While academic major is one of the strongest predictors of earnings post-graduation, so too is location.
Median earnings for recent graduates within these majors is $70,000 per year, or about 40 percent higher than the typical graduate. The highest-paying majors for recent college graduates are computer science and several types of engineering degrees, such as chemical, computer, and electrical. However, some fields of study pay off much more than others. College graduates seeking employment last spring faced the worst job market since the Great Depression, and it remains to be seen how wages will be affected in the coming years.Īttaining a bachelor’s degree boosts earning potential by a large margin-median annual earnings of recent college graduates is about $20,000 more than workers of the same age with only a high school diploma. What’s concerning is that the $50,000 annual wage figure for 2020 is from survey data collected in March of last year, so it does not adequately reflect the impact of the COVID-19 pandemic. The good news is that while the median wage for recent graduates (adjusted for inflation) has fluctuated over the last several decades, the number hit a new peak last year, climbing by nearly $4,500 from 2019 to 2020. However, the number varies widely by city, college major, and occupation, among other factors. According to the latest data from the Bureau of Labor Statistics (BLS), median earnings for recent college graduates working full-time is approximately $50,000 per year. Over half of young adults who attended college incurred some debt, with typical levels of student loans in the range of $20,000 to $25,000 post-graduation. As college education costs climb higher, landing a well-paying job after graduation is even more important than ever before.
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