What's more expensive than going to college? Until recently, the answer was easy: not going to college. Numerous studies over the years have shown that individuals with college degrees significantly out-earn those with high school degrees by $1 million or more over the course of a lifetime.
But as the cost of education increases faster than inflation and the economy remains relatively weak, people are beginning to question how they spend their education dollars. As student loans hit the $1 trillion mark and more and more graduates are faced with years of paying staggering monthly payments, many are starting to ask themselves, "Is it worth it?"
While there's no doubt that a college degree increases earning power and broadens opportunities, today's high cost of education means it makes sense to more carefully consider which degree you earn. When it comes to return on investment (ROI), not all degrees are considered equal. This article exposes eight college degrees with poor ROI:
The author goes on to explain her methods and then lists the following degrees, with representative lifetime earnings and median salaries in typical careers.
Sociology
Education
Fine Arts
Religious Studies / Theology
Psychology
Nutrition
Hospitality / Tourism
Communications
More.
I majored in a subject I love. Maybe I should have thought more about a career and what I could have done with my degree, but I do not regret it. There are things far more important than money.
ReplyDeleteI majored in the only subject that I could stand/enjoy enough to take enough classes in to get the degree (History). That, and the Liberal Arts/Humanities, in the historic/best sense, education that taught me how to think/write/etc..., formed the basis of my being able to be flexible enough to make a career for myself.
ReplyDeleteBut, then, I didn't view undergrad as vocational school, with a strict ROI on it (that was more what my MS was about, so that I could have some letters after my name & thus have come currency & staying power in the academy...) ;)