If you’re in college, you’re probably anxious to know whether your degree will eventually pay off—especially if you’re pursuing an expensive tech degree. Which majors result in the highest median salaries?
Bankrate crunched the most recent data from the U.S. Census Bureau’s American Community Survey, with an eye toward figuring out “the median salaries of American workers based on the subject of their bachelor’s degrees” (they also analyzed according to gender). As you can see from the following chart, engineering degrees can yield significant median salaries, with computer engineering coming in second place:
Many of these degree programs are also dominated by men, which creates issues from a diversity perspective, according to Bankrate’s report: “Economists and sociologists say the significant gender differences in many college majors — particularly in science, technology, engineering and math (STEM) majors — play a role in maintaining the gender wage gap. Still, a STEM degree does not insure against the gender wage gap.”
Bankrate’s findings align somewhat with a report produced earlier this year by the Federal Reserve Bank of New York, which analyzed the labor market for recent college graduates and found that certain tech degrees translated into significant wages over the course of a career. Computer science and computer engineering degrees resulted in significant median wages in mid-career, followed closely by mechanical engineering degrees:
Keep in mind that the average tech salary (according to the latest Dice Tech Salary Report) stands at $111,348. Many tech pros are also dissatisfied with the current state of their compensation, with 49 percent telling Dice they’re underpaid. Fortunately, adding to your skills can help boost your compensation—and given the demand for tech professionals at the moment, you might not even need a four-year degree to get hired if you can prove that you have the necessary abilities.