Thursday, May 30, 2013
10 Worst-Paying College Majors
You probably already know that college grads have an easier time finding jobs, and earn more those who only have a high school diploma. But that's not the whole story. Some college majors offer a much worse return on investment, with starting salaries that are no better than high school grads' pay, according to a new study released Wednesday. The study, conducted by the Georgetown University Center on Education and the Workforce, looked at 2010 and 2011 salaries and unemployment rates among college grads between the ages of 22 and 26. The startling conclusion: Some majors have starting salaries no better than the average salary of a high school graduate, which is about $29,900 a year, according to the U.S. Department of Education.
Low Pay And High Unemployment: The worst-paying majors tended to be in the arts, where the low pay in creative work is matched by high unemployment rates, with an average of roughly 9 percent unemployment for arts majors. In fact, the overall unemployment for all recent grads is 8.9 percent. Several arts disciplines, however, lead to double-digit unemployment, according to the study.
But that doesn't mean those who major in those fields are worse off in every way. In fact, as Forbes has reported, studies of college graduates show that liberal arts majors are "are as satisfied or more satisfied with their lives as their classmates in other disciplines." And several majors in technical fields have high unemployment rates, too, despite relatively high salaries.
Below are the 10 worst-paying majors, with average starting salaries and unemployment rates. (See also the 10 highest paying college majors.)
10. Music
Starting Salary: $30,000.
Unemployment Rate: 9.2 percent.
Find a job now in music.
9. Film Video and Photographic Arts
Starting Salary: $30,000.
Unemployment Rate: 12.9 percent.
Find a job now in film, video or photography
8. Liberal Arts
Starting Salary: $30,000.
Unemployment Rate: 9.2 percent.
Find a job now in liberal arts.
7. Psychology
Starting Salary: $30,000.
Unemployment Rate: 7.6 percent.
Find a job now in psychology.
6. Philosophy/Religious Studies
Starting Salary: $30,000.
Unemployment Rate: 10.8 percent.
Find a job now in philosophy or religion.
5. Social Work
Starting Salary: $30,000.
Unemployment Rate: 6.6 percent.
Find a job now in social work.
4. Fine Arts
Starting Salary: $30,000.
Unemployment Rate: 12.6 percent.
Find a job now in fine arts.
3. Physical Fitness / Parks Recreation
Starting Salary: $30,000.
Unemployment Rate: 8.3 percent.
Find a job now in physical fitness or parks recreation.
2. Anthropology / Archaeology
Starting Salary: $28,000.
Unemployment Rate: 10.5 percent.
Find a job now in anthropology or archaeology.
1. Drama / Theater
Starting Salary: $26,000.
Unemployment Rate: 7.8 percent.
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