If you're looking for a college degree with maximum earning potential, you'll want to be an engineer.
Engineering degrees took nine of the top 16 rankings for college majors with the highest income five years after graduation, according to a recent New York Federal Reserve study of full-time workers.
Computer engineering majors ranked first with an annual median salary of $80,000, followed by chemical engineering and computer science — the only two other majors that pay more than $75,000 annually.
The trend is expected to continue going forward too. STEM jobs — science, technology, engineering and mathematics — are expected to grow twice as fast as non-STEM jobs through 2031.
Here are the 16 highest-paying college majors:
The technical knowledge, mathematical proficiency and problem-solving abilities required in engineering are valuable across many industries. As such, the profession tends to have higher salaries compared to other occupations.
Engineers also get top dollar when they gain more experience. When looking at "mid-career" graduates — those ages 35 to 45 who are working full-time — engineering majors tend to make six figures.
Here's a look at the rankings for mid-career graduates:
Once again, chemical engineering is ranked first, with $133,000 in annual median income. Chemical engineers get paid well since they often work in lucrative sectors like oil and gas, pharmaceuticals and semiconductor manufacturing.
In contrast, the lowest paying majors tend to be in liberal arts or education. Early childhood education had the lowest pay for mid-career earners, with $48,000 in annual median income. That's only $8,000 more than the $40,000 early childhood educators make at the beginning of their careers.
Data for this annual study was compiled from U.S. Census data from 2022, the most recent available. The study excludes majors currently enrolled in school and is limited to a working age population aged 25 to 65, with a bachelor's degree or higher.
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