Which Degree Earns The Most Money? | EDUopinions

Which Degree Earns The Most Money?

03/07/2020

The rising cost of higher education means that you will have to choose your programme wisely. As with most students, you are likely looking for a choice of course which will give you a sustainable and well-paid career path at the end. The most valuable programmes, both short and long term, tend to be, those that fall into the STEM (Science, Technology, Engineering, and Math) fields. Business careers pay well too. In the next few paragraphs, EDUopinions is going to explore which degree earns the most money!

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5. Business Analyst

If the world of business is your calling, considering a business analyst role will increase your potential earning capacity. A Business analyst is someone who is given the task of analysing the organization or business domain and documenting its performance. He helps to guide the company in the right direction while assessing the business model.

A business analyst may be an engineer with a post-grad in marketing or someone who has studied business and marketing. This is because there is no set course for becoming a business analyst.

A business analyst may earn between $57,200 to $133,200 depending on the years of experience.

4. Electrical Engineering

Electrical engineers work to create, develop, and implement electrical equipment and systems for use across a variety of products including defence, consumer goods, communications, and energy.

Electrical engineers may earn from $72,400 to $134,700 according to their years of experience.

The highest paying industry for electrical engineers is scientific research and development and the second highest is the manufacture of semiconductors and electrical components.

To become an electrical engineer you should take coursework that makes strengthens your science and math. After which you can choose a programme to become an electrical engineer at a university.

3. Applied economics

Economics is number three on the list of degrees that earn the most money. Studying economics will help you understand the social dynamics involved in the production, distribution, and consumption of goods and services. Economists may work in federal, state, or local governments, research firms, international organizations, or even think tanks. They may also specialise in a certain area, including product costs, energy, employment levels, exchange rates, inflation, or taxes.

An economist may earn anything from $58,900 to $140,000 according to their years of experience.

To become an economist, you will need a solid foundation in maths, microeconomics, macroeconomics, and calculus. If you have all this you can pursue an economics programme.

2. Electrical engineering & computer science (or Computer Engineering)

The duties of a computer engineer are to innovate and develop computer systems. They have versatile skills in electronics and communication engineering which allow them to work in many technology industries.

Their pay ranges between $88,000 for alumni with 0-5 years of experience to $142,200 for alumni with 10+ years of experience.

To become a computer engineer, you will have to join a degree programme in computer engineering and this will require acumen in maths and science. You might also want to learn skills in computer programming as employers tend to prefer job candidates who are familiar with several programming languages.

1. Petroleum Engineering

According to Payscale, Petroleum Engineering is ranked number one on the list of highest paying Bachelor degrees according to their potential salaries. Petroleum engineers work to extract, produce, and supply oil and natural gas. They work alongside specialists to understand reservoir formations. They also specialise in different areas including completions, working on building wells; drilling, monitoring the production of built wells and other such responsibilities.

Pay ranges between $94,500 for alumni with 0-5 years of experience to $176,900 for alumni with 10+ years of experience.

To become a petroleum engineer you will need to complete a petroleum engineering program and earn a Bachelor’s degree. Plus, in high school, you need to take math and science courses. Students in petroleum engineering study subjects such as thermodynamics and geology.

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Conclusion

Now that you know about the top degrees that earn the most money, you can consider which might fit best with your skills and aspiration and get planning!

Written by
Nikita
Nikita is one of the main authors at EDUopinions, specialised in Higher Education and focused on business studies analysis. She is a digital nomad who works while travelling.
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