What are the 10 highest-paying college majors in 2023?
Choosing the right college major can be a great investment. Here are the 10 university degrees that lead to the highest average salaries in the US in 2023.
Choosing a college major can be a great investment when you think about what your future earnings could be after graduating. The area of study can make a big difference in the average salary when you finish your university studies.
Here are the 10 college degrees with the highest average salaries in the United States.
READ ALSO: Minimum wage increase for fast food workers
What are the 10 highest-paying college majors in 2023?
Generally speaking, if you are looking for a field of study that historically produces well-paid graduates, an engineering degree might be your best option.
Personal finance website Bankrate analyzed the most recent census data on graduates ages 18 to 77 who were in the workforce and employed or looking for work to determine the top 10 options.
Electrical engineering and computer engineering top the rankings for careers with the highest median salaries, according to a recent Bankrate analysis of data from the Census Bureau's American Community Survey.
In third place are careers related to pharmacy, pharmaceutical sciences and administration. These are the careers with the highest average salaries:
- Electrical engineering
Average salary: $110,000 - Computer engineering
Average salary: $104,000 - Pharmacy, pharmaceutical sciences and administration
Average salary: $100,000 - Chemical engineering
Average salary: $100,000 - Computer Science
Average salary: $100,000 - Aerospace engineering
Average salary: $100,000 - Materials engineering and materials science
Average salary: $98,500 - Mechanical engineering, physics and science
Average salary: $95,000 - Mechanical engineering
Average salary: $95,000 - Industrial and manufacturing engineering
Average salary: $90,000
READ ALSO: The top 10 highest paid YouTubers in the world
The following majors with the highest average salaries are: Physics, Electrical Engineering Technology, Petroleum Engineering, and General Engineering, all with an average salary of $90,000.
They are followed by Management Information Systems and Statistics and Civil Engineering, with an average salary of $89,000. After that, Medical and health preparation programs, with a salary of $87,000.
Finally, Applied Mathematics, Economics and Transportation Sciences and Technologies, with a salary of $85,000.
78% of those with the 20 most lucrative college degrees are men
Bankrate's analysis was focused on showing the gender gap in careers with the best salaries. According to the study, 78% of those who hold the 20 most lucrative university degrees are men.
Engineering and computing, two of the most high-paying fields, remain heavily dominated by men. Only 15% of electrical engineering graduates and 19% of computer engineering graduates are women.
Of the 20 careers with the highest incomes, the only ones that are not strongly dominated by men are pharmacy, pharmaceutical sciences and administration (56% of women compared to 44% of men) and programs of medical and health preparation (46% women vs. 54% men).