Students don’t share the public’s skepticism about the value of college, and recent data on bachelor’s degree earnings may back up students’ confidence even more.
The Federal Reserve Bank of New York released the latest edition of its labor market outcomes by major, reflecting the latest numbers from 2024.
The median salary was $56,974 for early career workers, which the analysis defined as graduates aged 22 to 27.
Engineering programs made up the highest median wages in early and mid-career positions, with graduates earning an average $81,000-plus.
Among mid-career workers aged 35 to 45, the median salary across all analyzed programs was $87,000.
On the other hand, workers with only a high school diploma can expect to draw in $47,000.
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However, the data still pointed to some job market weaknesses for college graduates.
Despite the strong financial returns provided by computer engineering and computer science programs, each carried among the highest rates of unemployment at 7.8% and 7%, respectively. These rates were significantly greater than the average, 4.1%.
The entry-level market for web and software development has struggled with the rapid advancement of AI, leading many faculty to retool computer science curriculum around the disruptive technology.
Rising rates of jobless graduates across all industries has pressured higher education to ensure students develop broader skillsets.
Moreover, the average underemployment rate was 38.5%, meaning that one-third of graduates in any given field work at a job that doesn’t match their level of education. Most graduates in nearly one‑quarter (23%) of the majors analyzed were underemployed.
Amid these market challenges, here are some of the most lucrative—and dependable—majors.
Best wages for graduates in 2024, by major
Data from the Federal Reserve Bank of New York considers graduates’ unemployment rates, underemployment rates and their earnings. The latter is differentiated by bachelor’s degree holders early in their career and mid-career workers aged 35 to 45 years old.
| Early career wages (median) | Mid-career wages (median) | ||
| 1. Computer engineering | $90,000 | 1. Chemical Engineering | $135,000 |
| 2. Computer Science | $87,000 | 2. Computer Engineering | $131,000 |
| 3. Chemical Engineering | $85,000 | 3. Aerospace Engineering | $130,000 |
| 4. Aerospace Engineering | $85,000 | 4. Electrical Engineering | $123,000 |
| 5. Industrial Engineering | $83,000 | 5. Computer Science | $120,000 |
| 6. Electrical Engineering | $82,000 | 6. Mechanical Engineering | $120,000 |
| 7. Mechanical Engineering | $80,000 | 7. Construction Services | $120,000 |
| 8. Construction Services | $75,000 | 8. Civil Engineering | $115,000 |
| 9. Civil Engineering | $75,000 | 9. Economics | $115,000 |
| 10. Miscellaneous Engineering | $75,000 | 10. Finance | $112,000 |
Lowest unemployment, underemployment rates
| Unemployment (%) | Underemployment (%) | ||
| 1. Special Education | 0.7 | 1. Nursing | 12.8 |
| 2. Miscellaneous Education | 1.1 | 2. Aerospace Engineering | 14.7 |
| 3. Elementary Education | 1.2 | 3. Civil Engineering | 15.6 |
| 4. Agriculture | 1.4 | 4. Computer Engineering | 15.8 |
| 5. Foreign Language | 1.6 | 5. Special Education | 16.0 |
| 6. Geography | 1.6 | 6. Elementary Education | 16.2 |
| 7. Engineering Technologies | 1.7 | 7. Chemical Engineering | 17.9 |
| 8. Social Services | 1.9 | 8. Construction Services | 17.9 |
| 9. Secondary Education | 2.1 | 9. Computer Science | 19.1 |
| 10. Nursing | 2.1 | 10. Mechanical Engineering | 20.1 |
