Most Lucrative college degrees
It’s college acceptance and graduation season, which means parents and students alike are asking the perennial question: What’s the most lucrative major? According to the January 2014 Salary Survey from the National Association of Colleges and Employers, the final overall average starting salary for Class of 2013 bachelor’s degree graduates increased 2.6 percent to $45,633 from the results of the Class of 2012. The most lucrative degree is engineering, engineering and engineering! Figure 1: Top-Paid Majors for Class of 2013 Bachelor’s Degree Graduates
| Major | Average Starting Salary |
| Petroleum Engineering | $97,000 |
| Computer Engineering | $70,900 |
| Chemical Engineering | $67,500 |
| Computer Science | $64,700 |
| Aerospace/Aeronautical/Astronautical Engineering | $64,500 |
| Mechanical Engineering | $64,500 |
| Electrical/Electronics and Communications Engineering | $63,000 |
| Engineering Technology | $61,500 |
| Management Information Systems/Business | $60,700 |
| Logistics/Materials Management | $59,800 |
Perhaps you are wondering what your kid should do if he or she has no aptitude for, or interest in, engineering. Well, there's always computer science, management information systems/business, and logistics/materials management, which were the non-engineering majors whose average starting salaries were among the highest for Class of 2013 bachelor’s degree graduates.
Figure 1: Average Salaries by Discipline
| Broad Category | 2013 Average Salary | 2012 Average Salary | Percent Change |
| Business | $55,144 | $53,900 | 2.3% |
| Communications | $44,552 | $43,717 | 1.9% |
| Computer Science | $59,084 | $59,221 | -0.2% |
| Education | $40,590 | $40,668 | -0.2% |
| Engineering | $62,564 | $62,655 | -0.1% |
| Humanities & Social Sciences | $38,045 | $36,988 | 2.9% |
| Math & Sciences | $42,956 | $42,471 | 1.1% |
| Overall | $45,633 | $44,482 | 2.6% |
Source: January 2014 Salary Survey, National Association of Colleges and Employers
Pity the poor liberal arts major! It seems like people like me, who loved taking English and political science classes, are doomed! Before you get too depressed, there is still ample opportunity for liberal arts majors to land a good job, but they may need to set their sights a little lower. As a group, liberal arts graduates received starting salaries that averaged $38,045 and among the top employers for 2013 liberal arts graduates were those in healthcare and social assistance (counselors, and human resources and social workers); professional, scientific, and technical services (market research analysts, marketing specialists, paralegals, and legal assistants); and information (artists, writers, authors, and editors).
Figure 1: Top-Hiring Industries for Class of 2013 Bachelor’s Degree Graduates
| Industry | 2013 Average Salary |
| Educational services | $40,302 |
| Professional, scientific, and technical services | $49,154 |
| Healthcare and social assistance | $43,335 |
| Federal, state, and local government | $47,123 |
| Manufacturing | $55,020 |
| Finance and insurance | $54,660 |
| Information | $42,763 |
| Management of companies and enterprises | $57,891 |
| Wholesale trade | $53,691 |
| Other services (except federal, state, and local government) | $34,071 |
Source: January 2014 Salary Survey, National Association of Colleges and Employers
So here’s the deal, with nearly $1.2 trillion in total student loans outstanding, its clear that many students will have to borrow money to earn these degrees. The key is to keep total student loan borrowing levels at or below those first year salaries, so that recent graduates don’t drown under the weight of repayments. That may mean foregoing an expensive school or working harder at finding grants and scholarships.