The highest-paying bachelor’s degrees are usually within engineering and scientific concentrations
Bachelor’s degree enrolments are up, with projections at a 9% increase in the U.S. (from 15.4 million to 16.8 million students) in the period between 2021 and 2031.
And simultaneously, enrolments for bachelor’s degrees in STEM fields (science, technology, engineering, and math) have also spiked within the past decade, according to the National Science Foundation’s State of U.S. Science and Engineering 2024 report.
In fact, the report goes on to state that the number of technical professionals with a bachelor’s degree or higher equates to a growth of about 5.7 million between 2011 and 2021, while STEM workers comprised 24% of the U.S. workforce, up from 22%. It’s also evident that STEM degrees pay significantly higher, tend to provide greater opportunities, and often lead to more lucrative career outcomes than degrees that are concentrated in other majors.
What you may not be aware of is that STEM workers tend to not only earn more, but also experience greater career stability and longevity.
Take the pandemic as an example. During and in the aftermath of the COVID pandemic, professionals who worked in technical, scientific, and engineering fields received less negative impact to their jobs those who did not work in STEM industries, and by 2021, 86% were employed, contrasted to 79% of non-STEM workers. They continued to earn a higher median salary than their counterparts, even in 2021.
While there are of course, countless examples of how undertaking a four-year degree is not absolutely necessary to succeed in your career, especially given employers’ more recent stance on hiring for skills and experience more than education, what this data does show is that if you are going to study a degree, it would be wise to consider one of the STEM-related disciplines.
Undertaking a bachelor’s degree in one of the STEM fields lays a solid foundation for long-term career success. And this is even more evident, given the rising importance and integration of AI (artificial intelligence) today. With AI and machine learning specialists being the fastest growing jobs of 2024 and the future based on a recent World Economic Forum report, it’s no surprise that STEM bachelor’s degree enrolments will be taking pre-eminence over the next few years.
If you’re trying to decide what bachelor’s degree to pursue in the new year, here are some to guide you:
1. Bachelor’s Degree In Computer Science
Professionals with a computer science major are highly sought after across multiple industries, making this a truly transferable degree and career offering unlimited opportunities. Some popular industries that require computer science graduates are tech, healthcare, government, and finance.
Average salary: $131,742
2. Bachelor’s Degree In Mechanical Engineering
Mechanical engineering graduates have a very strong job outlook, with the U.S. Bureau of Labor Statistics (BLS) forecasting an 11% increase in jobs between now and 2033, which is much faster than the average job growth rate. With this degree (and the help of extra certifications and training along the way), you can expect to work in industries such as manufacturing, information technology, robotics, and even aerospace.
Average salary: $126,350
3. Bachelor’s Degree in Electrical Engineering
Electrical engineering is another high-growth, in-demand industry, with an anticipated 9% surge in jobs. When studying engineering, and specifically with this discipline, it’s important to obtain practical work experience as much as possible at the same time, such as through internships to gain hands-on work experience, as this will go a long way towards making it easier for you to land a job.
Average salary: $129,500
4. Bachelor’s Degree in Biomedical Engineering
Biomedical engineering graduates can go on to work on life-transforming and innovative projects and products, such as developing life-saving medical devices and the technology behind them, surgical robotics, prosthetic limbs, and performing clinical research trials. Quite a rewarding career, wouldn’t you agree? The demand for biomedical engineering professionals is projected to grow by 7%, according to BLS data.
Average salary: $99,550 (can go up to $129,000)
5. Bachelor’s Degree in Data Science and Analytics
Lats but not least, data science is a rapidly growing field for professionals to pursue, given the pace at which AI is being integrated across industries. AI requires data, and this calls for data teams of scientists and analysts to clean and prepare data to be used by AI tools and systems. Data science professionals work closely with machine learning engineers and other members of a technical project implementation team, and they may also collaborate with decision-makers and business heads to enable data-driven decision-making.
This profession is seeing the fastest growth of all the degree-related occupations listed in this article—a staggering 36% growth rate from now until 2033, which equates to about 73,000 more job openings.
Average salary: $122,029
Sustainable energy and engineering degrees are nothing without hands-on experience
If any of these fields inspire or intrigue you, make a plan to enrol on one of these bachelor’s degree courses so that you can experience a high-impact career with strong earning potential and long-term stability.