What Are Some Majors That Make Good Money

Updated on February 16th, 2021

When students begin exploring majors, earnings potential is commonly part of the equation. Many students want to pick majors that make the most money. That way, the educational track they chose can lead to great pay, benefits, and more, giving them a path that supports their desired lifestyle once they launch their career.

But figuring out which majors make the most money isn't easy. There are a lot of factors in play, many of them going far beyond the subject a student chooses. If your student wants to ensure their earnings potential is top-notch, here's a look at some of the considerations, as well as a list of majors that make the most money typically.

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Contents

1 Is Any Major Guaranteed to Lead to a High-Paying Job?
2 41 Majors That Make the Most Money
- 2.1 Information Technology and Computing Majors
- 2.2 Healthcare, Medicine, and Medical Engineering Majors
- 2.3 Marketing, Advertising, and Public Relations Majors
- 2.4 Engineering and Construction Majors
- 2.5 Finance and Accounting Majors
- 2.6 Law, Criminal Justice, and Government Majors
- 2.7 Hard Sciences Majors
- 2.8 Administration and Management
3 Should I Pick a Major Because of the High Pay?

Is Any Major Guaranteed to Lead to a High-Paying Job?

Before we dig into the highest-paying majors, it's important to realize that the major itself isn't always what leads to higher pay. Instead, it's the career path your student chooses after they graduate.

Even jobs with similar titles can offer wildly different pay rates. The nature of the duties, type of organization, and even physical location all impact salaries. For example, while doctors are classically known for having substantial compensation packages, what a person may earn as a specialist in a cutting-edge practice will be different than what a more general physician working in a free clinic might make.

Additionally, while various majors may make a person eligible for a high-paying job, the number of opportunities in individual segments may be limited. Snagging specific positions can be challenging, and many people with the right qualifications may not end up in those roles.

Further, some jobs that come with generous salaries require advanced degrees. At times, a Master's or Doctorate is necessary to tap the full earning potential of a field. That means dedicating more time – and potentially money – to education before even qualifying for those roles. For some, getting one of these highest-paying degrees may feel like time well spent, but not everyone would agree.

Finally, you can't ignore the influence of individual performance. Even with a stellar, in-demand degree in one of the high-paying college majors, how a person handles their responsibilities in every job they hold affects their career's overall arc. Top performers may get farther than those who simply meet expectations simply by virtue of their effort and capabilities.

However, with that said, certain majors do have more potential for high-paying careers than others. If salary is a significant concern for your student, getting a degree in one of those areas may increase their chances of getting the compensation they are after. But it's never a guarantee.

When you begin exploring majors, earnings potential is part of the equation. Here is a list of majors that make the most money typically.

41 Majors That Make the Most Money

As mentioned above, no major is a guaranteed path to a high salary. However, when it comes to potential, certain ones are ahead of others.

Plus, getting a degree in certain subjects may provide your student with more career stability. For example, some industries were hit hard by COVID-19, while others flourished.

Of those that saw growth, some may be explicitly related to situations created by the pandemic, while others may be due to the ongoing need for specific products or services at all times. While those in the latter category may seem like the best degrees to get in 2021, providing stability that may otherwise be hard to find, that doesn't mean other options aren't viable.

This list is designed to offer a bit of both perspectives. Career longevity can influence long-term earnings potential, making it a relevant part of the equation. However, so does the major itself.

With that in mind, here's a look at the high-paying majors – including average salaries for degree holders – that offer ongoing growth potential and a level of stability.

highest paying degrees

Information Technology and Computing Majors

Most students aren't surprised about the potential of a career in technology. The landscape is surprisingly vast, covering a wide range of niches that seem to become more crucial on a societal level each day.

By majoring in an information technology or computing-related field, students usually have the foundation for solid careers. Here's a look at some of the high-paying degrees that fall into this category – with their average annual salaries – that have excellent long-term potential:

Cybersecurity – $70,623
Software Engineering – $81,971
Computer Science – $85,957
Information Technology – $67,407
Computer Networking – $75,429
Systems Engineering – $89,230

Healthcare, Medicine, and Medical Engineering Majors

Another broader field that's known for high-demand and excellent salaries is healthcare and medicine. With the population generally aging, the need for professionals in these positions continues to grow, causing some of these degrees to be good college majors from a financial and stability perspective.

By majoring in a healthcare-related subject, students can position themselves for stable, lucrative careers. Just keep in mind that some professions require advanced degrees while others make medical school a necessity. Here's a list of majors that fall into this category and average salaries:

Nursing – $85,769
Biomedical Engineering – $74,770
Medicine – $201,290
Physical Therapy – $71,318
Pharmacology – $72,362
Dentistry – $120,000
Healthcare Administration – $61,416
Health Informatics – $73,064

best degrees to get in 2021

Marketing, Advertising, and Public Relations Majors

The business landscape is always competitive, regardless of what else is happening in the world. As a result, professionals with proven marketing, advertising, and public relations chops will continue to find opportunities, which is why these are some of the top-paying degrees available.

Here is a list of majors that apply to these fields, along with the average salaries for degree holders:

Marketing – $65,735
Advertising – $56,824
Public Relations – $54,221
Communications – $60,789

Engineering and Construction Majors

When it comes to lucrative STEM careers, engineering is one of the leading options. Many of the positions that these degrees lead into pay handsomely. Plus, there's a notable amount of growth potential.

Here is a list of engineering and construction-related majors and average salaries that could work well today:

Petroleum Engineering – $110,000
Nuclear Engineering – $84,072
Electronics Engineering – $81,965
Mechanical Engineering – $80,617
Aerospace Engineering – $82,816
Civil Engineering – $70,895
Industrial Engineering – $78,764
Architectural Engineering – $73,479
Construction Management – $72,543

highest paying majors

Finance and Accounting Majors

Since money isn't something that will ever go away, heading into a finance or accounting field offers a respectable amount of career stability with substantial earnings potential. Large enterprises, small businesses, and individuals regularly need financial-related assistance, so a level of demand always exists.

Here is an overview of some finance and accounting majors, including average salary data:

Accounting – $64,352
Finance – $72,148
Actuarial Sciences – $67,277

Law, Criminal Justice, and Government Majors

While the most obvious high-paying career in this niche is lawyer, it certainly isn't the only option. For example, economists can make a pretty penny as well, and they can technically fall into this category, too.

Whether your student wants to be a lawyer or play a critical role in government, here are some majors that can help them get there:

Political Science – $68,292
Criminal Justice – $64,329
Government – $57,162
Economics – $74,693

highest paid majors

Hard Sciences Majors

While not all hard sciences degrees lead to stellar salaries, some certainly can. Focusing on the right area makes it possible to turn a hard sciences degree into a high-paying career.

Here are some hard sciences majors that are in demand today:

Physics – $87,163
Chemistry – $74,841
Food Science – $64,423
Materials Science – $78,052

Administration and Management

Keeping a business, government office, or any other entity running takes a lot of know-how. That's why the administration and management-related majors are lucrative; they give students that critical knowledge.

If your student is interested in running any kind of organization, here are some majors that may get them there:

Business Administration – $64,092
Public Administration – $65,878
Management Information Systems – $80,642

Should I Pick a Major Because of the High Pay?

While looking for a major that comes with a substantial salary isn't a bad idea, letting pay alone determine what your student studies might not be the smartest move. Ideally, they should choose a career that they'll find intriguing and engaging over the long-term. After all, they may be working in the field for 40+ years, so it should be enjoyable or, at least, interesting.

In most cases, students should balance pay considerations with passion. Encourage your student to think about what they enjoy, and then use that as a guide. They can research job options that fall into their preferred niche, allowing them to identify a career path with solid earnings potential that they'll also like.

Ultimately, a career is a decade-spanning part of their lives. While money should be a factor, it isn't the only important part of the equation.

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