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While obtaining a college degree is often associated with higher earning potential, not every field guarantees lucrative salaries, particularly within the liberal arts domain.
A recent report by the Federal Reserve Bank of New York highlights that graduates who pursue degrees in areas such as education, social work, or the arts typically earn the lowest median incomes within five years post-graduation. This analysis focuses on full-time workers holding a bachelor’s degree, excluding those who remain in academia.
The salary insights, derived from 2023 data—the latest available—indicate that early-career earnings in these fields fall beneath the U.S. median wage of $48,060, as outlined by the Bureau of Labor Statistics.
In stark contrast, engineering graduates often see initial salaries exceeding $80,000, while many liberal arts and education majors find themselves earning around $40,000. The overall median salary for all examined majors stands at $50,000.
Below is a discussion of the ten majors associated with the lowest median salaries for full-time workers aged 22 to 27.
Studying foreign languages can provide valuable skills; however, a degree in this area does not necessarily translate to high-paying job opportunities. This trend may stem from the fact that language skills can be acquired independently and many graduates often enter lower-paying sectors, including education, translation, or public service.
Graduates with liberal arts degrees tend to earn less compared to those in technical fields like engineering or mathematics. This disparity can be attributed to the lower demand for liberal arts skills in higher-wage industries such as technology and finance.
Regrettably, many liberal arts graduates do not experience significant salary growth as they advance in their careers, particularly those in the education sector. A closer examination reveals the ten least lucrative majors for full-time workers aged 35 to 45.
Early childhood education majors report the lowest earnings among mid-career graduates, with a median salary of $49,000—merely $8,000 more than their early-career earnings five years post-college.
In contrast, engineering graduates frequently achieve six-figure salaries by the time they reach mid-career.
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www.cnbc.com