Find your perfect college degree
“Love or money?” isn’t just a question when choosing a partner; it’s also something you consider when picking a degree. Most students would answer love.
However, with global inflation rates and rising living costs, financial stability has become a significant factor in this decision. Would you still choose your passion over a degree that promises higher pay and more financial security?
Six out of ten Americans who pick a degree based on passion regret it. Also, 65% of people switch careers to something unrelated to their degree, mainly for better financial stability and higher income. This shows that money often becomes a significant factor.
In the eyes of all college students, a great promise in terms of money can be enough to draw them toward a certain degree. The greater the income, the better.
The following are the top five top-paying bachelor’s degrees in the United States of America:
The Top 5 Highest-Paying Majors
#1 Aviation Management
Average Annual Salary: $219,140
Job Growth 2022-32: 4 percent
The growth of user-generated content has transformed the aviation management sector. Today, travel has become more than just a short break from everyday life; it is a significant part of our lives. This trend has allowed the aviation industry to grow more.
The International Civil Aviation Organization or ICAO predicts a 4.3% annual growth rate in air travel, which could double passenger numbers by the mid-2030s.
With only a Bachelor’s in Aviation Management degree, along with a few more training and certificates, you can apply as an airline and commercial pilot. These positions. These positions offer exciting career opportunities in a rapidly expanding industry.
If you don’t think that becoming a pilot is for you, you can still earn a significant amount of money with this bachelor’s degree. According to Glassdoor, the average salary of professionals in aviation management is $109,708.
The top schools for aviation management include Florida STEM University and Embry-Riddle Aeronautical University.
#2 Computer Engineering
Average Annual Salary: $138,080
Job Growth 2022-32: 5 percent
If you’re into cutting-edge tech, computer engineering could be a perfect fit for you. This vibrant and evolving field blends computer science and electrical engineering, focusing on hardware, software, and their integration.
By 2030, computer engineers will play a key role in this tech transformation, with more everyday devices becoming internet-connected. There’s a strong demand for these professionals across various industries, with projected annual openings of 4,600 jobs.
Because of the high demand for computer engineers, many financial aid opportunities are available for those pursuing a degree in this field. Some of the country’s top schools for pursuing a computer engineering degree are Carnegie Mellon University, the University of Illinois Urbana-Champaign, Purdue University-Main Campus, and the University of Texas at Austin.
#3 Petroleum Engineering
Average Annual Salary: $135,690
Job Growth 2022-32: 2 percent
Oil and gas are extremely valuable resources that are challenging to retrieve. Petroleum engineers come up with strategies to provide solutions and develop methods for extracting oil and gas from underground deposits, including new sources and old wells.
Petroleum engineers work in the fields of chemistry, geoscience, and physics – a bachelor’s degree in engineering, especially petroleum engineering, would qualify one to work in this field. Petroleum engineers are expected to work in either offices or drilling sites, and travel is frequently required.
Numerous universities in the United States offer a degree in petroleum engineering, such as the University of Texas and Colorado School of Mines.
#4 Actuarial Mathematics
Average Annual Salary: $120,000
Job Growth 2022-32: 23 percent
In businesses, it is common to experience business problems that involve risk and uncertainty of unplanned events. Actuaries utilize their skills in mathematics, statistics, and finance to evaluate scenarios that could lead companies into unpleasant situations.
They are responsible for determining the financial risk associated with uncertain events. Actuaries pursue a career in finance and are in charge of weighing and managing risk. Different industries such as banking, investment, finance, management, consultancy, and insurance are always in demand for these kinds of positions.
The University of Pittsburgh and the University of Pennsylvania are a few of the universities in the United States that offer a degree in actuarial mathematics.
#5 Chemical Engineering
Average Annual Salary: $112,100
Job Growth 2022-32: 8 percent
Chemical engineers are given the duty to transform processes developed in laboratories into practical and usable applications for the production of commercial products like plastics and synthetics.
Part of their job is also to find more efficient ways to use raw materials. Taking a degree in chemical engineering doesn’t necessarily mean having to work in a laboratory. Some chemical engineers work in research and development, medicine, architecture, and food processing.
Among the best schools where one can earn a degree in chemical engineering are MIT, the University of California Berkeley, and the Georgia Institute of Technology.
Factors To Consider When Choosing The Highest-Paying Bachelor’s Degree Program
There are a lot of factors that go into choosing the best option. Consider the following when selecting the highest-paying bachelor’s degree:
Your current skills
While you can gain new skills in college, it’s important to assess your current skills and how they fit with the program’s requirements. Pick a degree that builds on your strengths and offers opportunities for growth in your areas of expertise.
Location
Demands will vary from location to location. For instance, the demand for certain degrees might be higher in tech hubs like Silicon Valley compared to rural areas. Consider where you plan to live and work after graduation, as some degrees may offer better prospects in specific geographic locations.
Your budget
When choosing a program, it’s also important to assess your current financial status. Pursuing a high-paying degree from a top school doesn’t always ensure high ROI. A degree in exchange for debt will still lead to financial challenges in the future.
Other High-Paying Degrees To Consider
Business Administration
Average Annual Salary: $65,138
Business administration degrees are among the most flexible ones. With various specializations like marketing, finance, and human resources, you can pursue a career in many different fields. You can also dive into leadership and choose specializations like entrepreneurship or nonprofit management.
Accounting
Average Annual Salary: $85,842
An accounting degree focuses on managing financial transactions, including auditing and cost accounting. You can choose to specialize in areas such as forensic accounting or public accounting, and as technology advances, accountants’ analytical roles are increasingly crucial.
Finance
Average Annual Salary: $96,468
A finance degree teaches you about statistics, business law, and taxation. It’s a high-paying field with options to specialize in financial planning or asset management. Graduates can work as financial analysts or managers, making it a valuable choice for many.
Nursing
Average Annual Salary: $74,836
A nursing degree (BSN) will prepare you to pursue higher pay and leadership roles than those with an associate’s degree. It’s also a stepping stone to advanced degrees like Nurse Practitioner or Clinical Nurse Specialist.
Having a BSN is also the first step to pursuing advanced studies in nursing, such as a Nurse Practitioner degree or a Clinical Nurse Specialist degree.
Economics
Average Annual Salary: $121,559
Economics degrees involve studying economic theory and market trends, which are applied in tech firms like Amazon and Uber. Specializations can include financial or agricultural economics, reflecting the field’s wide range of opportunities.
Summary Points
- Consider assessing your skills, financial status, and plans before choosing a degree program.
- Other high-paying but slightly less demanding bachelor’s degree programs lead to business, finance, and healthcare careers.
- Other careers require only bachelor’s degrees that also offer promising sums of money after graduation such as those in healthcare and business and finance. Whatever field you are most inclined to, there is a high-paying job that is ideal for your interests and skill set.
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