Right now, students in the US have a lot up in the air.
Many are unsure if their college will reopen in the fall, if it's safe to go back, which classes will be online, etc. College students are living amid a prolonged recession, with the coronavirus pandemic sending the unemployment rate to a high 13.5%. Young people are worried about their job prospects. That's on top of the stresses students normally face, like trying to decide which major to choose.
While time will only tell with regards to the many questions students face, helpful information about the value of different college degrees is out there. And it could help you make a decision about what path to pursue. After all, the average tuition of one year of private four-year college is over $36,000, and one year at a public four-year in-state college is over $10,000, according to The College Board. You want your education to be worth it.
Consumer financials company Bankrate.com compiled a list of the most lucrative options. And while money alone shouldn't be your deciding factor, knowing your potential earning power is helpful information to have.
Using 2017 US Census Bureau American Community Survey data obtained through the University of Minnesota research's program, Bankrate.com analysts looked at majors with at least 15,000 people, low unemployment rates, a high median income, and the need for an advanced degree. The three factors were then weighted to come up with the ranking of the most profitable majors. The last of those three weighted factors — whether someone holds an advanced degree — was treated as a slight knock in rankings, because a person had to spend extra money and time obtaining an advanced degree to get the salary they have.
Here are the 10 most valuable college degrees, ranked in order of profitability.
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