Many students, when applying to universities, consider not only their interests but also the 'post-graduation salary prospects' as a crucial practical factor. According to a recent study by the Federal Reserve Bank of New York on the job market performance of college graduates, engineering degrees occupy a staggering 80% of the top ten highest-earning majors within five years of graduation, highlighting the global trend toward technology and engineering fields.
The study tracked and analyzed the salaries of college graduates aged 22 to 27. It points out that while tuition for psychology or humanities majors may be comparable to that of computer science, the post-graduation return on investment differs significantly. Among all majors, computer engineering graduates stand out the most in their early careers, with a median annual salary of $80,000 (approximately NT$2.56 million) within five years of graduation.
The research team specifically noted that even within engineering, differences in specialization affect salaries. Specialized engineering fields such as aerospace engineering, electrical engineering, and industrial engineering tend to offer higher starting salaries than general engineering disciplines due to their higher barriers to entry and clear market demand. The only two non-engineering majors in the ranking are computer science at #3 (with a similar median starting salary of around $80,000) and finance at #10 (median salary around $70,000, approximately NT$2.24 million).
In contrast to the strong compensation in engineering and STEM fields, humanities and liberal arts majors show relatively weaker early-career earnings. The study reveals that theology and religious studies, performing arts, and humanities rank among the lowest-earning majors, with an average annual income of about $38,000 (approximately NT$1.21 million) within five years of graduation—nearly half that of engineering graduates.
Moreover, traditionally seen as 'golden rice bowls,' medical-related fields also show divergence in early career development. Excluding clinical medicine, majors such as biological sciences, rehabilitation therapy, and nutrition reach a maximum starting salary of around $50,000 (approximately NT$1.6 million). For comparison, the overall median personal income in the U.S. (including teenagers and those without degrees) is $45,180, indicating that medical-related fields do not hold a significant advantage in the early stages of career development.
FACT BOX
- Source: PR Times
- Category: Survey
- Organizations: Federal Reserve Bank of New York