What's a Degree Really Worth?

[Penn]

Best Undergrad College Degrees By Salary - Full List
Best Undergrad College Degrees By Salary Starting Median Salary Mid-Career Median Salary

Aerospace Engineering $59,600 $109,000

Chemical Engineering $65,700 $107,000

Computer Engineering $61,700 $105,000

Electrical Engineering $60,200 $102,000

Economics $50,200 $101,000

Physics $51,100 $98,800

Mechanical Engineering $58,900 $98,300

Computer Science $56,400 $97,400

Industrial Engineering $57,100 $95,000

Environmental Engineering $53,400 $94,500

Statistics $48,600 $94,500

Biochemistry $41,700 $94,200

Mathematics $47,000 $93,600

Civil Engineering $55,100 $93,000

Construction Management $53,400 $89,600

Finance $48,500 $89,400

Management Information Systems $51,900 $87,200

Computing and Information Systems $50,900 $86,700

Geology $45,100 $84,200

Chemistry $42,900 $82,300

Marketing $41,500 $81,500

International Relations $41,400 $80,500

Industrial Technology $49,500 $79,600

Environmental Science $43,300 $78,700

Architecture $42,900 $78,300

International Business $41,900 $77,800

Accounting $46,500 $77,600

Political Science $41,300 $77,300

Urban Planning $43,300 $77,000

Philosophy $40,000 $76,700

Information Technology $49,400 $75,200

Zoology $37,000 $74,400

Occupational Therapy $61,300 $73,400

Microbiology $39,800 $73,200

Business Administration $42,900 $73,000

Business Management $43,300 $72,100

Advertising $36,900 $71,800

Biology $39,500 $71,800

Film Production $38,200 $71,800

Landscape Architecture $43,100 $70,800

History $38,800 $70,000

Health Sciences $37,800 $69,600

Geography $40,400 $69,300

Nursing $54,900 $69,000

Communications $38,700 $68,400

Radio and Television $34,000 $67,000

English $37,800 $66,900

Agriculture $40,900 $66,700

Hotel Business Management $37,400 $66,400

Journalism $36,300 $65,300

Forestry $39,700 $64,200

Anthropology $37,600 $63,200

Fashion Design $36,700 $62,800

Public Relations $36,700 $62,600

Art History $36,300 $62,400

Health Care Administration $37,900 $61,000

Psychology $36,000 $61,000

Interior Design $35,700 $59,900

Human Resources $37,800 $59,600

Graphic Design $36,000 $59,400

Criminal Justice $35,900 $59,300

Medical Technology $46,600 $58,400

Foods and Nutrition $41,700 $58,200

Sociology $36,500 $57,900

Religious Studies $35,300 $57,500

Drama $35,600 $56,600

Fine Arts $35,800 $56,300

Hospitality and Tourism $37,000 $54,300

Education $36,200 $54,100

Horticulture $37,200 $53,400

Spanish $35,600 $52,600

Music $34,000 $52,000

Theology $34,800 $51,500

Elementary Education $33,000 $42,400

Social Work $33,400 $41,600

Methodology


MBA in Finance from Harvard BS, Penn Wharton, NYU Stern working for Goldman...Priceless

Almost forgot
Stratification and other social demographic will also affect perception of value. Who do you hire the USMA grad, or the one with the same degree in engineering from Temple???

[nmap]

It's interesting, I think, that the reason people give for getting a degree involves something such as intellectual satisfaction or the ability to make a greater contribution to society. The reason is not money. As I peruse the list offered by Penn, it occurs to me that the low end salaries of a number of degrees can be surpassed by a bright and motivated high-school graduate in the right field.

And yet, much of the marketing of a college education emphasizes earning capacity. This, in turn, goes back some decades - when the earnings numbers were used to change the notion that higher education was a public good (in other words, a more informed and engaged citizenry) to primarily a private good (or, more pointedly - you make more money.)

This, in turn, justified the change in public policy from one of keeping education inexpensive and affordable to one of increasing prices. And, too, incurring debt may be more justified if a substantial economic return results. If, however, the primary result is satisfaction , a substantial debt may not be supportable.

I think, too, that the expectation of higher earnings has distorted public policy further. About 24% of our population has at least a BA degree ( LINK ). We might well ask whether a further increase will facilitate substantial growth in our national economy. And yet, the emphasis on greater spending (some might say "investment") on and in education is based on the idea that it will ultimately produce higher incomes. I wonder.

Oh, well. Let the good times roll, I guess.

[bandycpa]

nmap,

It may have been my generation that started the switch from "the betterment of society" to "the betterment of our earnings" as the motivation to get a college degree. My Dad was a coal miner, and he made pretty good money. But, he told me from the time I entered school at the tender age of five, "Son, you're going to college." All the way through elementary, middle, and high school, going to college was the goal...so much so that my high school graduation was merely the next step to "13th grade" rather than the emotional goodbye that a lot of my classmates experienced. Needless to say, going to college was the plan from the get-go.

Dad's logic was twofold: 1) It would allow me to make more money after graduation so I could better take care of my family, and 2) He forbade me from working in the mines as he did (he knew it was dangerous and ultimately bad for one's long-term health). I didn't know what my major was going to be in college, but I knew I was going there. Dad (and Mom too) made sure of that.

So, I had no grand vision of bettering society at the time. My going to college was simply fulfilling the desire my Dad had for me from a very young age. I am glad that he put that notion in my head early on, for I finally "got it" while in school and found what I was supposed to do in life. Hey, somebody has to keep track of the numbers and the tax laws!


Bandy

Originally Posted by Richard

Upon 'deflection' - it offers one a whole new 'angle' for consideration.

Richard

"I've never let school get in the way of a good education".

WD, yes it is mine.

Case in point, my 'family' had plans for me to attend West Point, earn an engineering degree and then move onto law school, Georgetown.

Never happened.

I opted for college, local state school, then after one year, enlisted.

While in, I attended school whenever occasion permitted. Boston College, MIT, Harvard Business, etc. My resume speaks well, but it is the "experience" that has always gotten me employed.

School, like anything, is an illustration of ones commitment to follow-through and complete what one starts. It is an example of commitment. However, it is a great vehicle, and if given the opportunity to attend school, I highly encourage our younger generation to complete.

I remember not so long ago, Denver, 1985, a young man, new out of school looking for a job, visits a local construction site. The Foreman asks, "Where did you attend school?" Young man says, "CSU, Ft. Collins, CO - I have a Masters in Art and an emphasis on Early European Architecture". "Sorry son", says the Foreman, "we're looking for PhDs".


The jobs of the future are those who attain a level of mastery in fabrication, building infrastructure and managing teams of laborers.

Be them here, Haiti or in space.

p.s., "Numquam poetor nisi podager". I only spout poetry when my feet hurt. - Ennius, Saturae

[SkiBumCFO]

"I've never let school get in the way of a good education".

Wet Dog always has a good quote!!

I am not sure they do much educating in Universities anymore unless you are looking for a specific vocation Wet Dog was in my office yesterday (pleasure having you stop by) and even though i have a masters degree he may have noticed there wasn't a single diploma on my wall just a map of the world and old SF artwork (Beasley and Belanger). When people ask how i got to where i am in life i say "everything i ever needed to know i learned in Kindergarten, and i didnt go to Kindergarten" In reality I probably learned everything i needed to know from my parents and from my mentors in SF. That said - if you are motivated, focus on the right classes and go above and beyond what the professor requires I do think you can get a lot out of a college education. If you want to learn a trade - acctg, finance, nursing, engineering, etc. you dont really have a choice you have to go but like anything in life be the best you can be, get into the absolute best school you can.

[mojaveman]

I have an undergraduate in Liberal Arts. I know a little about everything and a lot about nothing. It got me a job teaching business communications in Europe for a few years. I didn't make any money at it but it was one of the most interesting things I've ever done. I now work in management and do most of the critical thinking and communicating where I work. Higher education might not always pay but it sure can help.

I have been told I am too educated.. lets just say I have several bachelors and a masters of fine arts.. that and a buck fifty eight will get me a cup of cofee at the 7-11 any morning.

It's not necessarily what ya got, its what you do with it.

AM

[6.8SPC_DUMP]

Becoming fluent (starting at an early age helps I hear) in Cantonese, Mandarin or Portuguese is something that may increase the earning potential of your degree. Wish I had a better mind for it.

Maybe the Brits will learn to speak English someday.

[iamwill]

Edit

[Ret10Echo]

A "degree"?....well I have found myself over time taking classes in subject areas that interested me and in spite of a certain level of randomness, that has served me very well. I am still seeking to make it official since I have managed to accumulate a very large number of credit hours but not in any particular program.
I wouldn't trade the experience since I have managed to pick the courses that fit the need at the time. Upon retirement a higher-level degree would have allowed for a higher-level of entry into the civil workforce, but that delta was closed very quickly. I believe that my ability to progress rapidly to be an "intersection" of training and experience.

What would a degree have been worth? Probably not a whole lot without the real world experience. The order in which one chooses to approach this may vary.

In reflection, I wish I had taken advantage of the tuition programs while I was on active-duty. It can rapidly become expensive out here on your own.

R10

Just a thought...

The richest man in the world left college without getting his degree to start his business. Two extra points if you know who it is without using a search engine.

[Ret10Echo]

Originally Posted by HowardCohodas

Just a thought...

The richest man in the world left college without getting his degree to start his business. Two extra points if you know who it is without using a search engine.

Al Gore?


B.G.

Originally Posted by Ret10Echo

Al Gore?


B.G.

No, grasshopper! or are you pulling my leg.

[CPTAUSRET]

Originally Posted by Ret10Echo

Al Gore?


B.G.

Sweet!

[ZonieDiver]

It's not necessarily what ya got, its what you do with it.

A wise woman once told me that!