The 10 Highest-Paying College Majors of 2020

Have you ever wondered why we go to schools and colleges? What is the ultimate goal of studying and achieving a degree? The time you grow up and start going to college, you will have people talking about careers and the future all the time. Have you ever thought about why? Did you ever think of why we get to hear about the importance of personal development often?

Sometimes in life thinking a different way and thinking from different angles can change your perception towards a lot of things. And this is extremely crucial to have your mind around various aspects of life. Listening to the new generations' thoughts and changing your perceptions according to the need of the time is a secret way to stay updated throughout your life. This will help you especially when you grow a bit older and you have new generations around you. If you are not updated then, the new generations will find you boring and it gets harder to get close to them. It is the same as the fun and pleasure you get using the updated version of the phone versus using the same old version with old features.

Now let's get closer to our main target for today.

When you graduate from a high school, it gets challenging for you to decide what colleges are best for you and what colleges can offer you your desired degree with an affordable tuition fee. Searching for the one that matches you can sometimes get very time consuming and you end up seeking help from a third person.

Following the challenge of finding the colleges, the challenge for finding the best major continues. Later, when you are pursuing your degree or about to graduate, you will find it even more challenging to find internships and jobs and you should be searching for different ways to prepare for internships and jobs the day you start going to the school.

Therefore, by now you must have figured out what the ultimate goal of going to the schools and colleges is. We have been taught that we go to colleges to gain knowledge and to understand the importance of education in our life. But is it the ultimate goal?

Well, honestly speaking, no it is not what we look for in our life. After graduation, what we go after is a job that can help us earn money. Therefore, the ultimate goal is to earn money and to have a life that makes you happy and satisfied. There is no use of your education and the hard work that you do for several years in colleges regarding projects, assignments, and exams if you can't earn money after you graduate.

It is a different part of the story that not everyone looks for a job once they graduate. Some people do their own business establishing a physical company while others look for ways to implement their knowledge in finding various ways to earn money online. It is all about what we prefer and what gives us satisfaction.

Reading the information provided above before jumping into the main topic often gives you ideas about various other things that you might not have ever thought of. Now let's move on to what majors can pay you the best after you graduate.

Related: How To Prepare For Internships, Jobs And Where To Find The Job Postings

Which major gets paid the most?

1.Petroleum Engineering


Petroleum Engineering is the highest paid major in the world. The advanced tools and technologies used in the oil and gas industry have helped the world run faster in the context of development. It shows how fast the world is marching towards digitalization and modernization.

If you are thinking of pursuing Petroleum Engineering just because it offers you the highest paid job then, you are wrong. Before you think of it, it is extremely crucial to know what Petroleum Engineering is, it's the importance, and its branches. You need to have a passion and the feel for the oil and gas industry to successfully lead as a Petroleum Engineer.

In any field you put your hand on, including Petroleum Engineering, your salary gets raised depending upon the years of experience you have. The more experience you have, the higher you get paid. The initial starting salary of a petroleum engineer with less than five years of experience ranges anywhere between $70K to USD 150K annually. An experienced Petroleum Engineer with more than ten years of experience, in most of the cases, earns between 150K to 250K annually. Though the salary that you get mostly depends upon your years of experience, it is important to know that it also depends upon the location where you will work.


2.Computer Science and Computer Engineering


Computer Science and Computer Engineering major is the second highest paying major in the world. From watching movies using your laptop to writing codes and working professionally creating software and making websites, almost every operation in the world cannot be executed successfully without the use of a computer. It has become the core heart of development and modernization that leads to the top inventions of the world.

Starting as a computer Science or a computer engineering major, on average, you get paid anywhere between $70K - USD 140K. The computer field mostly relates everything with coding. To have a secure career in the computer field, you should know about the various most demanded programming languages, and the best ways to learn programming languages is always the hardest to find.

Remember, the sooner you start coding, the higher your chances of grabbing opportunities in the computer field.


3.Chemical Engineering


Chemical Engineering is one of the most popular majors you get to hear in today's generation. Chemical Engineering deals with the different methods of producing chemicals and manufacturing the products using these chemicals. Moreover, it also deals with designing techniques of mixing, constituting, and processing raw materials into useful products.

Starting your career as a Chemical Engineer, you can earn around 60K - 120K. This range includes bonuses, commissions, and also profit sharing. If you want to explore your ideas of chemistry and want to provide the world with valuable products then, it is probably the bay major for you to pursue.

Related: External Scholarships For Both International Students As Well As US Residents


4.Actuarial Mathematics


The knowledge of mathematics and statistics is very crucial in any field you pursue in your life. If you are a pro in playing with numbers and statistics then, Actuarial Mathematics is for you. This major utilizes the knowledge of mathematics and statistics in determining the risk factors associated with economy, finance, and insurance-related to various fields.

Pursuing an Actuarial Mathematics major you can earn from 60K to 100K USD as a starter in the field. And as your experience builds up with the time, you can earn from 150K to 200K USD. It's a whole lot of money, isn't it?


5.Electrical Engineering


Electrical engineering is the major that deals with the designing and development of the equipment that uses electricity and electromagnetism as a core principle. As an electrical engineer, you can get a job in a wide range of fields and companies where circuit theory and other principles of electronics are used.

Initially getting a job as an electrical engineer, your salary can range from 55K to 100K. On average electrical engineers get paid 75K USD and it of course can vary according to the companies and its physical locations.


6.Applied Economics and Management


Applied Economics and Management is a very important major that plays a huge role in all the companies, especially the ones operating with a high investment of millions and billions of dollars like oil and gas companies. Pursuing this major can prepare you with the strategies in dealing with real-world problems by utilizing statistics and economic principles.

The starting salary for the ones pursuing Applied Economics and Management major can range from 50K to 100K USD. On average a starter in this field earns around USD 58K with a varying salary according to the company they work for.

Related: Artificial Intelligence - The Future Ruler of The World


7.Aeronautics & Astronautics


Aeronautics & Astronautics is one of the coolest majors someone can pursue. It deals with robotics, drones, spacecraft, and other various tools and techniques that will most probably capture the whole world sometime in the future.

The starting salary of Aeronautics & Astronautics major starters from around 70K to 110K. As the experience builds upon average Aeronautics & Astronautics majors earn 131K USD as a mid-career pay.


8.Political Economy


A Political Economy major deals with political trade and laws and customs associated with it. We hardly find someone pursuing this major as commonly people are into civil engineering, electrical engineering, Petroleum Engineering, and other fields. Yet, it lies among the top 10 highest paying majors of the world. Often, the ones who are silent are more dangerous.

A person pursuing a Political Economy major can earn up from 50K to 80 K USD with an average earning of around 60K USD. The ones with 10+ years of experience earn the average income of 135K USD annually.


9.Operations Research


Operation Research is a major that deals with the technique of problem-solving and decision making involving researches in different fields and areas. This major teaches the most important aspect of life which is doing research. The habit of solving problems involving research is the best way to be independent in your life. This major involves three central aspects of all the operational research and they are optimization, simulation, and probability. Optimization involves numerous ways by which we can increase the performance of our activities while simulation, involves the process of building models that help in visualizing our work, and subsequently, probability uses the mathematical and statistical analysis to predict the possible solutions.

In your early career pursuing Operations Research, you can earn around salary ranging from 55K to 85K USD with an average salary of 70K USD. Succeeding in your mid-career, your pay can bounce up to 135K USD.


10.Pharmacy


The pharmacy filed involves various specializations such as clinical pharmacy, industrial pharmacy, compounding pharmacy, consulting pharmacy, ambulatory care pharmacy, etc. All these specializations cover various topics of the pharmacy major. It depends on you which major you want to pursue. But overall, pharmacy is the major dealing with specializing in the use of medicines by deeply studying the composition, effects, and effective ways of using those drugs.

The pharmacy major can earn around 80K in their starting career which is a good sum of money as a starter. Later in their mid-career, their earnings can range from around 120K to 155K USD with an average aground 130K USD. If you are interested in medicines then, this is most probably the best major to pursue.


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