The 6 Worst Majors to Make Entry Money: Report
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The 6 Worst Majors to Make Entry Money: Report

The 6 Worst Majors to Make Entry Money: Report

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This article originally appeared on Business Insider.

According to an analysis by the New York Federal Reserve, graduates with six college degrees earned an average salary of $40,000 or less five years after graduation.

Graduate students stand in a row outdoors

Top salaries typically belong to engineering and science graduates. Barry Austin Photography

The analysis, released in February, took into account the earnings of recent college graduates and examined the labor market by their college subject. Data from the New York Federal Reserve analyzed the average salaries of graduates aged 22 to 27 in 2021.

The New York Federal Reserve found that the six lowest-paying majors fell under social sciences and humanities. In comparison, the highest-paying majors were all in the STEM industries, which include careers in science, technology, engineering, and math. Notably, chemical engineers ranked highest when it came to high wages, with an average salary of $75,000 five years after graduation.

Check out how much the lowest-paid majors make, according to New York Fed data. Underemployment – defined in the report as working in jobs that don’t typically require a college degree – and unemployment rates for each major are also shared.

Entrants are ranked from highest median salary to lowest.

6. Performing Arts

Ballet Dancers

Performing arts can include dance, music and theatre. REUTERS/Darrin Zammit Lupi

Median salary, entry level: $39,000

unemployment rate: 7.6%

Underemployment rate: 64%

People with a performing arts major made a median wage of $62,000 as mid-career workers as of 2021, according to the New York Federal Reserve.

According to Indeed, a US-based job listing site, careers that performing arts graduates pursue include choreography, which brings in a national median salary of $28,289 per year. At the high end of the market, creative directors earn a national median salary of $75,687 per year.

5. Leisure and Hospitality

hotel staff

The leisure and hospitality industry includes hotels, food and beverage, and tourism. Robert Kneschke/Shutterstock

Median salary, entry level: $38,000

unemployment rate: 5.3%

Underemployment rate: 58.6%

Recreation and hospitality graduates can expect to earn $60,000 in their mid-career, according to the New York Federal Reserve.

Some of the jobs that graduates take are Assistant General Manager, which pays an average of $43,943 per year, and at the higher end, Regional Manager, which pays an average of $52,669 per year, per Indeed.

4. Psychology

Psychologist talks to patient

Psychology can be a broad field, encompassing professions from psychiatry to business. Getty

Median salary, entry level: $37,400

unemployment rate: 4.7%

Underemployment rate: 47.6%

Psychology graduates can expect to earn $65,000 mid-career, according to the New York Federal Reserve.

Careers that psychology graduates pursue include therapy, which pays a national average of $67,600 per year, and psychiatry, which pays a national average of $219,482 per year, according to Indeed.

According to Niche, psychology was the third most popular major among high school seniors in 2022.

3. Social Services

Group of juvenile prisoners

Social services often involve counseling for children and families. Richard Ross/Juvenile In Justice

Median salary, entry level: $37,000

unemployment rate: 3%

Underemployment rate: 27.7%

Social service graduates earn $52,000 midcareer, according to the New York Federal Reserve.

Graduates with social services degrees typically begin careers in fields like public relations, which pays a national average of $42,103 per year, according to Indeed. At the high end, therapists earn an average annual salary of $75,019.

2. Family and Consumer Sciences

5 students in aprons listen to a cooking teacher

Careers in family and consumer science range from nutrition to family services. Claire Price/Insider

Median salary, entry level: $37,000

unemployment rate: 8.9%

Underemployment rate: 47.9%

Family and consumer science graduates earn $60,000 mid-career, according to the New York Federal Reserve.

Some of the jobs family and consumer science graduates take are community service workers, which pay an average of $28,259 per year, and nutritionists, which pay a national average of $41,309 per year, according to Indeed.

1. Theology and Religion

The exterior of the church.

Some of the jobs that theology and religion graduates take are pastor and missionary. Square One Media.

Median salary, entry level: $36,000

unemployment rate: 3.6%

Underemployment rate: 35.5%

Mid-career theology and religion graduates earn an average of $52,000 a year, according to the New York Federal Reserve.

Some of theology graduates become pastors, a role that earns an average salary of $42,936 per year, and missionaries, who earn an average salary of $82,268 per year, according to Indeed.