Degree

Degrees That Worth The Most Amount Of Money

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While choosing a college degree shouldn’t be entirely a matter of following the money, most students do want to know that their chosen field of study will eventually lead to a paying job. Degrees That Worth The Most Amount Of Money

But the most valuable college major probably isn’t the one you’d think. A new study finds that actuarial science majors make the most money after graduation, according to Forbes.

To determine the most valuable college majors, Bankrate analyzed 2016 data from the U.S. Census Bureau American Community Survey to see how many people with bachelor’s degrees were employed in a job related to their major. The survey looked at data related to 162 college majors, analyzing unemployment rates, incomes, and the number of people with higher degrees. These factors were weighted to show which jobs pay the most, have the lowest unemployment rates, and require the least schooling.

The data showed that people with actuarial science degrees—who go to on to become risk assessors in the insurance and finance industries, among other jobs—make an average of $108,658 a year, with an unemployment rate of just 2.3 percent. Compare that to people with a degree in something like clinical psychology (No. 160 on the list) who make an average of $51,022 and have to contend with a 4.8 percent unemployment rate.

The study also found that actuarial science is a valuable degree because most graduates don’t go on to get advanced degrees, meaning those high wages aren’t going toward paying off grad school debt. Only 22 percent of those actuarial science students went on to get master’s degrees or doctorates.

Below are the 10 most valuable degrees and their average annual incomes. These jobs pay, on average, between $96,000 and $165,000 a year.

 

10. Finance Manager

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Finance managers develop and monitor departmental budgets. They make relevant financial forecasts for their company. They work with other managers and their staff to establish their company’s future budgets. Their department keeps track of ongoing expenses to make sure that they are not over the budget.

Salary: $47,114 – $137,333

 

9. Civil engineering

Civil Engineering

Civil Engineering

Most of the time, civil engineers design, plan, and/or manage construction projects. Their job ranges from small-scale projects, such as building or bridge repairs, to very large-scale, such as building large stadiums. Civil engineers may work in many sectors, such as structural, environmental, and transportation.

Salary: $48,586 – $99,598

 

8. Mechanical engineering

Engineer working plane

Engineer working plane

Mechanical engineers participate in the planning and manufacturing of new products by performing engineering duties and developing, designing and testing mechanical devices. Job requirements include either a bachelor of science in mechanical engineering, a master of science in engineering, or a related degree.

Salary: $50,509 – $99,905

 

7. Molecular biology

Microbiologist

Microbiologist

Mechanical engineers participate in the planning and manufacturing of new products by performing engineering duties and developing, designing and testing mechanical devices. Job requirements include either a bachelor of science in mechanical engineering, a master of science in engineering, or a related degree.

Salary: $36,688 – $98,351

 

6. Pharmacy

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Pharmacists work primarily for pharmacies and drugstores; however, hospitals and medical clinics may employ their own pharmacists to dispense drugs directly to patients. Pharmacists who work for hospitals must analyze both in-patient and out-patient medication, so close attention to detail is very important in this position to ensure the accuracy of filled prescriptions.

Salary: $84,993 – $137,246

 

5. Applied mathematics

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Applied mathematics is the application of mathematical methods by different fields such as science, engineering, business, computer science, and industry. Thus, applied mathematics is a combination of mathematical science and specialized knowledge.

Salary: $59,684 – $132,146

 

4. Health and medical preparatory programs

Human Services and Community Organization

Medical Officer for Canadian Forces

Healthcare consultant handles a number of responsibilities for clients, including conducting research to identify problems, researching possible solutions to the problem, observing and talking with employees and managers, writing reports, and conducting meetings with clients to share solutions.

Salary: $49,621 – $141,256

 

3. Nuclear engineering

Nuclear Engineer

Nuclear Engineer

Nuclear engineers are in charge of successfully completing nuclear engineering tasks for their organization. They develop and execute complex model interactions, use innovative computational methods to predict effects, and assess risks, as well as static and dynamic events. They must have advanced knowledge of nuclear engineering principles and their proper use while following strict safety

Salary: $$61,811 – $136,506

 

2. Zoology

zoologists

Zoologists

Zoologists are scientists who study living organisms, specifically animals (some specialize in particular types of animals), and they are employed primarily by universities, wildlife agencies, zoos, and other special attractions. This position often requires working in an outdoor environment, and some travel may be required. Their hours will depend on the hours of their organization, and overnight or weekend shifts are not uncommon.

Salary: $29,880 – $137,560

 

1. Actuarial science

data scientist

data scientist

Actuaries play a key role in insurance companies by serving as analysts who help determine whether the company should issue an insurance policy and what the premium for that policy should be. They use a great deal of statistical analysis in their work, as they examine huge amounts of data related to costing and trends.

Salary: $50,070 – $165,802

 

 

Sources: Payscale | Bankrate

Emily Wilson

Emily Wilson is 3rd-year University student at Brigham Young University and  Financial Writer for University Magazine and Edmonton Gazette

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