Highest Paying Majors: How to Choose a Degree That Pays Off

Highest Paying Majors

While your college major doesn’t singlehandedly determine your future, it does play a significant role. That’s why, when viewing higher education as a means to gaining financial stability, many students set their sights on the highest paying majors. 

The highest paying degrees, whether they’re the highest paying associate degrees or highest paying bachelor degrees, can certainly contribute to financial success. They allow students to pay off student loans quicker and enjoy a lifestyle that matches their needs and goals. 

In this article, we’re going to look at everything from the highest paying majors to how to earn a high salary. Specifically, we’ll discuss: 

• The relationship between higher education and earning potential
• What is ROI and how to get high salaries
• Average salaries for college graduates
• The highest paying degrees (associate, bachelor’s, and graduate)
• The highest paying majors out of college
• The best paying jobs for different majors
• How best to leverage the majors that fit your career goals, and more!

Before we get into the best college majors to earn high salaries, let’s cover the basics. How can earning a degree affect your earning potential?

How higher education impacts earning potential 

Higher education strongly correlates with how much you earn. Of course, there are exceptions to every rule or trend. However, in general, those with higher degrees have the best paying jobs and the potential to earn higher salaries. 

For example, the highest paying bachelor degrees have a lower earning potential than the highest paying majors for advanced degree holders. And on average, those with a bachelor’s degree will make more than those with a high school diploma or associate’s degree. However, even those who earn a community college degree have a higher earning potential than those who don’t. 

Let’s take a look at the numbers from a 2024 study comparing average yearly earnings of different education levels: 

We can see that those with the highest paying degrees are those with the most years of education. Additionally, the unemployment rate for those with degrees is lower than those without. For example, the unemployment rate for those with a bachelor’s degree is 2.5%. However, for those with a high school diploma it’s 4.2%. 

The indirect benefits of higher education

The possibility to earn more money isn’t the only benefit to higher education, although it is important! Students who study in colleges and universities have opportunities to form valuable relationships that can help them in the future. Networking, mentorships, and professional development opportunities all indirectly boost income. On many occasions, the highest paying majors are the ones that connect you with people who can open doors for you. 

Certain degrees will certainly amplify earning potential more than others, making them the highest paying college majors. We’ll get into the highest paying majors and discuss the highest paying degrees by level later on. In general, however, STEM, healthcare, and business-related fields tend to earn more than others. Nevertheless, you may be surprised by some of the other majors that make the most money. 

Average college graduate salary

When considering the highest paying majors, you may wonder about the average college graduate salary. How much do most graduates make after earning their bachelor’s degree?

According to NACE, the average college graduate salary for those with a bachelor’s degree in 2024 was $65,677. That salary was up 2.2% from 2023. Those with the highest paying majors out of college will likely earn an even higher starting salary. 

Starting salaries are typically less than mid-career salaries, even among the highest paying majors out of college. As you gain more experience within your field, your salary and earning potential should increase. Here’s some data from the Federal Reserve Bank of New York showing changes from early to mid-career salaries for college graduates: 

As you gain more work experience and skills, it only makes sense that your salary will increase. Of course, the highest paying college majors have higher starting salaries than many other fields. And that salary only increases with acquired skills, experience, and promotions. 

Understanding college ROI

Return on investment (ROI) is an important factor in the context of higher education. ROI compares the total cost of earning a degree to income gained over time. The highest paying degrees have a higher ROI than other fields, which is one of the main draws to prospective students.

There is a formula students can use to determine their ROI: 

If your ROI is above 100%, this means that your degree paid for itself, and then some. If it’s below 100%, then you aren’t breaking even within the timeframe you’ve chosen (X years). If you have specific goals, consider the highest paying majors when calculating your ROI. See if a career in a certain field will allow you the lifestyle and financial security you desire by calculating your ROI. 

Remember when doing your calculations that you should include tuition, fees, housing, and books. Also, consider the interest on your loans and how that will affect your ROI. Minimizing college debt is key to maximizing ROI, whether you choose to pursue one of the highest paying majors or not. 

Of course, ROI shouldn’t be the sole consideration when choosing a major. However, as the cost of college rises, it’s no surprise students are turning to the highest paying majors to ensure their investment will pay off. Consider your expected earnings after graduation, salary potential over the course of your career, and the cost of college. This helps you to determine if a degree is worth the investment — it likely is, but your chosen field plays a pivotal role in this. Even if you choose one of the majors that make the most money, a degree itself won’t eliminate the possibility of poor career prospects.

What majors make the most money?

You may have some idea of which fields have the highest paying majors. However, there is no one path or major that will give you a high earning potential. There are plenty of careers that pay well. 

That being said, let’s take a look at some of the fields that house the highest paying majors: 

High Paying Fields

Engineering

Whether considering chemical, computer, aerospace, or electrical engineering, you’ll have a high salary. Indeed, engineering is and will continue to be among the highest paying degrees for the foreseeable future. Of course, you should be a fan of STEM if considering this major, as it’s not an easy course of study. 

Computer Science

With technology everywhere, it may come as no surprise that computer science is one of the highest paying college majors. Therefore, if you enjoy programming, data analytics, web design, and math, then this could be a good option for you. 

Business/Finance

Continuously topping the charts of the most popular majors, business seems to have endless career and earning possibilities. Additionally, those who study finance do well in terms of salaries and job availability. Business and finance are, have been, and will continue to be among the highest paying degrees. 

Math/Statistics

While this may not have been the first highest paying major to pop into your head, math majors have plenty of earning potential. Many go on to be financial analysts or professors.

Health Professions

As one of the most stable fields, with reliable job opportunities, healthcare is also one of the highest paying majors. Whether you decide to go into administration, nursing, or even become a surgeon, you’ll be able to have a high income. 

The previously mentioned fields have the highest paying majors for various reasons. Industry demand, scarcity of skilled professionals, and/or high technical or analytical skill requirements are common across industries. Of course, while these are typically the highest paying majors, your earning potential still depends on your path within each field. 

Top factors that affect salary and earning potential

While there are majors that make the most money, there are also plenty of other factors that determine income levels after graduation. Apart from your major or field of study, other factors include degree level, work experience, and geographic location. 

Here are some examples of how salary can vary, even within the highest paying majors: 

What affects salary and earning potential?

Sector

The average salary of a nonprofit accountant is $65,812 compared to a corporate accountant who averages a salary of $80,270 yearly. 

Location

A marketing manager in San Francisco, California makes an average yearly salary of $98,364. In comparison, a marketing manager in Savannah, Georgia makes $77,757.

Degree level

Computer science majors with bachelor’s degrees make $98,740 versus those with doctorate degrees, who make $114,744. 

Additionally, the company that employs you makes a difference. For example, you might have higher earning potential at a large company rather than an emerging startup. Your job role and sector (private, public, or nonprofit) will also impact pay scales. 

Top 10 Highest Paying Majors

We’ve mentioned some of the fields in which you can find the highest paying degrees. Now, let’s look specifically at ten of the highest paying majors right now.

10 Highest Paying Majors

1. Engineering

Among one of the most in-demand careers, engineers are sought after for their math and technical skills. There are plenty of routes you could go in engineering: chemical, computer, electrical, industrial, mechanical, civic, and aerospace, for example. When looking for the highest paying majors, engineers certainly come out among the top earners. For example, an aerospace engineer has an average yearly salary of $91,420.

2. Computer Science

One of the highest paying majors with an excellent job outlook is computer science. This may come as no surprise, since most of our daily tasks are now done virtually. Computer science majors need to understand programming basics, operating systems, math concepts, and computer architecture. You should have good analytical and problem solving skills for this major. The average yearly salary for a computer and information systems manager is $171,200. 

3. AI and Machine Learning

Closely related to computer science is the AI and Machine Learning major. This is a specialized field that focuses on creating systems that can learn and make decisions. Courses within the field include machine learning algorithms, computer vision, and data science. This is one of the best college majors for students with strong math and statistics skills interested in cutting-edge technology. An AI researcher earns a median salary of $99,578. 

4. Data Science

As a data science major, students will learn how to collect and manage data in order to make informed decisions. The field is interdisciplinary and requires courses in computer science, statistics, mathematics, business, and even social sciences. Students will need technical, workplace, math, and programming skills. A data scientist earns an average of $112,590 per year. 

5. Finance

Perhaps unsurprisingly, finance majors are certainly among the highest paying majors and highest paying degrees. Finance majors explore topics such as financial planning, banking, and investing. Students who choose this major tend to enjoy working with numbers and money. However, you’ll also need to have interpersonal skills to work with clients, whether that’s in large corporations or small businesses. The sector has above average job growth. To get an idea of salary possibilities, a personal financial advisor makes a median salary of $102,240.

6. Accounting

Quite closely related to finance, accounting majors focus on measuring, processing, and communicating financial information. They may work with individuals, businesses, or other organizations. Students will focus on the basics of financial reporting, auditing, tax preparation, and financial analysis. Accountants and auditors earn an average base salary of $81,680. 

7. Mathematics

One of the majors that make the most money is mathematics. Math majors study algebra, calculus, and geometry, understanding different equations and when they’re needed to solve mathematical problems. They also learn how to apply all of this knowledge to complex world problems. Depending on your major, you may choose between pure mathematics or applied mathematics. A mathematician has an average yearly base salary of $102,190.

8. Economics

Those who study economics learn how to analyze the behavior of individuals, business, and government. Courses in economics largely fall into the categories of microeconomics and macroeconomics, however students may go on to choose more specialized areas such as behavioral economics or public policy. Careers related to this major require analytical, quantitative, and communication skills. An economist can earn an average salary of $120,090. 

9. Nursing

Medical majors tend to have the best job outlook and are certainly among the highest paying majors — in particular, nursing. Nursing majors learn to deliver patient care and manage different health conditions. They need to take courses in anatomy, physiology, and pharmacology; they must also complete clinical nursing practice. Nursing majors should have patience and enjoy science, as their work relies on both heavy interpersonal communication and medical knowledge. An intensive care unit nurse has an average salary of $93,600 a year. 

10. Business

Our highest paying majors list wouldn’t be complete without mentioning a perennially popular major with a great job outlook and earning potential: business. Students who graduate with a business major can work in a variety of areas: accounting, finance, marketing, and management to name a few. Many students even opt to start their own businesses upon graduation. Of course, your job will determine your earning potential. A business consultant can earn $72,969 per year. 

Can you get a good-paying job without a four-year degree?

There is no set way to make a good living. While pursuing one of the highest paying majors may facilitate the path to financial stability, it’s not always guaranteed. These days, even picking from the majors that make the most money doesn’t guarantee a high salary. In fact, there are plenty of careers that pay well without earning a four-year degree. 

Here are some of the careers and their average annual salaries which don’t require a bachelor’s degree: 

• Graphic designer: $61,300
• Computer support specialist: $61,550
• Electrician: $62,350
• Plumber: $62,970
• Boilermaker: $73,340

There’s nothing wrong with looking beyond the highest paying associate degrees or highest paying bachelor degrees for a financially rewarding career. Experience, vocational training, and on-the-job skill development can lead to high-paying careers. There are plenty of ways to make a living without attending college.

However, since this guide focuses on the highest paying majors, we’ll focus on those. From here, we’ll continue by looking at the highest paying associate degrees and highest paying bachelor degrees. We’ll even look at the highest paying degrees at the graduate and doctorate levels, in case you’re considering further education.  

Highest paying majors by degree level

While you can pursue a bachelor’s in the highest paying majors, it’s common to see an increase in salary with further degrees. In fact, certain jobs only become accessible once someone has a specific degree. Salaries and job roles can vary widely between associates, bachelor’s and graduate degrees. 

Degree level will often help inform the depth of responsibilities you’ll manage. It can also influence the leadership opportunities available to you as well as the long-term growth potential of your career. The highest paying degrees will typically result in more long-term growth and higher earning potential. 

Some of the highest paying majors do not require a bachelor’s degree. Typically, these are fields with high demand careers in the technical or skilled trades. Some of the best paying jobs in these fields only require an associate’s degree or completion of a job-specific training program. 

Many of the highest paying majors will require a bachelor’s or advanced degree in order to secure the best earning potential. These fields include engineering, healthcare, and finance. These highest paying majors typically see a steady increase in salaries the higher the degree.  

Highest paying associate degrees

Associate degrees tend to offer highly focused skills that allow graduates to enter the workforce quickly. These programs last two years on average, though the exact length depends on the institution. The highest paying associate degrees tend to be highly technical, with very specialized skills that they teach their students. We’ve outlined the highest paying associate degrees here. 

Top Paying Associate Degrees

Radiation technology

Radiation technicians help manage diagnostic imaging machines and perform key medical tests such as MRIs. With such a specific skillset, it is often one of the highest paying associate degrees. The average salary was $78,980 in 2024, but pay can vary widely by state. 

Diagnostic medical sonography

Diagnostic medical sonographers help perform ultrasounds to various parts of the body. This role typically only requires an associates degree, allowing you to learn the skills you need quickly. With an average salary of $89,340, diagnostic medical sonography is one of the highest paying majors.

Dental hygiene

Dental hygienists are typically responsible for routine cleaning and maintenance of a patient’s teeth. While there are opportunities for further education, an associate’s degree will be enough to land you a dental hygienist role. The average salary for a dental hygienist is $94,260. 

Nuclear technology

One of the highest paying majors is nuclear technology. As a nuclear technician, you would assist engineers and scientists in various tasks within a nuclear power plant. With an average salary of $104,240, nuclear technology is one of the highest paying associate degrees. 

Air traffic control

One of the highest paying degrees across the board, air traffic control only requires an associate’s degree. Air traffic controllers help manage air traffic and ensure planes take off and land safely. With an average salary of $144,580, air traffic control is one of the highest paying associate degrees. 

While these high paying jobs may only require an associate’s degree, key strategies can help you increase your earning potential. Many of these fields will have additional certifications you can earn or new technical skills you can learn to boost career growth. You may need to maintain certain licenses or actively seek out new leadership responsibilities in these fields. Explore more high paying associate degrees here. 

Highest paying bachelor degrees

Most of the highest paying majors require a bachelor’s degree to access the highest salary ranges. Generally, bachelor degrees will combine technical skills with broader professional and analytical skills. This can help prepare graduates for leadership roles within their field. We’ve highlighted the highest paying bachelor degrees below.

Top Paying Bachelor Degrees

Nursing

Nursing is often considered one of the highest paying college majors, and for good reason. With such high demand skills, nursing is one of the best college majors in terms of job availability and long-term earning potential. STEM careers tend to be higher paying, and nursing is no exception. With an average salary of $93,600, a B.S in Nursing is one of the highest paying bachelor degrees. 

Finance

Financial analysts help guide business decisions with an eye towards long-term growth and profitability. Many financial analysts receive a degree from an undergraduate business school and often major or specialize in finance. With an average salary of $101,910, financial analysts have one of the highest paying majors out of college. 

Actuarial science 

Actuaries are like accountants, and they help identify financial risk and help businesses make informed decisions. As one of the highest paying bachelor degrees with an average salary of $125,770, actuarial science requires mathematical and analytical skills. With two of the highest paying degrees on this list, there’s no doubt an undergraduate business degree can be a great investment.

Software development

Software developers design apps, websites, and sometimes entire computer systems. With an average salary of $131,450, software development is one of the highest paying majors. And, thanks to the steady spread of technology and the demand for continual innovation, software developers have one of the highest paying majors out of college today.

Petroleum engineering 

As one of the highest paying bachelor degrees, petroleum engineers help improve oil and gas production. Students typically study chemical engineering to become a petroleum engineer. As one of the majors with the biggest demand, petroleum engineers earn $141,280 on average. This is far above the average college graduate salary and reflects the high demand of the field. 

To grow your career within these highest paying majors, you may need to seek out additional professional certifications beyond your bachelor’s degree. Additionally, many people will specialize within their field, honing specific skillsets and learning new technologies. You can also move into managerial roles once you’ve gained more experience. 

Highest paying graduate degrees

Graduate degrees often have the highest paying majors, as they offer advanced specialization and open access to executive-level positions. Graduate degrees are often the highest paying degrees for this reason, unlocking the roles with the highest earning potential within many fields. Let’s explore the highest paying degrees at the graduate level. 

Top Paying Graduate Degrees

Masters of Business Administration (MBA) 

One of the highest paying degrees is the MBA, or Master of Business Administration. The MBA opens doors to many roles and industries, and often helps people secure the highest paying roles at a company. For instance, the average salary for an operations manager is $102,950, and that skyrockets to $258,900 for chief executives. It’s clear that the MBA is one of the highest paying degrees you can get. 

Doctor of Medicine (MD)  

Requiring years of training and education, it’s no surprise that an MD is one of the highest paying degrees available. On average, healthcare jobs pay more than other industries; an MD is the surefire way to the highest income bracket available within healthcare. The average salary for a physician/surgeon is $239,200, making this one of the most valuable degrees on the market. 

Juris Doctor/Doctor of Law (JD) 

Similarly to the MD, obtaining a JD is also a great way to secure a high paying job. The average salary for a lawyer is $151,160, with even more earning potential as you advance in your career. As one of the careers that pay well, lawyers can enter a wide range of subspecialties and industries with varying pay. 

Doctor of Pharmacy (PharmD) 

A PharmD degree prepares you for a career as a pharmacist. As with many advanced degrees, the PharmD degree is considered the terminal degree within the field. This means that you’ll almost certainly need to secure additional degrees before pursuing your PharmD. With an average salary of $137,480, pharmacy is one of the highest paying majors out of college.

Master’s in Data Science (MSDS)

This degree allows graduates to obtain a wide range of high paying jobs, making it one of the highest paying degrees available. Possible jobs include Database Architect (with an average salary of $123,100) and Computer and Information Research Scientist ($140,910). This degree sets students up with foundational skills that allow them to enter a wide range of industries. 

Professionals with graduate degrees can continue to maximize their income by earning board certification or professional licensing within their field. Professionals can also develop more expertise within their field, which can help them access senior/executive leadership positions. Read about more high paying graduate degrees here. 

How to land a high-paying job

Careers that pay well are often high-demand jobs that require highly specialized skills. If you’re interested in the majors that make the most money, it’s important to build your skills outside the classroom as well. Securing targeted internships, participating in co-op programs, and building your professional network are all key in landing the best paying jobs. 

The highest paying majors can set you up for success, but a strong professional network and hands-on experience will build your career. Honing your resume and building your interview skills will be key as you pursue the highest paying majors. Be sure to highlight any measurable achievements, specific skills, and industry-related experience. 

Many of the highest paying majors will have professional associations and mentors to take advantage of. Utilizing your school’s career center is also a great way to polish your resume and practice interviewing skills. The best college majors will help set you up for professional success, so be sure to pursue every opportunity you can! 

Leveraging skills and experience for higher salaries

It’s one thing to study one of the highest paying majors, but it’s another to translate that to a high paying job. It’s important to build the correct skills and to make the right connections. The best way to do this is through professional development.

When planning your career path, try to think of how you’ll grow into the future. It’s important to understand the type of professional certificates, additional training, and licenses you may need in your future career. The highest paying majors tend to translate into well-established industries, so it’s important to build up both technical and soft skills over time. 

For example, learning more advanced coding skills can help you negotiate for a higher salary once you’ve gained some real-world experience. In addition to more technical skills, developing soft skills can help turn the highest paying majors into well-paying careers. Honing your project management and communication skills can help greatly in expanding your skillset.

As you progress in your career, it’s best to keep track of your achievements and career milestones. This can help you leverage your skills for a higher salary down the line. The majors that make the most money often see a steady increase in salary over time. That’s why it’s important to think long-term when planning your career.  

5 Tips to Maximize your College ROI

With the steady increase in college prices, it’s important to understand the investment you’re making in your education. With the average college graduate salary hovering around $50,000 for most industries, it’s well worth it to plan ahead. 

Here are our five tips for maximizing your college ROI.

How to Maximize your College ROI

1. Minimize college debt 

It’s no secret that college debt is a serious problem. The highest paying degrees often come with large price tags, leaving graduates with extremely high monthly student loan payments. It’s true that pursuing the highest paying college majors can set you up for success long-term. However, taking on a large amount of debt can hinder your overall financial health. 

Minimizing your college debt can help increase your overall college ROI, allowing you to keep more of your money. You can minimize your college debt by applying for scholarships, picking a more affordable college, or working part-time while in school. 

2. Choose the highest paying majors 

Being strategic about your major can help pay off in more ways than one. The highest paying majors may not be for everyone, but they can help you achieve financial security quickly. The majors that make the most money are often in STEM fields, but there’s high earning potential across all disciplines. At the end of the day, sometimes the highest paying majors may not be the best fit for you. It’s important to create a career roadmap for any major you’re interested in. 

If landing a higher paying job is your goal, start planning which major you’ll study early. Create a plan in high school, and make a list of schools that offer the highest paying majors in your chosen industry. 

3. Gain work experience

Typically, the majors that make the most money require students to also gain tangible work experience before landing high paying roles. Securing internships is a great way to build up your skills and resume. Many students work with their school’s career center to plan for internship applications — the earlier you start, the better! 

Internships are not the only way to turn the highest paying majors into high paying jobs. Co-op programs, where students work full-time for a semester in exchange for credits toward their degree, are another popular choice. During your college search, research experiential learning and internship programs at each institution on your list.

The majors that make the most money may also offer opportunities for students to get involved with research projects. Many even allow students to lead their own research projects. This can be another great way to gain experience outside of the classroom. 

4. Build your professional network 

Landing a high paying job is less about what you know and more about who knows you. The highest paying majors can be difficult industries to break into, so it’s important to make strong connections whenever you can. Be sure to join your industry’s professional associations to meet peers who can become valuable connections. Stay in contact with the people you meet on your internships, and make an effort to go to industry-specific networking events. 

The stronger your professional network, the better chance you have of securing a high paying role. Start as soon as you can by getting to know your professors and their work history. They can be great resources as you start building connections.

5. Keep learning after graduation 

The majors that make the most money typically require continuing your education post graduation. Some will require years of school and training after your undergraduate education. Some require additional certifications or licenses that graduates typically obtain once they gain some work experience. 

Make a list of certifications, graduate programs, and licenses that your industry requires and plan how you’ll earn them once you graduate. Will you enter a graduate program right out of school? How many years of work experience should you have before starting another program? Your plan may shift and change, but having a rough idea will help you achieve your goals quicker. 

Highest Paying Majors- Final Takeaways

While going to college can maximize your earnings, the majors that make the most money are often tied to specific industries. The highest paying majors set students up for long-term careers where graduates can expect to see a significant return on their educational investment. With the increasing cost of higher education, it’s smart to think long-term by researching the highest paying college majors you’re interested in. 

If you’re still unsure which major is right for you, CollegeAdvisor is here to help! We offer personalized, one on one college advising to help you navigate all the college admissions decisions you’ll face. Schedule a free consultation today.

This article was written by Sarah Kaminski and Jessica Klein. Looking for more admissions support? Click here to schedule a free meeting with one of our Admissions Specialists. During your meeting, our team will discuss your profile and help you find targeted ways to increase your admissions odds at top schools. We’ll also answer any questions and discuss how CollegeAdvisor.com can support you in the college application process.