There’s a lot more to choosing a college major than which fields offer the biggest pay-day.
In a post-pandemic world, much has changed. High school seniors and college students are thinking about the annual turnover rate or predicted job availability in the future in their chosen fields, not just the present.
Scholaroo’s 2022 edition of Best College Majors in America compared 103 different college degrees and how they ranked in terms of 3 categories: Job Availability and Salary, Job Stability, and Career Cost. The data set took into consideration 12 key indicators ranging from Starting Median Salary to Unemployment Rate.
If you’re heading to college this fall or are simply thinking about changing your major, read on to find out all we’ve discovered, the methodology we used for our conclusions, and additional insights that could help you make one of the most monumental decisions of your career before it even begins.
Category Breakdown
Methodology
In order to determine the best and worst states college majors, Scholaroo compared 103 college majors across three key dimensions:
- Job Availability & Salary
- Job Stability
- Career Cost
We evaluated those dimensions using 12 relevant metrics, which are listed below with their corresponding weight. Each metric was graded on a 100-point scale, with a score of 100 being the max.
Finally, we determined each degree’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample.
Job Availability & Salary (50 points)
Starting Median Salary: Regular Weight (9.09 points)
Note: This metric measures the starting median salary of workers from 0 to 5 years of experience.
Median Income: Double Weight (18.18 points)
Note: This metric measures the median income of workers with more than 10 years of experience.
Projected Job Availability in 2028: Double Weight (18.18 points)
Note: This metric measures the percent of projected change in job availability for 2028.
Annual Job Openings: Half Weight (4.55 points)
Note: This metric measures the number of annual job openings.
Job Stability (35 points)
Unemployment Rate: Double Weight (12.73 points)
Note: This metric measures the degree’s unemployment rate.
Job Openings per Graduate: Regular Weight (6.36 points)
Note: This metric measures the annual job openings per graduate.
Yearly Turnover: Double Weight (12.73 points)
Note: This metric measures the percentage of workers who leave the profession every year.
Change in Degrees Awarded: Half Weight (3.18 points)
Note: This metric measures the percentage change in degrees awarded from 2019 to 2020.
Career Cost (15 points)
Median In-State Public Tuition: Regular Weight (5.00 points)
Note: This metric measures the median in-state public tuition of four-year institutions.
Median Out-of-State Private Tuition: Half Weight (2.50 points)
Note: This metric measures the median out-of-state private tuition of four-year institutions.
Change in Median In-State Public Tuition: Regular Weight (5.00 points)
Note: This metric measures the percentage change in public tuition.
Change in Median Out-of-State Private Tuition: 2.50 Weight (2.50 points)
Note: This metric measures the percentage change in private tuition.