The 5 Best-Paying Jobs Right Out Of College — And The 5 Worst, According To The New York Federal Reserve
As you might expect, science kids have it made. Artsy kids? That's another story…
dimaberlinphotos | Canva Pro Picking a major is a huge decision for many college students. In today's cutthroat job market and nerve-wracking economy, figuring out which direction to go in can be incredibly daunting.
Thankfully, the federal government actually tracks things like employment rates and salaries for various degree fields in the American economy, and the data compiled can provide a helpful guide for students trying to map out their futures.
Here are the 5 best and worst-paying jobs out of college, according to New York Federal Reserve data.
Choosing a major and career path can be an incredibly intimidating task — many students feel like it's a make-or-break decision that locks them onto a path they are powerless to deviate from. The truth is, of course, that most people don't even end up working in their degree field. Less than half of us do.
Of course, there are also many different factors to consider when picking a career path, from job stability to what aligns with your passions and beliefs.
But if you're the type of person for whom money is top of mind — and in today's economy, who can blame you? — the Federal Reserve Bank of New York's 2024 report on the labor market for recent college graduates provides a glimpse into where the most lucrative future may lie.
The 5 best-paying jobs right out of college are all in STEM fields.
As you've likely heard ad nauseum in recent years, the Federal Reserve of New York found that careers in the sciences, technology, engineering, and mathematics have the highest median salaries for what the Fed calls "early career graduates" — those between the ages of 22 and 27.
1. Computer engineering
It's no surprise that technology is at the forefront regarding starting salaries — we all know how Silicon Valley works. And when it comes to tech, computer engineering is where the money is. The Fed found a median early career salary of $80,000 for people in the field.
This field focuses on the design and functionality of computer hardware and software, combining computer science concepts with electrical engineering to help create everything from smartwatches to manufacturing equipment.
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2. Chemical engineering
This might be your path if you aced that high school chemistry class. Chemical engineers design chemicals and the production processes for which they're used, and they work in a seemingly endless number of fields, from food production and pharmaceuticals to fuels and biological processes.
And for creating the next cure for an ailment or alternative fuel, they are handsomely rewarded with an early-career median income of $79,000.
3. Computer science
Where computer engineering is all about hardware and operations, computer science is all about the theoretical parts of tech, from design aspects to the algorithms that make tech work.
The field has an early-career median income of $78,000, competitive with its more hands-on computer engineering colleagues. However, the field has nearly double the unemployment rate, at 4.3%, versus computer engineering's 2.3%.
4. Aerospace engineering
If designing planes, spaceships, and the various systems related to how they function sounds compelling, this is the field for you. Aerospace engineers focus on designing, developing, testing, and maintaining technologies used in aviation, defense, and spacecraft systems.
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Early in their careers, aerospace engineers pull down a median salary of $74,00 — but be aware that the field has an unemployment rate more than double the national average, at 7.8%
5. Electrical engineering
As you might have guessed, this field focuses on electricity, electronics, and electromagnetism. Electrical engineers design everything from the circuitry in an airplane cockpit to the nodes of a power grid.
Given that this work is basically the foundation of… well, everything nowadays, early career graduates also bring home solid bacon—a median salary of $72,000 and a low unemployment rate.
The 5 worst-paying job fields right out of college are mostly creative and educational.
Surprise! Fields like the arts, philosophy, and the all-important job of educating kids may be rewarding. Still, those rewards are not really of the material kind — even once you've reached the Federal Reserve's definition of mid-career in your 30s.
1. Liberal and performing arts, and theology and religion
These three fields all share the distinction of tying for dead last on the Federal Reserve's list regarding early-career median salaries — a staggeringly low $38,000 a year.
The liberal arts encompasses everything from the study of literature to philosophy, and many who specialize in these fields become educators or academics — fields notorious for low pay.
While the performing arts always have the potential for riches, maybe you are the next Julia Roberts, the vast majority toil in obscurity. The same goes for those studying religion.
2. Leisure and hospitality
Those who work in everything from restaurants and hotels to tourism and spas may be doing the hard work of making our lives more enjoyable, but they sure aren't compensated accordingly. The median early-career salary in these fields is just $39,700.
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3. Anthropology
The details of human societies and how cultures came to be may be fascinating, not to mention vitally important to our understanding of ourselves and each other. But sadly, like pretty much anything else that can't be easily monetized, it's not a lucrative field. Early-career anthropologists pull down a median salary of $40,000.
4. Education
Hey, at least the people teaching your kids how to, you know, become functioning human beings are being paid more than those performing arts dreamers, but not by much. Early childhood and elementary education fields also typically start with a median salary of $40,000 — which should frankly be a crime.
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5. Family and consumer sciences
This field focuses on how people can live better lives — as the American Association of Family and Consumer Sciences puts it, the field is the "art and science of living and working well in our complex world."
What on earth does that mean? Everything from food science and culinary arts to interior design and wellness. And, like so many of its non-profit-driven fields, these careers don't pull down the big bucks either, starting around $40,000.
But it's important to note that many careers within this field and many other of the lowest-paying ones present big opportunities for entrepreneurship. So, if you're the type who likes to captain their ship, don't let these low salaries steer you away from your dream.
John Sundholm is a news and entertainment writer who covers pop culture, social justice and human interest topics.