New study shows income is closely tied to choice of major. Your barista agrees.

Discussion in 'Business, Careers & Education' started by FLMountainMan, May 25, 2011.

  1. munchausen

    munchausen Senior member

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    Didn't read all of that, but are they factoring out anyone with advanced degrees and professional degrees? Because that would really skew, say, biology's average considering that a good percentage of them go into medicine and (I would assume) most people who do well in undergrad biology would continue on into graduate programs. What does one do with an undergrad degree in biology? Not a rhetorical question, I actually don't know.
     


  2. Gibonius

    Gibonius Senior member

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    Didn't read all of that, but are they factoring out anyone with advanced degrees and professional degrees? Because that would really skew, say, biology's average considering that a good percentage of them go into medicine and (I would assume) most people who do well in undergrad biology would continue on into graduate programs. What does one do with an undergrad degree in biology? Not a rhetorical question, I actually don't know.

    I don't think that they are excluding people who go on to do advanced degrees, at least judging from the numbers for chemistry. This study shows a $55k average for chemists, but the American Chemical Society says that a BS in Chemistry only averages $40k. To get up to 55k, seems like graduate degree earners would have to be included.
     


  3. patrickBOOTH

    patrickBOOTH Senior member Dubiously Honored

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    Well, clinical psychology is an actual medical profession (with attendant wages) and requires a medical degree.

    But yeah, taking a 4-year psych degree and then stopping is not the best way to have a lucrative career. On the other hand, I know a lot of people working in journalism or education who love their jobs and pity corporate lawyers and financial managers who work 80 hours a week and have no life, vacation, or hobbies.


    Clinical psychology doesn't require a medical degree, it requires a ph.d or a psy.d. A psychatrist requires a medical degree.
     


  4. unjung

    unjung Senior member

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    As pointed out, this is a pretty silly study. Everyone knows you don't make a killing with just a BA in English or BSc in chemistry. You need the grad degree. Conversely, engineering is essentially a professional program complemented with coops and so on, and then a three year (in Canada) on-the-job training program, so it's totally different. It's hella harder as well. If a freshman English major doesn't go on to their second year, it wasn't because the program was too hard. Business is a totally different beast. It should be obvious why they make more money. And they don't all make more money. Lots of underemployed marketing grads out there.

    I have a BA in psych and work in finance so YMMV.

    Clinical psychology doesn't require a medical degree, it requires a ph.d or a psy.d. A psychatrist requires a medical degree.

    Correct.
     


  5. patrickBOOTH

    patrickBOOTH Senior member Dubiously Honored

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    I have a BA in psych and work in finance so YMMV.



    Correct.


    I majored in Finance and I had a psychology minor. I almost double majored, I thought about industrial organizational psychology and behavioral finance. I lost interest. Now, I do financial work, but not in the finance industry.
     


  6. Gene Parmesan

    Gene Parmesan Active Member

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    As an Economics undergrad at a top UK university, it's funny seeing pretty much everyone I know, at the age of 20/21, getting job offers with starting salaries in the region of £45,000 (~$75,000 given the current exchange rate, but it corresponds to a little bit more than that in reality). Pretty crazy money, and makes you realise how fortunate you are.
     


  7. KPO89

    KPO89 Senior member

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    Your career is like marrying for love or money...

    Love: education, journalism, etc.

    Money: Law, Comp Sci, could argue business

    I would assume there is a dramatic inflation of these numbers now that college education is so cheap and practically attainable by all.
     


  8. bringusingoodale

    bringusingoodale Senior member

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    This article is perpetuating the myth that a college education will guarantee gainful employment or big bucks, even if it isn't its intent.

    I'd like to see one of these analysis compare what a tradesman makes. I know people who never went to college and learned HVAC, worked second jobs and made savvy investments and are now worth way more than any one I know who holds a bachelor's.
     


  9. unjung

    unjung Senior member

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    Clinical psychology doesn't require a medical degree, it requires a ph.d or a psy.d. A psychatrist requires a medical degree.

    This article is perpetuating the myth that a college education will guarantee gainful employment or big bucks, even if it isn't its intent.

    I'd like to see one of these analysis compare what a tradesman makes. I know people who never went to college and learned HVAC, worked second jobs and made savvy investments and are now worth way more than any one I know who holds a bachelor's.


    All depends on where you are. I graduated from high school with kids who owned vacation homes and Porsches at 25, all because they went into welding in the oil patch. That said, some of them are ass-deep in debt.
     


  10. 1969

    1969 Senior member

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  11. joelmthw

    joelmthw Senior member

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    most girls go to college to get that MRS degree anyway
     


  12. Dashaansafin

    Dashaansafin Senior member

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    I love people who tried to convince me to become a psych major.


    "Omg you learn how people THINK! You can then manipulate them and then take control of them! This is your path to the big bucks and business!!!111!!!

    So retarded.
     


  13. thenanyu

    thenanyu Senior member

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    Your career is like marrying for love or money...

    Love: education, journalism, etc.

    Money: Law, Comp Sci, could argue business

    I would assume there is a dramatic inflation of these numbers now that college education is so cheap and practically attainable by all.


    That's like not true at all.
     


  14. otc

    otc Senior member

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    I'd rather see lifetime earnings figures (with school costs subtracted)--some professions have very different salary ramps (especially if you spend a bunch of time getting a phd, doing a post doc, and turn 33 before you start earning more than a stipend).

    Also why no econ? It is definitely not the same thing as business and it would be a shame to include it in "social sciences"
     


  15. StephenHero

    StephenHero Black Floridian

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    I doubled majored in pottery and unemployment.
     


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