If they pick the right major, that is. STEM good, social sciences/humanities/liberal arts/education bad. And business MEH. From Investors.com:
Grads whose specialty is petroleum engineering could touch six-figure territory at the outset of their careers, while those involved in early childhood education might make less than a third of that, according to PayScale Human Capital, a Seattle-based compensation consultant.
“It varies a lot by field,” said Lydia Frank, PayScale spokeswoman. “You don’t want to set the same expectations for all graduates.”
To no one’s surprise anywhere, engineers of all types lead the salary pack for freshly minted graduates, according to PayScale’s data. Petroleum engineers far outpace the rest of the field as the only arena where a rookie has a shot at a six-figure salary out of the gate. Next on the list is mining engineers, at salaries around $70,000. In all, engineering fields occupy the first nine spots in starting pay.
Much of PayScale’s data is confirmed, though, via another study from the National Association of Colleges and Employers. The NACE study shows grads in the traditional “STEM” categories — science, technology, engineering and math — will get the highest pay, with average starting salaries in those broad categories ranging from just a shade above $55,000 for math majors to just under $65,000 for engineers.
Business majors are next on the list at just above $52,000 — and that is about where the average starting pay is for all grads, though research on the average is incomplete for 2016, says Andrea Koncz, the association’s research manager.
Farther down the list is health care at less than $49,000, communications at just above $47,000 and humanities at a little more than $46,000. Education is at the bottom, at less than $35,000.
Don’t waste your time getting a business degree. Start a business instead. Even if it fails, you will learn more than you will sitting in a classroom for 4-6 years.
And mamas, don’t let your babies grow up to be “Educators”.