With college costs rising, along with student debt, it’s more important than ever for parents and students to look carefully at college ROI (return on investment) when creating the college list. Payscale recognizes the importance of choosing a college major that will be a good return on investment and has released their 2015 College Salary Report.
Following are just a few of the categories covered in the data:
Majors That Pay You Back (Associate and Bachelor’s Degrees)
When somebody tells you they are headed to a college or university, whether it’s for an associate degree, bachelor’s degree, master’s degree, MBA or PhD, the first question out of everybody’s mouth is “Where are you going to school?” In reality though, the choice of major can have a much bigger impact on your future earnings than the school you attend. PayScale ranks the top college majors by salary to help you figure out how much you can earn after graduation.
Most Recommended Majors (by alumni)
What makes graduates recommend their major to students trying to pick a major today? One look at this list of most recommended majors shows us that the majors that people rave about are the ones that allow them to easily find a job in their intended field. It’s not necessarily how much money a person makes, but the likelihood that they can find work doing what they want to do.
Best schools for particular majors (by earning potential)
Choosing a college and deciding to get a degree are big decisions, so do your homework and choose the degree and school that will set you up for the career of your dreams. PayScale’s 2015 College Salary Report ranks undergraduate and 2-year colleges by the highest earning graduates.
Common jobs for particular majors
Choosing a college and deciding to get a degree are big decisions, so do your homework and choose the degree and school that will set you up for the career of your dreams. PayScale’s 2015 College Salary Report ranks undergraduate and 2-year colleges by the highest earning graduates.
College Comparison Tool (compare up to 5 colleges side by side)
Trying to decide which college or university to attend? PayScale has alumni salary data about more than 1,000 schools. Select up to five schools and see how they compare based on earning potential and more.
When it comes to choosing a career and picking a college major that will help you achieve your goals, money isn’t everything. Job meaning counts for a lot too. That’s why PayScale asks everybody who takes our survey if they feel like their job makes the world a better place. This list ranks 207 college majors by the percentage of graduates in each major who answer that question with a resounding “yes.”
Here’s an article published in Money Magazine, “Choosing a College Major by Age 16 Pays Off”, proposing that students should think about choosing a major early to avoid spending more for the college education than necessary.
A college choices isn’t all about the money, but it should certainly factor into such a large financial investment. Parents and students should do their homework, just as they would if purchasing any other big ticket item.