College majors with the worst return on investment

College majors with the worst return on investmentCollege majors with the worst return on investmentAfter choosing a college, the most important decision for a student is their major. While some students enroll in college knowing exactly what they want to do, many wont declare a major until after their freshman or sophomora year. Usually, academic interests and intended career paths factor into students choice of major. However, students should also consider earning potential, especially with the cost of college continuing to rise.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreWith regards to earning potential, more education is generally better. According to Five Rules for the College and Career Game, a recent report released by the Georgetown University Center on Education and the Workforce, students who earn a graduate degree have zentralwert earnings twice as high as those who only have a high school diploma. The median earnings for professionals with a bachelors degree is $62,000.While level of education is important, the individual program of study or major matters even more. According to the same Georgetown report, students who receive an associates degree in a Science, Technology, Engineering, or Math (STEM) field have higher median annual earnings ($60,000) than students who receive a bachelors in a menschenfreundlichities/liberal arts field ($53,000), arts ($50,000), or psychology/social work ($47,000).Given the wide disparity among majors, some employers recommend thinking carefully about the job market before deciding what to study. Michelle Armer, Chief People Officer at CareerBuilder, said, Everyone chooses their college major and career path with their own set of criteria in mind, but the rising cost of education and student debt is undoubtedly a concern for people who are college-bound.In a recent survey, CareerBuilder found that over 50 percent of 2014 g raduates- now five years into the workforce- have student debt they are working to pay off. When asked whether the rising price of education will contribute to a decline in certain majors, Armer explained, If people are considering a few different majors, they may be more likely to choose the path with a higher future earning potential, and we could potentially see a decline in majors that dont set students up for clear earnings paths.But salaries vary significantly within majors too. For example, some liberal arts majors make more than some engineering majors despite engineers making more overall. Notably, the Georgetown report found the top 25 percent of liberal arts and philanthropischities majors out-earn the bottom 25 percent of architecture and engineering majors. While some of that variation is due to differences among people and job locations, variation among schools and programs contribute as well.Unfortunately, at present, there are no publicly available data showing how m ajors from specific schools perform in the workforce. But this could soon change as the result of a new executive order issued by President Trump calling for transparency in program-level data. In a shift toward program-level outcomes, every college will be unbundled down to the program level- its identity, traditions and structure will become less important. Instead, the outcomes of students in each particular major or field will be elevated in importance, explained Dr. Anthony P. Carnevale, research professor and Director of the Georgetown University Center on Education and the Workforce.The most significant effect would probably be the streamlining of public university systems, he continued. Carnevale envisions a world in which public university systems might decide to offer a specific degree (say English) at only one campus, instead of at every branch campus. This would allow the university to direct its resources and top talent in English towards a single campus, and ideally wo uld create one outstanding degree program instead of several mediocre ones. On the other hand, this could create an environment in which degree programs with low earning potential experience budget cuts and become worse, notlage better.Armed with this new information, should students shy away from majors that traditionally dont pay well, even if its their calling? Fortunately, even if a student wants to pursue a major that does not offer the highest earning potential, there are ways to make up the difference.For entry-level jobs, three in five employers have said soft skills will be just as important as hard skills in the hiring process, and these employers are looking for candidates who have basic knowledge of the position, are team-oriented, and have attention to detail- skills that recent college graduates of any major can possess, said Armer.Its also worth remembering that ones college major and first job do not necessarily dictate their entire career path. Students looking to i ncrease their earning potential after college might benefit from pursuing a graduate degree, certification, or technical skill.Until the new higher education legislation goes into effect, it is good for students to keep in mind which majors on average pay the best and worst. To determine this, private tutoring firm HeyTutor analyzed data from the U.S. Census Bureau and looked at median salaries, unemployment satzs, and underemployment tarifs for 73 different college majors. To control for educational attainment, the salary data only takes into account earnings from workers with undergraduate degrees, not workers who went on to receive graduate or professional degrees.HeyTutor found that the median salary for all entry-level professionals with a bachelors degree is $40,000, and the mid-career median salary is $68,000. The overall unemployment satz for bachelors degree holders is 3.9 percent, and the underemployment rate is 42.9 percent. Consistent with the Georgetown report, HeyTutor also found that the college majors with the lowest return on investment tend to be in the arts, humanities, and social sciences.Below is a list of college majors with the lowest entry-level salariesSalaries for the 19 lowest-paying majors19. Animal and Plant Scienceszentralwert wage early career $35,000zentralwert wage mid-career $60,000Unemployment rate 3.0%Underemployment rate 57.4%Share with graduate degree 34.8%Students who study animal and plant sciences learn the scientific principles behind the breeding, cultivation, and production of agricultural plants and animal products. The curriculum for this major includes crop cultivation, food production, and animal husbandry, among other agricultural topics.Students who undertake this field of study pursue careers as agronomists, greenhouse managers, biotechnologists, animal scientists, and soil scientists. However, as agriculture has become increasingly automated, demand for many of these positions has suffered.18. Mass Mediazentr alwert wage early career $35,000zentralwert wage mid-career $60,000Unemployment rate 7.8%Underemployment rate 55.2%Share with graduate degree 18.3%Mass media is a broad major that incorporates media history, media criticism, and the social and cultural effects of mass media. The best students who enroll in a mass media major have a variety of career options to choose from, including public relations, media planning, advertising, and journalism. However, many mass media majors struggle to find jobs in their field and have the highest unemployment rate on this list, at 7.8 percent.17. Elementary EducationMedian wage early career $35,000Median wage mid-career $43,000Unemployment rate 1.9%Underemployment rate 15.9%Share with graduate degree 47.0%Elementary education is an academic program that prepares future teachers for educating elementary school students (kindergarten through eighth grade). Unlike secondary school teachers, who specialize in a specific discipline like math or Englis h, elementary education teachers study a holistic curriculum that includes all subjects relevant to grades K-8. Despite low salaries, elementary education majors have the second lowest underemployment rate of all majors in the analysis at 15.9 percent.16. Foreign LanguageMedian wage early career $35,000Median wage mid-career $60,000Unemployment rate 4.2%Underemployment rate 46.2%Share with graduate degree 50.0%Students who major in a foreign language may become foreign language teachers, translators, or linguists. In addition to below average wages, the unemployment rate of 4.2 percent for foreign language majors is higher than the average unemployment rate for all bachelor-degree holders.15. English LanguageMedian wage early career $35,000Median wage mid-career $60,000Unemployment rate 5.3%Underemployment rate 50.6%Share with graduate degree 45.5%English language majors learn the history and structure of the English language. They usually also study the literature of English-speaki ng cultures, especially British and American. Due to the writing-intensive curriculum, English majors often enter the workforce as journalists, PR managers, or marketing professionals. Many also become English teachers. More than half of English language majors are classified as underemployed.14. BiologyMedian wage early career $35,000Median wage mid-career $65,000Unemployment rate 4.6%Underemployment rate 44.6%Share with graduate degree 63.2%Biology majors immerse themselves in the study of living organisms. Courses in a biology major might include biochemistry, evolutionary biology, genetics, marine biology, microbiology, plant anatomy, and zoology. Biology majors can undertake careers as biologists, geneticists, lab technicians, meteorologists, and more. While biology majors without a graduate degree have below average earnings, over 63 percent will go on to pursue an advanced degree, which usually helps financially.13. Miscellaneous Biological SciencesMedian wage early career $3 5,000Median wage mid-career $60,000Unemployment rate 3.9%Underemployment rate 46.5%Share with graduate degree 60.4%Miscellaneous biological sciences are instructional programs related to biology, but do not have a clear specialization listed in the National Center for Education Statistics Classification of Instructional Programs (CIP). Some of these majors might include immunology and physiological sciences.12. Nutrition SciencesMedian wage early career $35,000Median wage mid-career $54,000Unemployment rate 5.8%Underemployment rate 47.9%Share with graduate degree 46.4%A nutrition sciences major teaches students how food plays a role in human growth and metabolism, using fundamentals from the agricultural, biological, and biomedical sciences. Many nutrition sciences majors become nutritionists, corporate wellness specialists, and food product developers. The unemployment rate for this major is 5.8 percent.11. SociologyMedian wage early career $34,600Median wage mid-career $56,000Unem ployment rate 3.9%Underemployment rate 56.0%Share with graduate degree 35.2%Sociology is the study of institutions and interpersonal relationships within society. The curriculum for this major often includes social theory, research methods, hierarchies, dynamics of social change, family structures, and social issues. Sociology majors have a wide range of options for careers, but more than half find themselves underemployed. For the most successful sociology majors, popular paths include advertising, law enforcement, counseling, public policy, community development, and human resources.10. Leisure and HospitalityMedian wage early career $34,200Median wage mid-career $58,000Unemployment rate 3.7%Underemployment rate 63.0%Share with graduate degree 30.2%Leisure and hospitality is an excellent choice for students who are interested in working in resort management, hotels, or tourism agencies. This major prepares individuals to work in hospitality operations through coursework in tourism , hospitality, management, marketing, franchising, and regulation. However, leisure and hospitality has the third highest underemployment rate of any major, and its typical student will earn less than $35,000 per year after college.9. PsychologyMedian wage early career $34,000Median wage mid-career $56,000Unemployment rate 4.1%Underemployment rate 49.7%Share with graduate degree 50.3%Classified as a behavioral science, psychology is the study of individual and collective behavior. Psychology majors study the physical and environmental factors that influence human behavior, research methods, and the treatment of mood disorders. Psychology majors can pursue careers ranging from business and marketing to counseling and social services. Unfortunately, a typical early-career wage for psychology majors is just $34,000 per year.8. Fine ArtsMedian wage early career $33,500Median wage mid-career $55,000Unemployment rate 5.6%Underemployment rate 58.4%Share with graduate degree 22.5%Fine arts majors hone their craft in visual media, which may include drawing, sculpture, printmaking, textiles, intermedia, or photography. Students learn about color theory, composition, perspective, studio management, and art portfolio marketing. Potential job titles for fine arts majors include graphic designer, art director, creative strategist, and commercial artist. However, the underemployment rate for fine arts majors is far above average at 58.4 percent.7. Liberal ArtsMedian wage early career $33,400Median wage mid-career $60,000Unemployment rate 6.7%Underemployment rate 58.4%Share with graduate degree 27.8%A liberal arts major is characterized by its breadth of subjects, including the humanities, arts, sciences, and social sciences. With such a diverse curriculum, liberal arts majors can engage in a variety of careers and industries. Sales, marketing, business, journalism, and public relations are just a few examples of career paths. Liberal arts majors have the second highest unemp loyment rate on this list.6. AnthropologyMedian wage early career $33,000Median wage mid-career $57,000Unemployment rate 6.6%Underemployment rate 59.1%Share with graduate degree 46.9%Anthropology is the study of human beings, their primal ancestors, and cultures. The curriculum includes paleontology, archeology, evolution, linguistics, and research methods. Those who study anthropology can enter the job market in forensic pathology, museum studies, and international affairs. Yet, anthropology majors have one of the highest underemployment rates.5. Early Childhood EducationMedian wage early career $32,100Median wage mid-career $41,000Unemployment rate 1.7%Underemployment rate 19.2%Share with graduate degree 38.2%Early childhood education majors undergo training to become teachers for students ranging from infancy through eight years old. Similar to elementary education majors, early childhood education majors are exposed to a general curriculum. Early childhood education majors have the lowest mid-career median wage on this list at $41,000.4. Family and Consumer SciencesMedian wage early career $32,000Median wage mid-career $50,000Unemployment rate 4.3%Underemployment rate 44.6%Share with graduate degree 32.5%A family and consumer science major teaches students about the relationship between individuals and their family, work, and community lives. Many students in this major become family and consumer science teachers, but others also work in human resources, nonprofit organizations, school services, and more. The mid-career median wage of $50,000 is about 26 percent lower than the mid-career median wage for all bachelors degree holders.3. Theology and ReligionMedian wage early career $32,000Median wage mid-career $49,000Unemployment rate 1.0%Underemployment rate 46.9%Share with graduate degree 42.2%A theology and religion major is the academic study of the beliefs underlying different religious faiths. A theology curriculum may focus on one religion faith or i nclude the interdisciplinary study of many faiths. Students who undertake this course of study understand the history, doctrines, beliefs, and applications of religion. Many theology students become pastors, rectors, campus ministers, or chaplins. Others become teachers, counselors, and other social service workers. Students who study theology and religion have the lowest unemployment rate of any major at 1 percent.2. Social ServicesMedian wage early career $31,300Median wage mid-career $44,200Unemployment rate 3.5%Underemployment rate 31.5%Share with graduate degree 47.4%Social services majors typically choose this academic program to pursue careers in social work or psychiatric case work. Coursework includes skills like clinical interviewing techniques, therapeutic intervention strategies, counseling, rehabilitation, and record-keeping. A common job title for social services majors is social worker.1. Performing ArtsMedian wage early career $30,000Median wage mid-career $58,000Une mployment rate 3.7%Underemployment rate 65.7%Share with graduate degree 37.6%A performing arts major encompasses a variety of visual media and performance disciplines. A few examples are theater, music, art, and dance. Potential career paths for performing arts majors include professional dancers, artists, music directors, talent agents, and actors. In addition to having the lowest early career median wages, performing arts majors have the highest underemployment rate on this list at 65.7 percent.MethodologyThe data used in this analysis is from a Federal Reserve Bank of New York analysis of U.S. Census Bureau 2016 2017 American Community Survey data. To control for educational attainment and hours worked, median wages are for individuals working full-time with a bachelors degree only (e.g. they did not yet go on to receive a graduate or professional degree). Early career wages are for individuals between the ages of 22 and 27, whereas mid-career wages are for individuals between t he ages of 35 and 45.Unemployment and underemployment statistics are for bachelors degree holders and above that are between the ages of 22 and 27. The graduate degree share is for individuals between 25 and 65 with a bachelors degree or higher. Individuals enrolled in school are not included in the analysis.The final list of items is ordered by median early-career wage. Only majors with a median early-career wage below $35,000 per year were included.This article first appeared on HeyTutor.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people