1/1/2024 0 Comments Highest paying stem jobsAbout two-thirds of STEM bachelor’s degrees are awarded to men, and more than 60 percent of students pursuing STEM degrees identify as white. In addition, women and racial minorities are underrepresented in some of the highest paying fields, suggesting that major might be a contributing factor to longer-term gender/racial gaps in earnings. Interestingly, some of the highest paying majors (mostly in business and engineering) have not increased in popularity much over the years. So that’s something to keep in mind when picking a major,” explained Michael Steinitz, the Global Executive Director of Accountemps, a division of Robert Half. “Those candidates who have highly specialized skills, such as in finance, accounting or technology, are likely going to command higher starting salaries. A student’s choice of major can have a significant long-term effect on earning potential. Science, technology, engineering, and math (STEM) fields accounted for just under 20 percent of all majors.ĭespite the overall positive economic effects of higher education, not all fields of study are equal. The most popular majors were associated with business (381,000 degrees), health professions (238,000 degrees), social sciences and history (159,000 degrees), psychology (117,000 degrees), biological and biomedical sciences (117,000 degrees), and engineering (116,000 degrees). In the 2016–17 academic year, colleges awarded a record 1.96 million bachelor's degrees. Similarly, those with a bachelor’s degree or above have unemployment rates under 2.5 percent, while those who only received a high school diploma have an unemployment rate of 4.6 percent. Graduate-level degrees have even higher earning potential, with professional degrees such as MBAs, JDs, and MDs being the most lucrative. Full-time workers with a bachelor’s degree have a median annual salary of $60,996, while high school graduates that didn’t go to college earn $37,024 per year. ĭata from the Bureau of Labor Statistics supports this, showing that higher educational attainment corresponds with higher earnings and lower unemployment. “While every student may consider his or her situation independently by taking into account student debt and other financial constraints, the tight labor market offers a positive outlook for recent graduates no matter what major they have chosen to pursue,” explained a spokesperson for job search website CareerBuilder. The good news is that a college degree, whether it's in Math, Statistics or Physics does lead to better economic outcomes. But rising college tuition and increasing student loan debt to foot the bill are starting to raise the question of whether or not a college education is worth it. Of the fastest-growing STEM occupations, here are seven that pay over $100,000, according to the U.S.With almost 20 million students enrolled in postsecondary education, getting a bachelor’s degree has become a rite of passage for many young professionals before going into the workforce. STEM jobs overall account for 5.9% of the fastest-growing occupations in the United States. Information security jobs top the list of fastest-growing STEM jobs for the second year in a row. The study compared data across 74 professions. SmartAsset analyzed historic employment growth between 20 and projected employment growth from 2021 to 2031 to identify and rank the country's fastest-growing STEM occupations. More of a need to protect electronic data calls for more computer and STEM-related occupations. In a society increasingly developing and depending on digital technologies, from online shopping and social media platforms to artificial intelligence, robotics and machine learning, the risk of electronic breaches is on the rise. Department of Labor Beyond the Numbers report finds. Computer occupations are projected to be in demand over the next decade because of growth in the American digital economy, a U.S. Growth in the American STEM industry is attributed mainly to the country's growing computer industry.
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