Return on Investment for College Degrees

Hi, I'm a bit curious. You see, Forbes has a list of most valuable college degrees. It seems like STEM majors are always up there, but are these degrees really the best in terms of return on investment? Should I let this list influence my choice of major, or should passion be the ultimate determinant?

Thinking about the return on investment for your college degree is a savvy approach. It's true that STEM (Science, Technology, Engineering, and Mathematics) majors often top the list of highest-earning degrees. They tend to lead to jobs in high-growth industries like tech or healthcare, which often offer more competitive salaries.

However, it's also important to consider your interests and strengths. If you're passionate about writing, for example, you might not enjoy or succeed in a major like computer science, even if it potentially leads to a high-paying job. You might be happier—and more successful—pursing a career path that matches your skills and passion.

Factors such as the school you attend and your individual abilities and interests can also drastically affect the return on a degree. For instance, graduating from a highly selective school can boost the earning potential of any degree due to the strong network and name recognition, and individuals with strong skills in communication, leadership, or creativity can often find successful careers regardless of their major.

Your college major does not exclusively determine your career path. Many careers don't care about your undergraduate major; they value skills, experiences, and the ability to learn quickly. For instance, it's not uncommon for someone to study philosophy, develop strong analytical and thoughtful communication skills, and then learn a ton on the job in a business development role after college.

Let's take an example: An English major might not have as high an immediate salary as a software engineer, but strong writing skills are incredibly valuable and versatile. They can lead to opportunities in diverse fields like marketing, journalism, law, or teaching.

Selective colleges often emphasize the importance of a well-rounded education, and many students who study the humanities or social sciences are able to develop transferable skills that employers in many sectors find valuable.

In sum, while ROI is a practical factor to consider when choosing your major, it should not be the sole determiner. Instead, try to find a balance between your interests and market demand, and look for majors that would both keep you engaged and open doors for you post-graduation.