Find out whar are the top 10 highest-paying college majors, according to a report by Payscale!
A college degree can boost your earnings by a significant margin, with college graduates earning 37% more on average than those with just a high school diploma, according to a Payscale report. However, as tuition costs continue to rise, it’s crucial to carefully weigh your major and future potential earning before taking out student loans for college. To help with that, Payscale evaluated the financial returns of different majors, considering both starting salaries and median earnings later in your career, and selected the highest-paying college majors.
“The fact remains that a college degree significantly impacts earning power. 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”, said Amy Stewart, Payscale’s principal of research and insights.
Top 10 Highest-Paying College Majors
Students who major in science, technology, engineering, or math (STEM) are projected to earn the most overall, according to Payscale’s college salary report. For the second consecutive year, Petroleum Engineering ranks as the highest-paying bachelor’s degree in 2024. Graduates in this field start with high salaries and can earn more than $200,000 after 10 or more years of experience.
Other top-earning majors include Operations Research & Industrial Engineering and Electrical Engineering & Computer Science. These fields offer strong starting salaries – over $100,000 – but have slightly lower mid-career earnings compared to Petroleum Engineering. The findings in Payscale’s report are based on salary data from 3.1 million alumni across the U.S.
Bachelor’s Degree
| Rank | Major | Degree Type | Early Career Pay | Mid-Career Pay | % High Meaning |
|---|---|---|---|---|---|
| 1 | Petroleum Engineering | Bachelors | $98,100 | $212,100 | 60% |
| 2 | Operations Research & Industrial Engineering | Bachelors | $101,200 | $202,600 | 21% |
| 3 | Electrical Engineering & Computer Science (EECS) | Bachelors | $128,500 | $192,300 | 45% |
| 4 | Interaction Design | Bachelors | $77,400 | $178,800 | 55% |
| 5 | Building Science | Bachelors | $71,100 | $172,400 | 46% |
| 6 | Applied Economics and Management | Bachelors | $81,200 | $169,300 | 47% |
| 7 | Actuarial Mathematics | Bachelors | $71,200 | $167,500 | 48% |
| 8 | Optical Science & Engineering | Bachelors | $81,500 | $166,400 | 73% |
| 9 | Quantitative Economics | Bachelors | $78,400 | $165,100 | 43% |
| 10 | Operations Research | Bachelors | $94,900 | $164,900 | 56% |
Associate Degree (2-Year Degree)
| Rank | Major | Degree Type | Early Career Pay | Mid-Career Pay | % High Meaning |
|---|---|---|---|---|---|
| 1 | Instrumentation Technology | Associates | $55,300 | $116,300 | – |
| 2 | Software Engineering | Associates | $67,200 | $112,400 | 37% |
| 3 | Radiation Therapy | Associates | $75,200 | $109,500 | 91% |
| 4 | Fire Technology | Associates | $50,600 | $102,500 | 83% |
| 5 | Instrumentation & Control Engineering | Associates | $63,300 | $101,900 | 51% |
| 6 | Instrumentation & Control | Associates | $68,300 | $96,500 | 60% |
| 7 | Project Management | Associates | $57,600 | $96,100 | 57% |
| 8 | Network Engineering | Associates | $60,200 | $95,500 | 46% |
| 9 | Management Information Systems (MIS) | Associates | $53,900 | $95,000 | 51% |
| 10 | Aviation | Associates | $48,300 | $93,800 | – |