Best College Degrees for Money Later

College degrees can cost a lot of money. Between the cost of classes, interest on student loans, and time lost working, earning a college degree can be a big financial hit. But if you pick the right degree, you can earn all that money and more back later with a high-paying career that your degree opened the door for. These nine degrees are all great choices to earn money later in your career.

Computer Science

Computer science is a fast growing field showing no signs of slowing down. The average base salary for a computer science major in 2024 is around $110,000, but depending on which company you work for there is a lot of potential for even higher incomes. By studying computer science, you can apply for jobs such as a computer programmer, IT professional, systems analyst, network architect, and many other computer-based career paths. If you’re passionate about computers and the internet, computer science can be a great choice for a high-paying job.

Engineering

Engineering degrees come in many different specializations, including electrical engineering, chemical engineering, nuclear engineering, and many more. Depending on the specialty, engineers can earn around $100,000. Engineering degrees are highly technical and challenging to earn, which keeps the demand for engineering graduates high. Despite the high demand, engineering jobs have a reputation for having a good work-life balance and benefits, making it a good choice if you plan to start a family. Engineers dive deep into their specialties to improve systems, solve problems, and improve processes, and is a good career if you enjoy problem solving.

Petroleum Engineering

One particular form of engineering can be especially high-earning, petroleum engineering. Modern society depends on the steady availability of crude oil, natural gas, and other forms of energy to function. A petroleum engineer can earn $170,000 or more in a boom year, with the average annual salary around $130,000. Petroleum engineers specialize in efficiently extracting crude oil and natural gas from natural reservoirs, while also minimizing the impact on the natural environment. While electric vehicles are growing in popularity, society will still need a lot of oil and gas for many years to come, making it a good choice for a high paying career.

Finance

If you’re interested in money (and not just as a paycheck), finance degrees are another option to open the door to many different high paying careers. If you earn a finance degree, you can apply for jobs such as financial analyst, auditing, commercial banking, stockbroking, and many other money-related careers. On average, graduates with a finance degree earn around $124,000, although the pay can vary depending on which job you choose. If you’re interested in practical economics, finance can qualify you for a wide range of high-paying jobs.

Nursing

If you enjoy medicine and working with people, a degree in nursing can be a great choice. Nursing doesn’t require as many years of schooling as becoming a doctor does, allowing you to jump into work right after earning your degree. The average salary of graduates with nursing degrees averages around $89,000, but can rise significantly higher based on location and specialty. Nursing positions have a high demand all over the country, making it a flexible job where it’s easy to find work just about anywhere. If you enjoy traveling and seeing new places, there are also travel nursing positions where you can fill in for nursing shortages in all kinds of different states and cities.

Cybersecurity

With recent advances in malware and artificial intelligence, cybersecurity has become a fast-growing occupation. Cybersecurity specialists earn an average of $122,000, and the U.S. Bureau of Labor Statistics estimates a 32% rise in cybersecurity positions between the years 2022-2032. With a degree in cybersecurity, you can get a position protecting companies, consumers, and even critical infrastructure from attacks from hackers and other malicious actors. Digital forensics, security analysis, and penetration testing are all jobs that a cybersecurity degree can qualify you for. Certain jobs, such as penetration testing using social engineering (testing the security awareness of the human element of a system) doesn’t even require highly technical skills and is a great option if you’re friendly and a people-person. If both computers and crimes interest you, cybersecurity is a great high paying career.

Applied Mathematics

If you’re good with numbers, a degree in applied mathematics can help you get your foot in the door for a variety of well-paying jobs. Applied mathematics specializes in applying mathematical concepts into practical situations such as business, engineering, medicine, and more. Supply chain analyst, risk analyst, and data scientist are all jobs you can do if you study applied mathematics. On average, the annual salary earned by a graduate with an applied mathematics degree is around $85,000 depending on which job you choose.

Pharmaceutical Sciences

If you’re interested in both science and medicine, pharmaceutical sciences is a degree option with high earning potential. While the average salary holders of this degree earn are around $96,000, top earners can earn much more. Pharmaceutical science involves designing, testing, and distributing new drugs and medicines. Earning this degree opens up the opportunity to work as a pharmaceutical researcher, a regulatory specialist, or a pharmacologist. If you enjoy science, research, and medicine, pharmaceutical science can be a great career path.

Marine Transportation

Marine transportation is critical to the economy, and working in this field can gain you a high salary with a lot of job security. Marine transportation degrees teach students about shipping cargo by sea, either in a hands-on position or in an administrative role. High level roles that you can work up to with a marine transportation degree include port captain, vessel captain, and marine operations manager, all of which average around $67,000 for an annual salary. Not many colleges offer this degree, so if you choose this career path you may be limited in which colleges you can attend. If you love ships and the sea, marine transportation can be a great career choice.