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However, when it comes to money, not all degrees are built the same. Your major largely determines your earning potential, and Payscale recently ranked majors based on alumni salaries.
Let’s take an in-depth look at the top 10 degrees, and whether the salary is going to be worth it.
(Note: Early Career Pay is the median salary for alumni with said degree with zero to five years of experience. Mid-Career Pay is the median salary for alumni with said degree with 10 plus years of experience.)
7. Economics and Mathematics
I’m not exactly sure if we’re ever going to need to trigonometry in our jobs or day-to-day life like are teachers told us, but having an advanced understanding of math helps the bank account. A person can expect to make around $60,000 a year soon after they graduate, and see a pay increase of $122,900 during the middle of their career. However, it needs to be mentioned that only 36 percent of alumni feel like they’re making a difference in the world.
According to Wake Forest, they have a program that combines these two majors and it allows students to apply mathematical methods to the development of economic theory, models and quantitative analysis...
3. Actuarial Science
This major might not reap immediate benefits compared to previous ones on this list, but it makes up for it later on. Students majoring in actuarial science can expect to make $61,200 a year after graduation, and see more than double in pay increase in the middle of their career with $130,800. A little over 40 percent of alumni say they are doing something good in the world.
Actuarial science is statistical analysis involving mathematics, statistics and financial economics.
2. Actuarial Mathematics
Actuarial mathematics is very similar to actuarial science. There is a difference in what they look at though. There is a slight pay decrease for starting salaries after graduation, but an increase when a person is in the middle of their career.
A recent graduate can expect to make $56,400 a year while receiving a significant pay increase to $131,700 later on. Almost half of the alumni feel their work is providing good in the world.
According to College Grad, actuaries working with math analyze the financial costs of risk and uncertainty. They use mathematics, statistics and financial theory to assess the risk of potential events, and they help businesses and clients develop policies that minimize the cost of that risk. Actuarial mathematicians’ work is essential to the insurance industry.
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Source: Perfectly Plain
