Choosing a degree is a significant decision for many students, as its financial implications can profoundly affect future earnings and career satisfaction.
It is important to note that not all degrees guarantee higher lifetime earnings compared to entering the workforce directly after high school, as some may ultimately cost more than their financial benefits.
Return on investment (ROI) for a degree is the anticipated lifetime value, net of debt, compared to starting a job right after high school. This evaluation helps students make informed choices about their educational paths, balancing potential earnings against costs.
Read also: 5 highest paying bachelor’s degrees to pursue in 2024 — Research
According to the U.S. Department of Education and the Bureau of Labor Statistics, data based on analysis from CollegeNPV shows the average return on investment of a degree in the U.S.
1. Engineering
Engineering ranks as the degree with the highest average return on investment, at $570,616. Graduates in this field often find employment in various sectors, including construction, manufacturing, and technology. Their skills in problem-solving and technical knowledge make them valuable to employers.
2. Computer and Information Sciences
Graduates in computer and information sciences can expect an average ROI of $477,229. As technology continues to evolve, the demand for skilled professionals in software development, data analysis, and cybersecurity increases. This field offers a diverse range of job opportunities.
Read also: Africa’s 5 highest paying jobs in 2024
3. Mathematics
A degree in mathematics provides an average return of $340,875. Mathematicians and statisticians play essential roles in sectors such as finance, engineering, and research. Their ability to analyse data and solve complex problems is crucial in today’s data-driven world.
4. Engineering Technicians
Engineering technicians enjoy an average ROI of $311,141. They work closely with engineers, supporting projects in design, development, and implementation. Their hands-on skills and technical knowledge are critical in various industries.
Read also: Top 7 degrees that produce the most millionaires
5. Business
The average ROI for business graduates stands at $205,191. This broad field includes areas such as finance, marketing, and management. Graduates can pursue various careers, from corporate roles to entrepreneurship, making this a versatile choice.
6. Architecture
An architecture degree yields an average ROI of $196,711. Architects design buildings and spaces, requiring a blend of creativity and technical knowledge. Graduates often work in architectural firms or pursue independent projects.
Read also: Top 7 degrees that produce the most millionaires
7. Nursing and Health Professions
Graduates in nursing and health professions see an average return of $194,756. This field is crucial, as healthcare remains a fundamental need in society. Nurses and health professionals play a vital role in patient care, making this degree rewarding both financially and personally.
8. Physics, Chemistry, and Geology
Students in physics, chemistry, and geology can expect an average ROI of $168,822. Graduates often work in research, education, or industry, applying their scientific knowledge to solve real-world problems.
Read also: Meet 6 College dropouts who defied the odds to become billionaires
9. Social Sciences
A degree in social sciences yields an average ROI of $118,454. This field encompasses various disciplines, including sociology, psychology, and political science. Graduates often pursue careers in social services, education, or research.
10. Interdisciplinary Studies
Finally, interdisciplinary studies provide an average return of $69,656. This degree allows students to combine multiple fields of study, offering flexibility in career paths. Graduates can apply their diverse knowledge in various sectors, although the ROI is generally lower than other degrees on this list.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
