Which factors contribute to the 'value' of a college major?

Hey everyone, I've seen a bunch of articles ranking the 'most valuable' college majors out there. Forbes, Bankrate, and WSJ all have their lists but I'm a little confused about how exactly they determine this value. Is it just about the potential salary after graduation? What else could they be considering?

When it comes to assessing the 'value' of a college major, there are multiple factors at play beyond just potential salary; these can vary depending on the source of the list.

1. Salary potential: This is likely the most significant factor. Lists often account for both the starting salary right out of college and mid-career salary. As such, majors with higher average salaries tend to be considered more 'valuable.'

2. Job market demand: The demand for certain majors in the job market can determine their 'value.' If there is high demand for skills specific to a major, graduates with that major could potentially have more job opportunities.

3. Unemployment rate: Majors with lower unemployment rates among graduates might be deemed more 'valuable,' as the chances of gaining employment after graduation could be higher.

4. Career growth opportunities: Some majors may open the door to industries or career paths with strong prospects for growth. A major that offers a clear and upward career trajectory might be ranked as more valuable.

5. Transferable skills: More often than not, lists consider the versatility of the skills a major instills. If a major equips students with skills that can be applied in multiple fields, it might be considered more 'valuable.'

6. Job satisfaction and work-life balance: Though harder to quantify, some rankings consider the general job satisfaction within a field, the work-life balance it offers, and the perceived societal impact of the work.

Remember, while these lists can be informative, it's just as vital to consider your personal interests, strengths, and career aspirations when choosing a major! A 'valuable' major according to these lists won't necessarily provide personal or professional value if it doesn't align with your passions or career goals.