One of the most difficult decisions college students must make is choosing the “right” major, as it often predicts how much money they will make. But the link between choice of major and salary has been weakened due to factors such as experience and not landing a career in their field immediately after graduation.
While many students want to know which majors will make the most money after graduation, professionals have a hard time providing definitive answers. Lisa Hinkley, Associate Vice President for Career and Professional Development at Lake Forest College, talks about the misconceptions that are often associated with the amount of money that graduates make after receiving their degree.
“Employers seek candidates based upon the total set of skills and experiences they present,” Hinkley said. Diverse skills and experiences that students receive through coursework and internships allow them to be valuable prospective employees for many different jobs, no matter what their major,” she said.
“English and history majors are as sought after for high-paying finance jobs just as finance majors are,” she said. When determining income potential, it is important to understand that the first job is often a starting point, not an ending point.
A survey conducted by Career-Builder found that careers and majors don’t always match up. CBS News wrote an article based on this study that revealed, “Among the 2,134 workers surveyed, 47 percent of college graduates did not find a first job that was related to their college major.”
Regarding the importance of grad- uate school, its benefits depend on the major the student wishes to pursue, Hinkley said. “Students need to do their research to understand the role of graduate school in their chosen area,” she said.
A 2002 U.S Census of workers between the ages of 21 and 64 shows the difference in the aver- age salary based on the respondent’s degree. It states that people with a bachelor’s degree earn an aver- age income of $42,877 annually, while those with a master’s de- gree or higher earn an average of $55,242 annually.
If you are considering graduate school, it is important to follow your interests. It isn’t fair to assume that one major is more important than another, according to Hinkley. For example, the media often degrades art majors for their decision to pursue what they love.
In fact, art majors often learn valuable lessons about accepting and giving feedback, which are vital skills in the workplace. Regardless of the field a student decides to study, a strong performance in academics is what’s needed to succeed after college.
With the Career Milestones developed by Lake Forest College, stu- dents are better able to decide what majors they should pursue through a series of steps to accomplish their professional goals.
“If a student can’t articulate the value of their major to an employer, they won’t get hired whether the employer was directly looking for students from that major or not,” Hinkley said.
When applying for jobs after graduation, students should keep in mind the importance of the skills and ex- periences that they have developed in school, because that’s what will predict how much money you earn—not what’s written on your degree.
