Top 20 Highest Paying Majors in 2023, Ranked - Going Merry (2023)

Earning a bachelor's degree can ensure a financially rewarding future career. Degree holders earn on average$1.2 million morein their professional career compared to their peers with only a high school diploma. But not all majors are created equal—especially in a changing job market.

When preparing to declare your field of study, carefully consider your specialization. Ask yourself important questions. For example, what are you passionate about? is your universityknown for a certain direction? And of course, how important is future earning potential?

Especially if you aretaking student loansto afford a degree, finding a well-paying job after college may be important. And while the performing arts can be of great interest, earning a degree in nuclear engineering will help pay off your student loans faster. Regardless of your financial situation, we've put together a ranking of the best-paying university courses to add more data to your decision.

20 bestUniversity majorsztop salaries

According toa study conducted by the Federal Reserve Bank of New York, most of the highest paying fields of study are STEM fields. This study examined the average salaries of workers starting their careers to those who have been in the field for twenty or more years. In addition to these data, they also analyzed the percentage of people with higher education who are unemployed. So not only are these majors on the higher end of the pay scale, they're also stable. (PS Looking for STEM scholarships?Start here.)

1.chemical engineering

Engineering degrees are a common theme on this list. Engineering involves the practical application of mathematics and science, mainly physics, to solve everyday problems.chemical engineeringis a subset with a heavy emphasis on chemistry. This course is consistently one of thethe highest paid. Chemical engineering students learn to create new technologies involving chemicals, drugs, and other products. Usually chemical engineering majorsApply for a jobas chemical engineers and work in fields such as technology, biotechnology and business.

• Average starting salary: $75,000
• Average mid-career salary: $120,000

2.computer engineering

Cause offurther boomin the technology industry, computer engineering ranks second in terms of profitability. Combining computer science and electrical engineering, computer engineering teaches students to understand, build and innovatehardwareand software. Graduates find work as computer engineers, hardware or software developers. Computer engineers can also work as data scientists, which is one of the fastest growing careersaccording to the Bureau of Labor Statistics.

• Average starting salary: $74,000
• Average mid-career salary: $114,000

3.Aeronautical engineering

If you were a fan of "Top Gun: Maverick," check out aerospace engineering. Aeronautical engineers design and develop the technology and systems behind airplanes, spacecraft, and other aerial objects.Aeronautical engineersthey work where those products are developed and improved, whether it's aerospace companies, NASA or defense companies.

• Average starting salary: $72,000
• Average mid-career salary: $112,000

4.Electrical engineering

Electrical engineering students take a crash course in practical science with a special emphasis on electricity. in the workforce,electrical engineersdesign, develop and supervise the creation of electronic products. In our increasingly technological world, it can be anything from a computer to a car. If you're interested in manufacturing, telecommunications, or transportation, electrical engineering could be a foray into any of these fields.

• Average starting salary: $72,000
• Median mid-career salary: $109,000

5.Information Technology

What is the difference between computer engineering and computer science? Thethe answer is nuanced. One difference is that computer engineering focuses more on hardware, while computer science deals with theory and software. But there is a lot of overlap. If you like solving problems with technology,Information Technologymay be suitable for you. Students attend classes in programming, data analysis, web design and mathematics. Many computer science majors go on to graduate degrees or work as software developers or data scientists. At the peak of their career, the best employees earn annual salaries of approxabout 300,000 dollars.

• Average starting salary: $73,000
• Average mid-career salary: $105,000

6.Mechanical engineering

Mechanical engineering is one of the oldest subsets of engineering and has diverse applications. Mechanical engineers are involved in creating the physical things we use every day. This study program covers materials science, motion, thermodynamics and includes a lot of laboratory work. Mechanical engineers are in high demand in companies wherephysical products are developed. Typical industries include automotive, energy, home appliances, robotics, technology and transportation.

• Average starting salary: $70,000
• Average mid-career salary: $105,000

7.Low-rise construction

No matter who you are, you have benefited at some pointthe work of civil engineers. Civil engineering is a concentration that includes designing and maintaining the infrastructure of the physical world around us. While they existsubsets of civil engineeringCivil engineers may be involved in the design, construction and maintenance of things such as roads, bridges, dams, canals, sewage systems, railways and other public places.

• Average starting salary: $65,000
• Average mid-career salary: $100,000

8.Industrial engineering

Students interested in efficiency should study industrial engineering. This specialization focuses on the development and improvement of systems that integrate workers, machines and technology. Industrial engineering combines engineering concepts with the social sciences to think outside the box. Industrial engineers can use their skills to work on product improvement as quality engineers or in a field such as business consulting to optimize workforce functionality.

• Average starting salary: $70,000
• Average mid-career salary: $100,000

9. Economy

You thought the economy revolved around money? Think again. Economics is a broad field of social science that combines mathematics and history to study how goods are consumed. Students studying economics will explore the history of markets, current events, and the impact of these forces on the global economy. If you like to read the news and even try to predict the future, check out the economics section. Future economists typically find entry-level jobs as financial analysts, investment banking analysts, or accountants.

• Average starting salary: $60,000
• Average mid-career salary: $100,000

10. Construction services

A Diploma in Building Services goes far beyond manual work on a construction site. This major covers architecture, structural engineering, accounting, people management and quality control. Graduates of this course go on to work in construction or real estate companies as project managers, general contractors or project cost estimators.

• Average starting salary: $60,000
• Average mid-career salary: $100,000

11. Pharmacy

If you're interested in medicine, but not the idea of ​​seeing patients, pharmacy might be for you. Idegree in pharmacycombines biology, chemistry and human physiology. Students learn about substances and their interactions with the human body and participate in the development of new pharmaceutical drugs. Upon graduation, students can work as pharmaceutical technicians or engage in research and development.

• Average starting salary: $55,000
• Average mid-career salary: $100,000

12. Finances

As in economics, there is more to finance than meets the eye. Finance includes the study of economics, banking and commerce. Finance majors learn how to invest in public markets (stock market) and private markets (venture capital, etc.). Graduates with a degree in finance typically enter the industry as financial analysts or investment banking analysts. Finance is an area where the sky is the limit for your earning potential. At the extreme end of the spectrum, some fund managers make moneyhundreds of millions of dollarsevery year.

• Average starting salary: $60,000
• Average mid-career salary: $100,000

13.Business administration

Business administration can be a broad field of study for students interested in finance, marketing and economics. A business degree is an opportunity to improve practical business skills. Students learn about market trends and economics while studying great companies. After graduation, business administration majors have a high degree of flexibility. Win an entry-level position at a Fortune 500 company or move into advisory or investment banking. Again, top business leaders tend to have exorbitant annual salariesfor the amount of millions.

• Average starting salary: $66,000
• Average mid-career salary: $99,000

14.Information systemsand management

A degree in information systems and management may be another option for students with an affinity for computing. Information systems (sometimes called information technology, which is a subset of information systems) are the concentration of technological networks within an organization. Graduates can start as network administrators or information technology analysts and move onto become Chief Technology Officer.

• Average starting salary: $54,000
• Average mid-career salary: $90,000

15. Mathematics

The word "math" appears frequently in this list. For students who are unsure of their major, a degree in mathematics is an opportunity to explore mathematics-related subjects, from actuarial science to economic theory. Math grades are requiredin many industries. You can become a financial analyst, software engineer, or even continue your education to become a teacher or math professor.

• Average starting salary: $59,000
• Mid-career median salary: $88,000

16. International relations

Do you always read the latest news from the world of politics and economy? Do you like to travel and learn the history of every place you visit? The Master of International Relations cancombine these interests. Students often specialize in a part of the world (such as Africa or Europe) and/or a discipline (such as human rights or global security). After graduation, you can pursue a career in the public sector and work in the CIA, the military or as a politician. Or go into the private sector and work for an international corporation in marketing, operations or strategy.

• Average starting salary: $58,000
• Average mid-career salary: $86,000

17. Architecture

Combining mathematics, engineering, creativity and design, architecture is a rigorous discipline. Architecture students take courses from physics to drawing. After graduation, graduate architecture students canget a jobin architecture firms as an architect, CAD designer or designer, or in real estate firms developing interior design.

• Average starting salary: $50,000
• Average mid-career salary: $85,000

18. Biochemistry

Biochemistry is an interdisciplinary degree that combines the study of biology and chemistry and challenges students to understand life at the molecular level. You will take advanced courses such as genetics and neurobiology and do a lot of lab work. Graduates pursue careers in healthcare, pharmacy or technology. If you like biochemistry but want to work as an engineer, addBiomedical engineeringspecialize or obtain a diploma in this field.

• Average starting salary: $45,000
• Average mid-career salary: $85,000

19. Chemistry

Chemistry studies explore the weeds of elements that make up our world. A lots ofgraduation in chemistrybe interested in medicine and go to medical school. But a chemistry major may also be suitable for careers in research and academia, drug development, or further training to pursue chemical engineering.

• Average starting salary: $47,000
• Average mid-career salary: $85,000

20. Marketing

For humanities students, marketing can be a higher-paying major with an emphasis on these skills.Marketing guidelinesstudy topics such as communication, business and advertising. Many corporations from various industries value good marketing and have their own marketing departments. Graduates can also go on to work for advertising companies that focus on this discipline.

• Average starting salary: $50,000
• Average mid-career salary: $85,000

Get scholarships with Going Merry

If you're still not sure what to study, take a deep breath. Many people focus on one thing in college andDo something differentwhen they finish their studies. If you declare a major only to realize it's not for you, you can always change your major. Use your higher education as a time to learn, grow and identify your interests. And try not to let the stress of choosing get too much of you.

Between deciding what to study, completing coursework, and earning a degree, college can seem like a full-time job. Going Merry is here to provide you with the tools to help reduce the cost of your education, identify scholarships and give youtips on how to be successfulon the way. Regardless of the course of study,start earninglook into your higher education today.Sign up for Going Merryand let us deliver quality scholarships straight to your inbox.

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