Getting your bachelor’s degree is a significant investment of time and money. Hence, picking the right major will influence your chances of securing some of the best-paying jobs in the employment market.
According to the US News and World Report, the average cost of tuition and other related school fees at public four-year colleges was US$10,388 for the 2020-21 academic year. At private colleges, the average tuition peaks at US$38,185 annually.
One research suggests that studying abroad positively affects graduates’ early-career wages. However, this effect will vary across different groups of graduates and employment contexts.
As the cost of living continues to rise and wage stagnation becomes a persistent issue, it’s little wonder many are looking for majors that can land them jobs with high starting salaries for fresh graduates.
Look no further. Consider these five courses that will lead to the best paying jobs according to the College Salary Report by Payscale:
Best-paying jobs with a bachelor’s degree, according to Payscale
1. Interaction Design
Early career pay (alumni with zero to five years of experience): US$68,300
Mid-career pay (alumni with more than 10 years of experience): US$155,800
A career in Interaction Design or User Experience (UX) Design has many benefits. You will work in a rapidly evolving field at the intersection between behavioural psychology and technology. As a UX designer, you can expect to be involved in creating various digital products and enjoy benefits like flexible working hours and remote working.
The demand for UX designers is also steadily increasing. Linked has ranked UX design as one of the top five skills in demand for 2020, while Glassdoor added it to their list of best 50 jobs in the US for 2022.
2. Public Accounting
Early career pay: US$59,800
Mid-career pay: US$147,700
While automation has threatened to decrease the need for many jobs, the demand for financial experts with critical thinking and analytical skills remains — which is comforting for those interested in pursuing a career in public accounting.
A role in public accounting can cut across numerous sectors, including government, public, private, and non-profit organisations. These opportunities not only ease your job hunt, but likely lead you to a gig with higher pay too.
3. Business Computing
Early career pay: US$73,000
Mid-career pay: US$143,600
In this digital age, businesses need people who can understand and analyse data for consumer research, marketing, and social media.
A business computing degree equips you with the fundamentals of computer science while focusing on the different technologies a business would typically require. Once you have a solid base of knowledge across all these areas, you can choose to become a consultant, project manager, or technical support officer.
4. Applied Economics and Management
Early career pay: US$66,100
Mid-career pay: US$146,400
Like public accounting, a career in economics and management is versatile and fulfilling. Upon graduation, you’ll learn specific technical skills such as transfer pricing, predictive analysis, and how to measure business cycles to tackle real-world economic issues.
An applied economics degree can lead you to a career in government agencies or a role as a management consultant.
5. Actuarial Mathematics
Early career pay: US$64,300
Mid-career pay: US$143,400
Last but not least, we have actuarial mathematics — a degree that prepares students to be professionals who use mathematical models to analyse and solve financial problems.
While an actuarial mathematics degree can help increase your chances of passing the actuarial exams and becoming a fully qualified actuary, you can venture to work in other fields too, thanks to your solid knowledge in mathematics, statistics, finance, and accounting.