Investing in your future: College majors that led to the best-paying jobs
Undergraduates who studied computer science ranked among the top for earnings after graduation, according to the Federal Reserve Bank of New York. Credit: Unsplash/ThisisEngineering
With Long Island high school students facing the prospect of college tuition hikes and strict limits on federal borrowing for higher education, an increasing number of young people are considering majors that will potentially bring back a higher return on their education investment, according to local guidance counselors.
For years, a student’s college choice, and along with that, their potential major, have centered on personal interests, the university's social scene, location and tuition cost, counselors told Newsday.
And while those factors remain important, as the cost of college continues to escalate, and with parents facing new borrowing limits and fewer repayment options, students are becoming increasingly focused on careers that will bring in the most lucrative salaries, in part to justify their education expenses, said Sue Moller, chair of school counseling grades 6-12 at Lynbrook High School.
"Costs are coming into the discussion because gone are the days when you can just go to a SUNY school and come out with minimal loans," Moller said. "Even a SUNY school costs you a pretty penny when all is said and done. ... So students are starting to think more about the value of [their education] and what’s going to be appropriate and what career you’re coming out with."
What college majors pay off
Data released earlier this year by the Federal Reserve Bank of New York tracked early and mid-career median salaries based on college graduate majors.
For example, students with majors in computer engineering, computer science and chemical, aerospace, industrial, electrical and mechanical engineering ranked among the highest early career wages.
Between a third and nearly one-half of students with degrees in those majors also obtained graduate degrees in those fields, the data shows.
Meanwhile, majors in pharmacy, theology and religion, social services and performing arts ranked near the bottom of the list for early career wages.
Alison Shumway-Wong, a guidance counselor at Centereach High School, recently hosted a presentation focused, in part, on students securing a good return on their post-high school education.
"College has gone up so much that you want to make sure that you're going for something that's going to be worth it in the long run," said Shumway-Wong, who also serves as guidance chair for the Middle Country Central School District. "Computer-based and technology fields have always been pretty high-paying salaries. But now with things like AI, we also recommend looking at long-term job growth and outlook. Because something may seem great right now but in a few years that might not be the case when they're actually done with college."
Considering return-on-investment of college
The rising cost of higher education has had other trickle-down effects, including an impetus on high school students taking more AP classes to earn college credits, therefore shortening their university term, Shumway-Wong said.
Others are increasingly staying local for college, choosing a community college for their first two years or choosing less expensive and more targeted trade or technical schools, she said.
"We tell them to look at the tuition, and then to look at your what your salary is and kind of make a comparable decision based on those two things," Shumway-Wong said. "You want to think about what kind of loans you're going to have and if it's going to be worth it."
Lori Messina, a college and career counselor at Roosevelt High School, said she encourages her students to look at their future, including potential career earnings, through a long-term lens, with an eye on whether a bachelor's degree is sufficient to achieve their goals.
And if they're going to need a postgraduate degree, Messina said, to consider a four-year college that will give them the most bang for their buck.
"So I try and have them really think about 'What is your ultimate dream job?' " Messina said. "And now let's backpedal. How do we get there? What degree is needed?"
Robert Brodsky is a breaking news reporter who has worked at Newsday since 2011. He is a Queens College and American University alum.
