- STEM majors continue to be the most lucrative, with certain fields of study commanding six-figure salaries even for two-year degrees.
- MIT tops the list for maximizing earnings for a bachelor’s degree, while the Helene Fuld College of Nursing offers the highest income for associate degree holders.
- While graduates with certain degrees in mental and physical health may not always earn the highest salaries, they find the greatest personal meaning in their work.
SEATTLE, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Today, Payscale Inc., the leading provider of compensation data, software and services, released its 2024 College Salary Report. The report ranks the top schools and majors based on mid-career salary potential, in an effort to help college-bound students make informed decisions about their education and future careers.
“There’s no doubt that higher education is unaffordable, and employers are increasingly valuing alternative ways to gain skills, but the fact remains that a college degree significantly impacts earning power. Our research shows that college graduates earn 37% more than those with only a high school diploma,” said Amy Stewart, Principal, Research & Insights at Payscale. “Choosing a school or major with strong income potential could cut your student loan repayment time in half, so it’s crucial to consider all your options — particularly for those who are on the fence about the value of a formal education.”
Top Bachelor’s Degree Schools: Graduates with a four-year degree from these Ivy League schools, elite technical universities, and military academies consistently achieve the highest mid-career median salaries.
- Massachusetts Institute of Technology: $196,900
- Princeton University: $194,100
- United States Naval Academy: $187,800
- Harvey Mudd College: $185,900
- Babson College: $181,400
Top Associate Degree Schools: Two-year institutions with strong reputations and a specialized focus in nursing and healthcare command the highest incomes for alumni.
- Helene Fuld College of Nursing: $108,400
- Laboure College: $103,200
- Pacific Union College: $100,900
- New York University: $98,100
- Lawrence Memorial Hospital School of Nursing: $97,700
Highest-Earning Bachelor’s Degrees: STEM degrees (science, technology, engineering, and math) remain the most financially rewarding for four-year degree holders.
- Petroleum Engineering: $212,100
- Operations Research & Industrial Engineering: $202,600
- Electrical Engineering & Computer Science: $192,300
- Interaction Design: $178,800
- Building Science: $172,400
Highest-Earning Associate Degrees: For those pursuing a two-year degree, these STEM-related majors offer the potential to earn six figures.
- Instrumentation Technology: $116,300
- Software Engineering: $112,400
- Radiation Therapy: $109,500
- Fire Technology: $102,500
- Instrumentation & Control Engineering $101,900
Most Meaningful Majors: Nine out of 10 graduates with these degrees believe the work they do makes a positive impact on the world, giving them a sense of purpose despite some earning moderate salaries.
- Music Therapy: 95%
- Cardiopulmonary Science: 92%
- Radiation Therapy: 91%
- Alcohol & Drug Studies: 90%
- Cardiovascular Technology: 89%
Payscale’s College Salary Report rankings come from the alumni salary data of 3.1 million degree-holding workers who completed Payscale’s free online salary survey, with more than 2,400 colleges and universities across the U.S. represented.
Prospective college students and parents can explore the full, free report, which includes lists of best schools by major, best schools by state, best schools by type, and common jobs by majors, at Payscale.com/college-salary-report.
About Payscale
As the industry leader in compensation management, Payscale is on a mission to help job seekers, employees, and businesses get pay right and to make sustainable fair pay a reality. Empowering more than 65% of the Fortune 500, Payscale provides a combination of diverse and dynamic data sources, experienced compensation services, and scalable software to enable organizations such as Angel City Football Club, Panasonic, Mars Global, eBay, American Airlines and PetSmart to make fair and appropriate pay decisions.
Pay is powerful. To learn more, visit www.payscale.com.
Contact: Press@Payscale.com
