Inflation, rising gas prices, and higher property taxes are placing burdens on American families. Those of you who are looking at an upcoming college bill are concerned about how to get the most for your money with the best return on your investment and the best earning potential.

The college education is a major purchase for families and as tuition rises, more and more students are vying for financial aid. It stands to reason that parents want to make sure their student is getting a degree in a field that will support them after graduation.

Payscale’s College Salary Report can help you and your student when you are researching colleges. The report is based on a comprehensive database. In 2022, their rankings come from the alumni salary data of 3.5 million respondents, representing more than 4,000 colleges and universities across the U.S. 

The data presented will help you research schools, majors and careers. You can use this information to help you discover which fields of study offer the most income potential, as well which are most transferable to different career paths.

The report ranks bachelor degrees and associate degrees, giving you a chance to evaluate which degree path is best for your student. You can view career pay for early in your career and at mid-career. You can also research the rankings by state for both degree paths. You can also view the highest paying jobs with both these degrees. You can view the best schools for specific majors and the common jobs for majors as well. 

Why put emphasis on earning potential?

So many students enter college without a plan. While it’s certainly difficult at the age of 18 to know what major you want to pursue, it’s also important to research colleges based on your interests. Your student may already know what they want to study, however. If that’s the case, looking at a college’s salary report can help you determine if the education they receive is a good investment.

Is college solely about the ROI?

Your student probably isn’t concerned about the return on investment. But you are. They are interested in what the college has to offer them and will often overlook future earning potential. A good balance between a financial fit, a social fit, and and academic fit will help you and your student make the right choice. 

Ignoring the financial aspect of the education could be a grave error. Your student could graduate with a degree offering little or no earning potential.