In their recently published "College Majors Handbook With Real Career Paths and Payoffs" (Jist Publishing), three economists from Northeastern University in Boston try to quantify just how much students with a variety of majors can expect to earn in their careers. The authors concluded that choosing a major was more crucial to future financial success than the college attended.What's in my pocket? Not a whole lot of cash.
One of the authors, Paul E. Harrington, an economist and associate director at the Center for Labor Market Studies at Northeastern, said that, on average, humanities and education majors fared far worse financially than students in business or engineering.
In 2002, workers with degrees in chemical engineering and accounting were on the high end, earning an average of $75,579 and $63,486, respectively. On the low end, philosophy majors made an average of $42,865 and elementary education graduates $38,746...
A danger in the Northeastern economists' research, [Peter Vogt, a career counselor in Minneapolis] said, is that it adds to the "mythology" that only dollar figures are important in choosing a field of study, and it does not account for differences in personality, aptitude, interest and values.
Update
Why go to college at all?
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