Getting a college degree is a financial commitment with a big impact on future earnings. New research finds that a student's major, along with their alma mater, can make a huge difference in their average salary four years after graduating.
Getting a college degree is a financial commitment with a big impact on future earnings. New research finds that a student's major, along with their alma mater, can make a huge difference in their average salary four years after graduating.
A STEM degree"isn't what people most want to focus on when entering an institution of higher learning," Itzkowitz told CBS MoneyWatch. By four years after graduating, most grads are on their way to earning middle-class salaries, the HEA Group found. About two-thirds of college programs are producing grads who earn at least $40,000 four years after they receive their degree. However, grads from about 3% of college programs are earning less than $20,000 annually, which could lead to financial hardship, Itzkowitz noted.
The typical college grad between 25 to 64 years old has an annual income of $127,000, compared with the typical pay of $61,000 for those without a degree, Third Way found. And college grads on average have four times the wealth as workers without bachelors degrees, it noted.College majors that make the most money
Students who pursue high-paying majors at top universities add juice to their earnings, the research suggests. For instance, computer science majors who attend Harvard University have the highest pay of any college graduate, earning an average of $256,539 annual salary four years after graduation.
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