College Major ROI: Which Degrees Pay Off and Which Don't
Return on investment analysis for college majors — median salaries by field, how to factor in cost of attendance, and how to evaluate your major choice financially.
Median Mid-Career Earnings by Major Type
- STEM fields (Computer Science, Engineering, Math, Physics): $80,000–$130,000+ median mid-career
- Business (Finance, Accounting, Economics): $65,000–$95,000
- Healthcare (Nursing, Health Sciences): $60,000–$80,000
- Social Sciences (Psychology, Political Science, Sociology): $45,000–$65,000
- Humanities (History, English, Philosophy): $40,000–$60,000
- Education: $40,000–$55,000
- Fine Arts: $35,000–$50,000
Data sources: Georgetown CEW, PayScale College Salary Report, BLS Occupational Outlook Handbook. Note high variance within majors — a computer science degree from MIT and from an unranked school have very different outcomes.
Calculating Your Major ROI
ROI formula: (Lifetime earnings with degree − Lifetime earnings without degree − Total cost of degree) / Total cost of degree. More practical: payback period = total degree cost / annual earnings premium. A $80,000 degree with $20,000/year earnings premium = 4-year payback. Generally, payback under 5–7 years is considered excellent.
High Salary Isn't the Only Factor
Job market conditions, employment rate, career satisfaction, and your specific abilities all matter. A slightly lower-paying field where you're genuinely talented and engaged often outperforms a higher-paying field where you're average. The "best" major is the intersection of reasonable earnings potential and your individual strengths and interests.