It’s no secret that a college degree can lead to higher lifetime earnings. But your major can play a big role in your earning potential. The average starting salary for all college graduates with a bachelor’s degree was $55,260 in 2021, but some majors can earn significantly more.
If you’re still deciding what to study in college, learning about the best college majors in terms of typical salaries can help you narrow down your choices.
10 Highest-Paying Majors in 2023
When thinking about salaries after graduation, the best majors in college tend to be related to science, technology, engineering, and mathematics (STEM).
According to the National Association of Colleges and Employers (NACE) winter 2023 salary survey, the highest-paying majors for college graduates with bachelor’s degrees are all in STEM. While other majors like marketing and business can earn lucrative salaries, workers usually reach those numbers only after working in their fields for several years.
NACE’s report looked at the average starting salaries for entry-level positions; it did not take into account other compensation like bonuses, commissions, or additional benefits. Based on the median projected starting salaries reported in NACE’s analysis, the 10 highest-paying majors are as follows:
1. Petroleum Engineering: $85,000
The highest-paying major is petroleum engineering. On average, graduates with a degree in this major earn $30,000 more than all bachelor’s degree graduates.
Petroleum engineering majors learn about how to find and safely use oil resources. After graduation, you can work in an office or at drilling sites to design and develop methods for extracting oil and gas deposits.
According to the U.S. Bureau of Labor Statistics (BLS), the median salary for all petroleum engineers was $130,850 in 2021.
2. Computer Engineering: $80,000
Computer engineering deals with hardware rather than software. Computer engineering majors learn how to research, design and test computer systems and supporting components.
After graduation, you can work in laboratories or manufacturing facilities to build and test computer hardware. The median salary for computer hardware engineers was $128,170 in 2021, as reported by the BLS.
3. Software Engineering: $80,000
What is a software engineer? At some schools, software engineering is included in a computer science curriculum. More colleges are beginning to offer a specific major in software engineering as the field grows.
Software engineering majors use engineering principles to develop, design, test, and troubleshoot computer software. As a highly specialized field, this major tends to require more hands-on, practical skills than some other computer science majors.
After graduation, a degree in software engineering can lead to a career in software development and quality assurance. The median pay for all software developers was $120,730 in 2021, according to the BLS.
4. Systems Engineering: $78,000
The systems engineering major can encompass building, analyzing, and managing systems. Systems engineering majors can learn to manage electrical, mechanical, or chemical systems.
After graduation, a systems engineer can work in a variety of industries for differing employers, from military divisions to for-profit corporations.
The median salary depends on the area you specialize in, but ranges from $95,300 for industrial engineers, according to the BLS, to $105,550 for chemical engineers, also as reported by the BLS.
5. Nuclear Engineering: $76,000
Nuclear engineering majors study how nuclear power can generate carbon-free electricity, which can be used to create radiation and radioactive materials. Students in a nuclear engineering major study advanced computational techniques, strategies for recycling and managing nuclear fuel, and the development of new reactor and radiation shielding designs.
Some nuclear engineering programs allow students to concentrate on a particular area of the field. Potential concentrations include nuclear power generation, nuclear waste management, space nuclear power, and thermal hydraulics.
The BLS reports that nuclear engineers made a median annual salary of $120,380 as of 2021.
6. Aerospace/Aeronautical Engineering: $75,500
An aerospace and aeronautical engineering major teaches students to design, manufacture and maintain aircraft and aerospace vehicles. On-campus classes take place in engineering labs, and students can expect to tackle research projects while completing their degree program.
Students in aerospace and aeronautical engineering programs learn engineering principles practiced in the real world by government organizations and major companies.
Manufacturers and government agencies employ aerospace and aeronautical engineers. As of 2021, the median pay for aerospace engineers was $122,270, as per the BLS.
7. Chemical Engineering: $75,000
Chemical engineering majors learn the principles of chemistry, biology, physics, and math. They can use that knowledge to launch careers with pharmaceutical companies, food production companies, refineries, and other industries.
Students in a chemical engineering major learn to develop, design, and operate chemical processes and products. Graduates with a bachelor’s in chemical engineering often go on to earn master’s degrees in the field.
The BLS reports that the median salary for chemical engineers was $105,550 in 2021.
8. Electrical Engineering: $75,000
While electrical engineering is often offered as a specialty within an engineering or systems engineering major, some schools offer it as a standalone major. As an electrical engineering major, you’ll build a foundational knowledge of physical sciences, technology, and engineering.
Electrical engineering majors can get jobs with government agencies or in the corporate sector. As an electrical engineer, you can expect to design, develop and maintain electrical equipment, including power or utility systems.
The median salary for electrical and electronics engineers was $101,780 in 2021, according to the BLS.
9. Engineering Technology: $75,000
In an engineering technology major, students learn to apply various engineering techniques in real-world scenarios. The engineering technology major tends to be hands-on.
Engineering technology majors may learn about how to research the implementation and capabilities of different technologies. Students in this major might explore tracking technology in areas like defense and space exploration.
Engineering technology graduates go on to pursue a variety of technologist and technician jobs. The median annual salaries for different engineering technologist and technician roles are as follows:
- Mechanical Engineering Technologists and Technicians: $60,460 (BLS)
- Civil Engineering Technologists and Technicians: $58,320 (BLS)
- Electrical and Electronic Engineering Technologists and Technicians: $63,640 (BLS)
10. Environmental Engineering: $75,000
Environmental engineering majors learn how to design sustainable solutions to the environmental issues facing society. This major involves chemistry, soil science, physics, and biology, along with the study of certain social sciences.
Environmental engineers are seeing increased demand as the threat of climate change intensifies. These engineers are responsible for infrastructure and processes that supply society with clean air and water, among other critical resources.
According to the BLS, environmental engineers earn a median annual salary of $96,820.
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