As costs of tuition continue to climb and national economic forecast predictions remain dismal, students are beginning to peek from behind their library cubicles, laptops, and textbooks and ask: Is dedicating four years and thousands of hours to studying (with an average debt of $70,000 lurking at the finish line) really worth it?

Fortunately, Georgetown University’s Center on Education and the Workforce sought the answer to this question and concluded that yes- a bachelor’s degree will indeed ‘pay off’ in the end. The center’s study, released in early 2011 and seductively titled, “What’s it worth? The Economic Value of College Majors”, reports on financial payoffs for college graduates according to major. Overall, the study found that full-time workers with a bachelor’s degree make an average of 84% more over their lifetime than someone with only a high school diploma. The study also highlights the importance of major selection if economic return is of high priority to a future graduate, citing that earning potential between two majors can differ by over 300%. For the math & science inclined- this is great news. For those passionate about psychology and education- brace yourself, if you haven’t already.

According to the findings of the study, highest earnings by majors are as follows (according to mean salary):

-Petroleum Engineeringwhatever that is)- $120,000
-Pharmaceutical Sciences- $105,000
-Math & Computer Sciences- $98,000

On the other end of the scale lie human services, including:

-Theology/religious vocations- $38,000
-Early Childhood Education- $36,000
-Counseling Psychology- $29,000

Those of us studying liberal arts and humanities are located somewhere in the middle of the pack in terms of earnings and employment- average salary stands at $47,000.

Another study suggests that investing in a degree also makes sense in terms of quality of life. Satisfaction rates are highest among full –time workers with bachelor’s degrees. Among the most satisfied with their careers are anesthesiologists (88%), creative directors (79%), and training and developing managers (84%). Those careers found in the middle are clergy/priests (67%), firefighters (57%), teachers (48%), and lawyers (40%). Those on the bottom of the scale consist of waiters (31%), bartenders (20%), amusement park attendants (16%), and gas station workers (13%).

So if you’re experiencing financial anxiety and/or a mid-summer panic about the impending school year, relax and rest-assure that it will all pay off in the end (although the degree to which it will pay off may seriously depend on your choice of major).


For the full, lengthy, complete 22 page survey visit here.