For aspiring tech professionals who are just entering college, choosing a degree can prove a nerve-wracking experience. After all, you’re committing a lot of time, money, and effort to earning your BA, and you want it to pay off. What degrees lead to the best outcomes, at least in terms of salary and employment prospects?
The Federal Reserve Bank of New York recently analyzed the labor market for recent college graduates and found that certain tech degrees translated into significant wages over the course of a career; these graduates often enjoyed lower unemployment rates than their colleagues with liberal arts degrees, as well. While you should head over to the Fed NY site for the full breakdown, we’ve taken the liberty of separating out some key tech majors below:
For those considering a degree in computer science, engineering, mathematics, business analytics, and similar fields, this data should come as good news: even if the median wages for graduates with these degrees are lower in the early stages of their careers, those wages increase significantly over the next several years. Unemployment for these degrees also remains low relative to other majors, such as philosophy.
Just for context, the average tech salary (according to the latest Dice Tech Salary Report) stands at $111,348. In 2022, tech professionals also reported greater salary dissatisfaction compared to 2021, with 49 percent saying they were underpaid. Of course, boosting a salary depends on more than simple tenure; tech pros must take care to keep their skills up-to-date at all times, especially given how quickly the tech industry evolves. A degree in a discipline like computer science is most effective when paired with mastery of key tools, platforms, and popular programming languages.
It’s also important to remember that not every job requires a degree; if you can demonstrate that you have the skills necessary for a job (and you can pass the technical interviews), there are opportunities out there for you, even if you haven’t earned a BA.