Which college majors offer the best long-term return on investment?
Summary
A study of Texas public college students found that college graduates earn more money over 15 years than those without a degree, even after subtracting college costs. Engineering and architecture majors made the most money, but even liberal arts graduates earned more than non-degree holders.Key Facts
- The study tracked about 29,000 students who started college in 2008-09 and followed their earnings for 15 years.
- College graduates earned on average $87,000 more than high school graduates after costs like tuition and lost income were subtracted.
- Engineering and architecture majors had the highest financial returns from their degrees.
- Liberal arts graduates earned about $35,000 more than non-degree holders.
- Most associate’s degrees (two-year programs) also increased earnings, with construction trades having the best payoff of about $72,000 over 15 years.
- Some two-year degrees, like culinary services and logistics, showed a net loss in earnings.
- Certificate programs had mixed results, with construction certificates showing gains but several fields, including social sciences and IT, showing losses.
- The study’s results are specific to Texas and may differ in other states due to economic and training differences.
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