Parents and students today give much more thought to whether and where their children will pursue higher education after they graduate from high school. That ‘where’ is always accompanied by ‘what should I study. Those with a college degree typically make 80% more money than those with only a high school diploma. A bachelor’s degree program’s average return on investment for graduates is about 65% within ten years. In an intriguing report by Michael Itzkowitz, senior fellow for Third Way, it was demonstrated that, assuming the undergraduate degree program was finished in four years, for some, it may even be possible to recoup those college expenses within five years.
There is a link between a high starting salary and low unemployment rates when bachelor’s degree programs are evaluated for future employability and median income. For instance, the typical annual salary for a graduate with a degree in architectural engineering is $83,000. An entry-level job can be had for as little as $59,000. The unemployment rate for these highly skilled professionals is only 2%, despite the Covid-19 pandemic decimating so many jobs in 2019 and 2020. When selecting a college major with a high return on investment, take into account factors like high income potential and low unemployment.
Sadly, the majority of liberal arts degree programs, including history, sociology, comparative literature, language studies, economics, and psychology, don’t typically rank among the top majors for return on investment, but this shouldn’t deter a student from selecting one of these programs. Such programs provide a wealth of transferrable skills, and graduate degrees could help students specialize in a field in which they are already highly qualified. With a strong liberal arts degree, many students enter top professional schools like law, medicine, and dentistry.
Students should never choose a major solely on the basis of expected earnings; instead, they should follow a true passion that interests and excites them. Instead, prioritize learning as much as you can while in high school and college and achieving your best. By choosing a major based on your true interests, you ensure that your career will be fulfilling. However, many students must take out student loans in order to pay for a bachelor’s degree; as a result, families should carefully consider earning potential and employment rates when determining the amount to borrow.
Comparing an academic interest with real-world and long-term benefits can be difficult, but it should be considered when making decisions. It is always safe to assume that a strong and demanding high school curriculum will give students options and choices in higher education, regardless of the major they decide to pursue there. Work hard in all of your classes, choosing four or more years of each of the core subjects (math, science, foreign language, English, and social studies), and completing your curriculum with electives that interest you. Take the most challenging coursework you can find and try your hardest to succeed. Choice is always a good thing.
Is A College Degree Really The Best Way To Success? Here’s The ROI
Highest-paying jobs for an associate degree
Depending on the field, having an associate’s degree could allow you to earn up to $100,000 annually. Four of the highest-paying positions with the best returns on investment for associate degree holders are listed below:
Diagnostic medical sonographers, also known as ultrasound technicians, use equipment to create internal images of the human body as their main responsibility. Physicians examine these images and make diagnoses of medical conditions. An associate’s degree and one to two years of experience working in the medical field are required for this position.
Air traffic controllers’ main responsibilities include supervising and directing the flow of air traffic, which includes keeping an eye on aircraft in flight and assisting pilots with takeoff and landing maneuvers. To transfer control of departing flights and accept control of arriving flights, they communicate with traffic control centers. Additionally, they regulate and guide ground traffic, such as maintenance workers, security guards, and baggage vehicles, on or near the airport runway.
Primary duties: Radiation therapists provide treatments to cancer patients. They manage the equipment that delivers X-rays into the body to kill cancer cells and carry out treatment regimens. They collaborate closely with patients and their families to deliver customized care while keeping an eye on the patients’ health to make sure there are no adverse effects from the treatment.
A nuclear medicine technician’s main responsibilities include performing nuclear imaging tests under the supervision of a qualified physician. To learn how radioactive materials affect a patient’s tissues and organs, they use imaging technology. They diagnose medical diseases and conditions based on imaging results.
What does ROI mean?
The term “return on investment,” or “ROI,” refers to comparing a financial benefit, such as a yearly income, to the investment that was made to obtain that benefit, such as a student loan. For instance, a medical student who has received $200,000 in student loans that they must repay once they land a job would want to find a position that pays well enough to make the $200,000 in loans worthwhile for a positive return on their degree.
Highest-paying jobs for a bachelor’s degree
Four of the highest-paying positions with the best returns on investment for bachelor’s degree holders are listed below:
Pilots’ main responsibilities include flying and controlling aircraft and carrying people and cargo. To ensure the safety of their passengers, they communicate with air traffic control, and they adhere to flight plans in light of delays and weather A bachelor’s degree in professional flight, aeronautical science, or a closely related field is preferred by most airlines for pilots.
Engineers’ main responsibilities include designing, developing, constructing, and maintaining a wide range of machines and systems. They frequently consult with their clients to uphold their standards, and they typically adhere to a strict timeline and budget for their projects. A bachelor’s degree in engineering or engineering technology is required for engineers.
Marketing managers’ main responsibilities include overseeing organizations’ marketing campaigns and strategies, which may include producing content for a company’s goods or services, keeping an eye on market trends to maximize profits, developing marketing plans, and determining the target market for the company. Employers prefer applicants with a four-year degree in marketing or a closely related subject, such as business, advertising, or communication.
Primary duties: Financial managers maintain the finances for a business. They make financial reports, manage investment activities, and develop financial plans for a company’s financial objectives. Researching financial trends, data analysis, and providing financial opportunities to clients occupy the majority of their time. For this position, employers prefer candidates with a bachelor’s degree in accounting, finance, economics, or business administration.
Highest-paying jobs for a master’s degree
Four of the highest-paying positions with the best returns on investment for master’s degree holders are listed below:
IT managers oversee operations involving computer software and information systems for businesses as their main responsibilities. To maximize productivity and efficiency, they plan and create IT policies, install software updates, assess an organization’s IT requirements, and find improvements for the company computers. Employers prefer IT managers to have a Masters of Business Administration and a Bachelors degree in technology or computer science.
A physician assistant’s main responsibilities include treating and diagnosing patients under the direction of a licensed physician. The responsibilities of the physician assistants include gathering the patient’s medical history, conducting physical examinations, writing prescriptions, and supporting surgeons during procedures. Employers prefer candidates with a bachelor’s degree in a healthcare-related field and a master’s degree from a program for physician assistants.
A nurse practitioner’s main responsibilities include treating patients, prescribing medications, conducting physical examinations, and making diagnoses of illnesses. They typically focus on one particular area of medicine, such as oncology or pediatrics. Employers mandate that nurse practitioners possess a master’s in nursing.
The main responsibilities of a nurse anesthetist are to administer anesthesia to patients in a safe manner. They support doctors who administer anesthesia, including surgeons, dentists, and anesthesiologists A master’s degree in nursing must be obtained from a program that has been approved by the Council on Accreditation of Nurse Anesthesia Educational Programs.
Highest-paying jobs for a doctoral degree
Four of the highest-paying positions with the best returns on investment for doctoral holders are listed below:
A psychiatrist’s main responsibilities are to diagnose and treat patients’ mental illnesses. Based on their examinations, they identify the cause of a patient’s symptoms, provide medication, and identify mental health conditions. A medical degree in psychiatry, which includes undergraduate study, is required for psychiatrists.
Orthodontists’ main responsibilities include identifying and treating dental conditions involving crooked teeth and jaws. They employ a variety of tools and treatment strategies on patients, which may include using braces and making retainers. Orthodontists must possess a dental doctorate and complete a post-doctoral orthodontics-focused program.
General practitioners, also known as doctors or physicians, have the primary responsibility of treating and diagnosing patients with a range of illnesses, injuries, and medical conditions. They frequently offer advice to patients and explain the best course of action. Practitioners specialize in cardiology, surgery, neurology, among other medical fields. To treat patients, practitioners must hold a Doctor of Medicine (MD) degree. An MD can be obtained in between 10 and 14 years, including undergraduate and specialty coursework.
Anesthesiologists are experts at sedating patients with anesthesia so they can undergo surgery in a pain-free environment. Typically, they obtain certification in a variety of medical specialties, such as obstetrics, pediatrics, or pain management. A residency program focused on clinical anesthesia training and an MD are prerequisites for becoming an anesthesiologist.
FAQ
What degrees have the highest ROI?
- Chemical Engineering. New graduates frequently land top-dollar jobs in this lucrative field.
- Marketing. …
- Biology. …
- Petroleum, Mining and Mineral Engineering. …
- Economics.
What degree is best for investing?
- Finance.
- Economics.
- Business administration.
- Computer science.
- Statistics.
- Physics, Engineering, and Applied Mathematics.
What bachelor degree is most in demand?
- Engineering. …
- Business. …
- Nursing. …
- Hospitality. …
- Education. …
- Computer Science. …
- Architecture. …
- Pharmaceutical Sciences.
