ATLANTA - We don't need a study to tell us that Wall Street bankers make more than teachers. But, for many jobs it's sometimes harder to tell. Let's look at what college majors are moneymakers. And those that are less lucrative.
First, let me say that a higher paying job is not necessarily the right fit for everyone. Doing what is right or following a passion may be more your thing. But, it's nice to find that job where you can strike a balance - something that makes you want to go to work in the morning and something makes your savings account happy.
Well, a millennial - a young millennial - has a blog called The Cashlorette. And she crunched some numbers: median incomes and unemployment figures. And here's what she finds. If you're good at math, well, you make more money than those of us who write for a living.
Here's her top five most lucrative college majors and they are quite specific. At the top - a petroleum engineer, then pharmaceutical science, rounding out three and four are more engineers - geological or geophysical engineering and mining or mineral engineers. Lastly, naval architecture and marine engineering.At the bottom of the list are the arts and humanities and clinical psychology is at the very bottom.
How different are the incomes for these majors? Well, let's go back to the top. Petroleum engineering, according to The Cashlorette, has a median income of nearly $134,840.88. And only a 2.8 percent unemployment rate for that job category. Let's drop to clinical psychology where a salary comes in at just more than $43,092.81. But look at this number: The unemployment figure is 8 percent. That's high.
Those STEM careers, which are science, technology, engineering and math, are where today's young people are finding bigger paychecks.
But what if it's not your thing? You don't want to spend your life doing something that you hate.
Let's say you want to be a nurse. This blog says that career is the highest ranking non-STEM job. I think it's at 36. Well follow your passion but with your mind open to expanding it down the road. Maybe taking that expertise into pharmaceutical sales and administration.
I have many friends who started out in clinical psychology and are doing quite well running their own business with therapists and others in the field working for them.