A new study from Student Choice makes it clear that different college majors yield dramatically different outcomes. Their data show that an Engineering degree has a 325% return on investment (ROI) compared to a Fine Arts degree, which has a 163% ROI after five years. While these are both positive, that’s a huge difference. Information like what the team presents in this study is crucial to intelligent career planning. Read the full study here.
Diving into the data, we see median salaries after one year, five years, and a five-year ROI, which provides realistic insight into what graduates in each major can expect in the working world. This data is a snapshot of what real alums are experiencing as their careers progress. High ROIs can signal important facts about the job market, indicating where there are numerous opportunities for employment and high income. The five-year insight is really useful in helping people make long-term plans and shows the value of a degree beyond the immediate results after graduation.
Prospective students and their parents can use this information to make sound educational decisions. Academic advisors can use this data to help students make career and internship choices. If you’re a professional looking to make a lucrative career change, ROIs are an invaluable insight into where you’ll see the most movement. In short, ROI can reflect the skills employers value the most.
ROI patterns reflect economic trends. The highest earners are in fields that are in the highest demand. Engineering and Computer Science have the highest ROIs, pointing to the importance of technology and its impact on shaping the workforce. Student loans often make headlines as many struggle to make their repayments, leading to the common misconception that degrees don’t pay off. ROI data show exactly how valuable a degree is. This study is useful in so many different ways.
