Monthly Archives: June 2019

Money Making Majors

Before most college students choose their majors, they want to know what the money making majors are. There are some students who automatically know what they want to major in because they have a passion for a certain field, but then there are others who simply want to make money and a lot of it.

Every quarter the National Association of Colleges and Employers ranks money making majors. This is a great resource for anybody who is looking for an idea of what fields can pay the most. They release a study that is done for every quarter’s graduates to look at what starting salaries are as well as average salaries and what types of jobs the graduates are getting with these salaries.

The thing that you have to remember with money making majors is that the ones that will make you the most money right away may not be the ones that will make you the most money in the long term. There are some jobs that may start out paying higher but then you max out and there is not much room for growth. Then there are other majors that may be quite a bit lower to start out with but there is huge potential for growth and making a nice 6 figure income.

The top money making majors vary each year, but there are certain ones that remain towards the top. One thing to remember is that some of these majors take more than a four year degree to get a job in the field so this must be worked into the equation as well. For instance a teacher may only start out at $35,000 a year and only need a 4 year degree while a physical therapist may start out at $50,000 and require at least 6 years of schooling.

List of Money Making Majors

Here are some majors were you can make the most money in the beginning. These fields of study have been in the top earning brackets for quite some time and don’t appear to be moving anytime soon.

1. Engineering

This includes chemical engineering, electrical engineering, and mechanical engineering. All of these majors have average starting salaries of at least $50,000. These majors are definitely not for slackers though. They require a lot of work and mathematical skills. They are definitely not for anybody who may not like math or have a hard time with it or can’t see themselves working with numbers for the rest of their life.

2. Computer Science

Computers are only getting more and more high tech and more and more people are using them, which makes this an in-demand major that also makes quite a bit of money. Most average starting salaries are right around $50,000. If you love tinkering with computers and would love to work with high tech products like this, then this may be the money making major for you.

3. Accounting

This is another major that requires you to like to work with numbers a lot. There is always going to be a need for accountants and tax professionals as long as we have to pay taxes. A new accountant can make an average salary of approximately $47,000. Remember with this profession you will have a busy season and then times were you may be very bored.

4. Business Administration

There is truthfully so much that you can do with a degree in business administration that the starting salary will range anywhere from $35,000 – $45,000. The thing about this major is that most people who pursue this one are looking more long term at the money. They realize that they may not get a job as a CEO or boss in the beginning but the growth in this field is great. Also, some entrepreneurs take this field of study so that they can start their own business, which can lead to indefinite money making.

You may be wondering why things like doctors and lawyers are not listed here, but as I mentioned you have to look at how many years you have to go to school. You can’t become a doctor or a lawyer with just a bachelor’s degree. The money making majors listed above are for people who have bachelor’s degrees and are getting jobs right out of college, not counting graduate school or law school.

Hopefully this gave you some insight on money making majors that you may be interested in. Remember that you should be picking a field of study were you can see yourself working 40 hours a week for the next 40 years of your life. It may not be all about the money, but instead about doing something that you love.