If you’re forced to take out college loans and want to pay them off quickly, you might avoid getting a degree in theology or social services.
Those two degrees pay, on average, the least of any majors for recent college graduates, according to a new study by the Federal Reserve Bank of New York.
Recent theology graduates earn, on average, $36,000 annually; graduates with degrees in the field of social services earn an average of $37,000; ditto for those with degrees in family and consumer services.
A recent college graduate is someone between the ages of 22 and 27, with a bachelor’s degree or higher, according to the study
Chemical engineers came out tops in the study of 73 majors, earning, on average, $75,000 early in their careers. Next in line were computer engineering graduates, earning, on average, $74,000, followed by computer science graduates, earning $73,000.
Midcareer chemical engineers — those 35 to 45 years old, are still earning more than folks working in any other field, with an average annual salary of about $120,000. Computer engineers are close behind, earning about $114,000 on average.
The average salary for all early college graduates is about $50,000, rising to $75,000 by midcareer.
Other higher earners include mechanical, electrical, aerospace and industrial engineers.
To see the complete study, go to https://www.newyorkfed.org/research/college-labor-market/index#/outcomes-by-major.
