Choosing the right college major is more than just a question of passion — it’s a financial decision that can shape the rest of your life.
Today, the average annual cost of college comes in around $38,270, and one in six American adults has federal student loan debt.
From artificial intelligence to the growing demand for renewable energy, major global shifts are reshaping the job market.
So, to help incoming college freshmen choose their classes wisely, Student Choice analyzed data from the Bureau of Labor Statistics to identify which degrees offer the highest financial payoff just five years after graduation.
As technology is advancing, STEM (Science, Technology, Engineering and Math) fields have expanded and continue to be in high demand.
These fields are not only high-paying but also rapidly growing, driven by automation, data expansion, and a global focus on health and sustainability.
To calculate which degrees offer the best bang for your buck, Student Choice multiplied the average annual cost of college ($38,270) by four, totalling $153,080.
They compared it against the median wage earned in each job after five years in the workforce and multiplied it by 100 for a “Return On Interest” percentage.
The findings revealed that those with an engineering degree had the best ROI percentage on average.
| Degree Types | Median Annual Wage of Workers With This Degree | Total Median Wage Earned After 5 Years | ROI After 5 Years | |
|---|---|---|---|---|
| 1 | Engineering | $100,000 | $500,000 | 326.6% |
| 2 | Computer Science & Computer Information Technology | $95,000 | $475,000 | 310.3% |
| 3 | Nursing | $86,000 | $430,000 | 280.9% |
| 4 | Accounting | $80,000 | $400,000 | 261.3% |
| 5 | Biochemistry | $76,000 | $380,000 | 248.2% |
However, when broken down by specific occupation — and not just degree type more broadly —some creative jobs managed to pay better.
Surprisingly, many creative careers still hold a strong ROI, with some even outpacing traditional STEM careers.
While this information to be taken into consideration when choosing a degree, the experts note that a career should bring not only financial stability but also personal fulfillment.
Balancing your goals, values, and interests is essential when choosing a major — especially in a workforce where a quarter of Americans are burnt out before they’re 30.
| Occupation(s) | Median Annual Wage of Occupation (2023) | Total Median Wage Earned After 5 Years | ROI After 5 Years | |
|---|---|---|---|---|
| 1 | Computer and Information Systems Managers | $169,510 | $847,550 | 553.7% |
| 2 | Advertising, Promotions, and Marketing Managers | $156,580 | $782,900 | 511.4% |
| 3 | Aerospace Engineers | $130,720 | $653,600 | 427.0% |
| 4 | Public Relations and Fundraising Managers | $130,480 | $652,400 | 426.2% |
| 5 | Software Developers, Quality Assurance Analysts, and Testers | $130,160 | $650,800 | 425.1% |
Student loan debt remains a major hurdle for millions of Americans, with over $1.6 trillion in federal student loan debt currently owed by 43 million borrowers.
Still, a degree that aligns with your strengths and passions is more likely to lead to long-term career satisfaction versus simply choosing based on money.
To help students, the experts from Student Choice suggest estimating ROI for your degree and college, exploring scholarships that improve affordability and understanding student loan forgiveness programs to understand all your best options.
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