Interesting statistical numbers(note, these are 2009 numbers):
http://www.universitylanguage.com/blog/07/college-graduate-salaries-by-field-and-major/
All New College Graduates --$49,307
Computer Science Field --- $59,418
Engineering Fields --- $59,254
Business Fields --- $47,239
Liberal Arts Fields --- $36,175
Chemical Engineering --- $64,902
Computer Engineering --- $61,738
Computer Science --- $61,407
Electrical Engineering --- $60,125
Information Sciences & Systems --- $52,089
Civil Engineering --- $52,048
Finance --- $49,940
Economics --- $49,829
Accounting --- $48,993
Business Administration --- $44,944
Marketing --- $43,325
History --- $37,861
English --- $34,704
Psychology --- $34,284
Sociology --- $33,280
Data comes from NACE(National association of colleges and employers) so I expect it to better reflect reality than they payscale.com stuff.
Now, last I checked about 70% or more of our college people where majoring in Liberal Arts. This. coupled with the fact that most growing fields(by jobs) are in the more technical fields. Does this mean, we will continue to have more unemployed or poor college grads?
I know a pre-med philosophy major at Wright State. Probably an exception to the rule, but still, they're out there.
Will you stop with your obsession for what's the highest paying career? Not everyone wants to go into that rat race. And even those why happened to hold such "valuable" degrees may very well chose to so something else rather than chase money around the world.
Two facts:
1) there is little growth in jobs on "technical fields in the developed world. They could not and will not absorb even a small fraction of those liberal arts students.
2) even among graduates in technical fields there are plenty of people who won't dance to the tune of some multinational, being mover around the world as part of their "career", just for a somewhat higher wage. There are those who like that, sure, but also those who don't - people come in all kinds, and that is a good thing.
Will you stop with your obsession for what's the highest paying career? Not everyone wants to go into that rat race. And even those why happened to hold such "valuable" degrees may very well chose to so something else rather than chase money around the world.
Wait, where are math, physics, chemistry, and biology? How could this list miss those?
But we were told that everyone had to go to college and that we'd all be richer because of it. Does anyone dare question our enlightened overlords?
Will you stop with your obsession for what's the highest paying career? Not everyone wants to go into that rat race. And even those why happened to hold such "valuable" degrees may very well chose to so something else rather than chase money around the world.
Two facts:
1) there is little growth in jobs on "technical fields in the developed world. They could not and will not absorb even a small fraction of those liberal arts students.
2) even among graduates in technical fields there are plenty of people who won't dance to the tune of some multinational, being mover around the world as part of their "career", just for a somewhat higher wage. There are those who like that, sure, but also those who don't - people come in all kinds, and that is a good thing.
And this data is badly out of date. The average starting salary now for any college graduate is only $27,000.
http://www.nytimes.com/2011/05/19/business/economy/19grads.html
Well, more education probably leads to more innovation, so we know the economy isn't a zero sum game. But even if it is, more education would lead to a greater demand for less educated labor, bringing what's left of the developing world into the fold. So it's a win-win.But we were told that everyone had to go to college and that we'd all be richer because of it. Does anyone dare question our enlightened overlords?
Liberal Arts degrees are transferable to multiple disciplines...you don't need a "marketing" degree to work in marketing, for example. I have a liberal arts degree but work in a general business setting, and my salary is closer to what a Business Administration guy would be making. Most people in my department have liberal arts degrees too. Outside of maybe accounting, there aren't too many entry level business jobs you can't get with a non B school BA.
At the start and in mid career, an Engineering guy is going to make more. A really elite liberal arts major can prob outearn the Engineer by getting into management though. Its all moot, because our K12 system doesn't prepare enough candidates to become Engineers, and we don't have enough Engineering jobs open to take them all, even if we all did (plus, Engineering wages would fall if they became less scarce).
There will always be exceptions to the rule, but if you want to see how majors generally fare, you have to look at statistical averages and medians. Obviously not all LAS majors can switch to be engineers, but we could use a few less of them and a few more engineers in today's job market.
Right, but how much is a few? 25% I doubt it, unless some agree to work overseas. 15%? What happens when the rest of the business market picks up, and folks start retiring on time again?
It is frusturating that the conversation seldom turns to "how to produce more students capable of doing STEM work?". You cant plug and play History majors into Chemical Processing.
Liberal Arts degrees are transferable to multiple disciplines...you don't need a "marketing" degree to work in marketing, for example. I have a liberal arts degree but work in a general business setting, and my salary is closer to what a Business Administration guy would be making. Most people in my department have liberal arts degrees too. Outside of maybe accounting, there aren't too many entry level business jobs you can't get with a non B school BA.
At the start and in mid career, an Engineering guy is going to make more. A really elite liberal arts major can prob outearn the Engineer by getting into management though. Its all moot, because our K12 system doesn't prepare enough candidates to become Engineers, and we don't have enough Engineering jobs open to take them all, even if we all did (plus, Engineering wages would fall if they became less scarce).
It would help if the USA didn't glorify football so much and focused on Math and Science. Those subjects need to be seen as "cool" or "good" instead of the people studying them being "nerdy".
Schools and society really need to promote it more, unless they want more starving artist types. Honestly science and math education sucks in the USA.
It would help if the USA didn't glorify football so much and focused on Math and Science. Those subjects need to be seen as "cool" or "good" instead of the people studying them being "nerdy".
Schools and society really need to promote it more, unless they want more starving artist types. Honestly science and math education sucks in the USA.