A new study from financial publisher Bankrate found that STEM college majors dominate the ranking of valuable fields of study – but money isn’t the only consideration.
Related video: See the 2025 ‘best value colleges’ in America
(NEXSTAR) – A new study from financial publisher Bankrate found that STEM college majors dominate the ranking of valuable fields of study – but money isn’t the only consideration.
Outside of choosing a school, figuring out one’s major may be the most nerve-wracking decision for many first-year college students. While it’s not the only factor, post-graduate financial success and job prospects can’t be ignored, especially as the cost of education continues to soar.
Bankrate analysts used the U.S. Census Bureau’s 2022 American Community Survey to rank 152 bachelor’s degrees based on reported median annual income, unemployment rate and the percentage of workers who graduated with an advanced degree.
Electrical engineering took the first spot with an average salary of $115,000 and just a 1.9 percent unemployment rate.
In second was computer engineering with a median salary of $112,000 and an unemployment rate of 2.1%, followed by petroleum engineering with an average salary of $100,000 and an unemployment rate of just 9%.
See the full list below:
RankMajorMedian SalaryUnemployment RatePct. With Advanced Degrees1.Electrical Engineering$115,0001.9%47.6%2.Computer Engineering$112,0002.1%38.8%3.Petroleum Engineering$100,0000.9%39.2%4.Aerospace Engineering$105,0001.9%48.9%5.Materials Science$100,0001.1%63.7%6.Mechanical Engineering$100,0001.9%38.9%7.Electrical Engineering Technology$100,0002.3%31.7%8.Engineering Mathematics, Physics, and Science$100,0001.5%59.1%9.Chemical Engineering$100,0002.1%46.7%10.Actuarial Science$95,0001.9%20.0%(Credit: Bankrate)
These are the 10 “least valuable” majors, according to Bankrate:
RankMajorMedian SalaryUnemployment RatePct. With Advanced Degrees143.Other foreign languages, except for French, German, Latin and other common foreign languages$53,0004.8%45.2%144.Fine Arts$45,0003.7%25%145.Library Science$48,0003.2%69.2%146.Communication Technologies$50,0005.3%11.9%147.Clinical Psychology$45,0002.9%69.1%148.Miscellaneous Fine Arts$45,0004.8%15%149.Film, Video and Photographic Arts$45,0005.5%13.8%150.Visual and Performing Arts$40,0003.8%28.7%151.Drama and Theater Arts$44,0004.9%29%152.Studio Arts$40,0004.6%28.1%See the full ranking on the Bankrate website.
The job market and first-job salary shouldn’t be the only considerations when choosing a major, however, and it’s not uncommon for students to start down one career path and switch to a different while still in school.
“Ultimately, choosing a major is a personal decision that should align with your interests, goals and aspirations,” UC Davis school officials recommend. “Take the time to reflect, gather information and trust your instincts.”
Audrey Bluestone, in her second year at UCD, had this advice for new students: “Think about the classes you do well in naturally and/or enjoy putting the time in for. Consider choosing a major in that area. You should choose something you’re going to enjoy learning about.”
Harvard alum Harpreet Singh (2022) recalled thinking that first-year students had things figured out before they even arrived on campus.
“In fact, a large portion of Harvard students come in being undecided about their majors,” Singh told Harvard’s Student Voices. “As a result, a large part of the first-year experience is exploring different fields that you may be interested in and trying to narrow down the list of potential majors. Remember, nothing is set in stone!”