Despite PayPal co-founder, Facebook funder, and venture capitalist Peter Thiel telling us we’re in an education bubble, a recent study and report by Georgetown University may suggest otherwise, with the bubble existing for only certain majors.
The Center on Education and the Workforce What’s It Worth report analyzes 171 majors in 15 categories. It tracks earnings by majors and provides key break-outs on questions of race and gender.
One key finding shows a 50% median salary difference for those obtaining a Bachelor of Science degree (Engineering, Computer Science, etc) versus a Bachelor of Arts degree (Humanities, Fine Arts, Psychology), with the former providing the highest median earnings.
The top 3 majors with the highest median earnings are: Petroleum Engineer ($120,000), Pharmacy/pharmaceutical Sciences ($105,000); Mathematics and Computer Sciences ($98,000). Lowest median salary majors include: Counseling/Psychology ($29,000); Early Childhood Education ($36,000); Human Services and Community Organizations ($38,000); Social Work ($39,000).
Select findings can be found at: http://www9.georgetown.edu/grad/gppi/hpi/cew/pdfs/whatsitworth-select.pdf