-Engineering Majors
| Major | Starting Salary | Mid-Career Salary | Job Growth Outlook |
|---|---|---|---|
| Finance | $65,239 | $125,000 | 8% (Faster than average) |
| Economics | $64,375 | $122,000 | 6% (Faster than average) |
| Mathematics | $62,890 | $118,000 | 28% (Much faster than average) |
| Statistics | $62,142 | $117,000 | 31% (Much faster than average) |
| Accounting | $59,668 | $108,000 | 4% (As fast as average) |
| Business Administration | $57,720 | $105,000 | 5% (Faster than average) |
| Marketing | $54,500 | $98,000 | 6% (Faster than average) |
Bureau of Labor Statistics and industry salary surveys
The Liberal Arts Reality
Liberal arts majors often face lower starting salaries but can achieve competitive long-term earnings, particularly in leadership roles.
Liberal Arts Perspective
While liberal arts majors start with lower salaries, they often develop versatile skills that lead to leadership positions and entrepreneurial success over time.
Liberal Arts Major Salary Progression
| Major | Starting Salary | Mid-Career Salary | % with Advanced Degrees |
|---|---|---|---|
| Political Science | $47,049 | $95,000 | 67% |
| English | $44,821 | $88,000 | 58% |
| History | $44,507 | $87,000 | 61% |
| Psychology | $43,514 | $85,000 | 73% |
| Sociology | $42,433 | $82,000 | 65% |
| Philosophy | $47,395 | $95,000 | 69% |
Many liberal arts graduates pursue advanced degrees, boosting long-term earnings
Geographic Variations
Salary levels vary significantly by geographic location, with major metropolitan areas typically offering higher compensation.
Highest-Paying Metro Areas for New Graduates
- **San Francisco Bay Area:** +35% above national average
- **New York City:** +28% above national average
- **Seattle:** +25% above national average
- **Boston:** +22% above national average
- **Washington, D.C.:** +20% above national average
- **Los Angeles:** +18% above national average
"Students need to consider both starting salary and long-term growth potential. Some majors with modest starting salaries offer excellent advancement opportunities."
— Andrea Koncz, Research Manager at National Association of Colleges and Employers
Industry Demand Factors
Several factors drive the high salaries in certain majors, including technological advancement, skills shortages, and economic trends.
Factors Driving High Salaries
- **Skills shortage:** High demand for technical and analytical skills
- **Digital transformation:** Companies investing heavily in technology
- **Specialized knowledge:** Complex fields requiring extensive training
- **Economic impact:** Roles directly tied to revenue generation
- **Regulatory requirements:** Fields requiring specific certifications or compliance
Considerations Beyond Salary
While salary is important, students should consider other factors when choosing a major, including job satisfaction, work-life balance, and personal interests.
Career Satisfaction
Studies show that job satisfaction correlates more strongly with long-term career success than starting salary alone. Passion and aptitude matter significantly.
Factors to Consider When Choosing a Major
- Personal interests and aptitudes
- Long-term career goals and growth potential
- Work-life balance in the chosen field
- Job market stability and future demand
- Required education level and ongoing training
- Geographic flexibility and location preferences
Future Outlook
Emerging fields like artificial intelligence, cybersecurity, and renewable energy are creating new high-paying opportunities that may not be reflected in traditional major categories.