Supply & Demand applies to college too (get the pun - ha ha ha) anyway, here is the segment I mentioned on which degrees lead to the higher paying job (on average).
This article was some stuff that i definitely already knew about my choice of major. As someone that knows that they want to be a computer science major every time i see one of these things i see the amount of money that i could make. With this being such a great career knowing how much fun it will be and the money that i will earn doing it, makes it even more exciting to think about and look forward to.
I honestly was not really shocked that the most paid majors is in the engineering section, i mean we all hear it but, who in gods name with a sane mind would choose such a boring job and i agree with that guy that even if many people knew this they wouldn't choose this major because everyone has different interest and maybe i got this whole economic thing wrong but since there are such little people choosing this major more companies are willing to pay more money to get these positions filled but, who knows im no pro at this. but, i think this go back to the happiness situation as long as your happy and love what you are doing does it matter how much you get paid, i feel that i would rather want to fulfill my own dreams than make 120,000 dollars a year but then again im only 1 out of 7 billion people in this world... AM period 6
It's interesting to consider that what one majors in is more important than the school one attends. This recording shows the importance of choosing the right major from the start of college. Doing so will avoid time and money wasted studying to receive a degree that won't make enough money to support a person or even a family. It was also interesting to consider why psychologists do not get paid as much as petroleum engineers do. Because there is such a high supply of psychologists, the paycheck a psychologist receives will be low. AB
This makes a lot of scene that your major is the most important thing; not what college you go to. In many fields students come out of college in debt because they thought they had to go to Harvard for teaching but really all teachers make the same amount no matter where they go to. But the girl Erin, who majored in petroleum engineering and at 24, she makes $110,000 a year saw it as an economical advantage to major in engineering and not psychology like Michael Gardner making $36,000 a year as a case worker. Those who major in jobs that are not as in demand are more likely to get a better pay check because there is so few of them willing to do that job. But for people like Michael who does his job because he loves it and he finds it fulfilling, there’s nothing wrong with that. Some people don’t care in the end about money and sometimes those are the people who get the most out of there majors just for the experience and love of doing it. But like the article said not everyone is meant for every job out there. Those who find they cannot perform a job like Erin’s are going to have to take the lower paying jobs that suite them best. Maybe it’s more economically smart to have another degree in a field that pays higher than your first major so that you can have the financial stability but also do the job you love. I want to go to college and major in photography and I know it’s one of those majors that’s not going to pay as much so I always have a backup plan so that I don’t need to worry about money. Sometimes you have to put what you love aside in order to gain the financial stability to pursue what you really wanted later on in life. We would all love to come out of college making six digit salaries but that is very unrealistic when your major doesn’t exactly follow the normal route. So I guess by going against the crowd you have to be on your game and do whatever it is possible to keep you financially afloat.
Supply and demand can also explain this trend. There are far more people that earn a B.A in psychology, biology, religion, counseling, and education than people earning a bachelor's in engineering. Taking a look at the graphs, all but one of the top 10 majors are engineering. But I think that the statistics can be quite misleading as these engineering majors have a lot of cons themselves. Petroleum engineering, for instance, makes 120K. But one would need to graduate from an accredited PetE program, which are extremely rare. Nearly every undergrad has psychology or basic science majors but not PetE, lowering the supply of PetE majors. Also, PetE requires a lot of commitment. Their work hours are incredibly high, comparable to doctoral residents and you probably won't be working in any of the major cities, but where the oil is (which turns off a lot of people). Couple that with increasing demand for energy and there you have it - the reason why PetE majors make so much money. I personally think it's fluff.
As a high school senior, I am inevitably thinking about this every day. Do I want to pick a major where I’m guaranteed a high-paying job after I graduate or do I want to pick a major I feel passionate about? Clearly, for Michael Gardner, the choice was easy and he went with his passion for psychology. However, that is not the case for every student. I think all of us with an exception of a few people who know exactly what they want to do in the future are scared to make that final decision. I do agree with Carnevale that what you major in has a bigger influence over your income than where you go to school. Erin Ford was certainly very lucky because she picked a right major for the right time where there is a low supply of engineers and a high demand for them. Although I’ve finally decided I want to major in finance, I change my mind every day because the influences of my parents and any resources I find online make me rethink about my choice. Am I making the right decision? It’s twice as hard for me because I don’t have anything that I feel really passionate about unlike some of my friends who are obsessed with art even though they are fully aware that it’s harder to become successful in the art field because there are tons of talented artists who are seeking to be noticed in the time where the demand for them is low. I admire them for following their passion despite the fact that there is a bigger possibly that they are not going to make $110,000 a year like Erin Ford. Passion and money both play a huge factor in students’ decisions on their majors, and in my opinion, it’s rare to fulfill both factors. I think some students who just read this article might even have changed their thoughts on what they want to major in and are now seeking to major in engineering since it is the highest-earning major.
Time to major in petroleum engineering. And yet I'm not going to, because it doesn't sound as cool or intriguing as I want to major in. At the same time, however, my major doesn't pay poorly by any stretch of the imagination and there's no doubt that the median income is a major motivating factor in my decision. There's simply no way past the importance of income, yet fields that pay poorly need to be filled (and appear to be shockingly popular anyway). I could vaguely understand chasing a degree out of personal interest, but with the high and ever-rising cost of a college education, investing in a low paying degree simply seems pointless if you're not already bathing in money. JW Per. 9
I think that it is okay that there is a salary difference in these jobs because some are in higher demand than others, and their work makes more money for the company so it is okay to pay them more. Also, they could be more challenging than other jobs, leading to less students wanting to major in that line, raising the salary for those who choose to take that challenge. I think this salary difference may cause more students to want to do the higher ranged jobs, although there will still be some that love the lower paying job so much they cant leave it, and this will cause the supply for some of those higher paying jobs to increase and the lower paying jobs to decrease, thus lessening the gap between the salaries. - Karan L. Period 8
I am not sure if choosing a major based on what degree will earn the most money is the right thing to do. It's probably the smart thing to do. It's funny that the reason psychology majors get paid so little is the high amount of people that have pysch degrees. It will be interesting to see when engineering degrees will start to earn less. Though this might not happen considering the fact it's hard to actually get an engeneirng degree. AA Per 9
Its interesting to see that the more technical, and specific degrees lead to the highest average earnings. This indicates that the less replaceable a person is, the higher he/she gets paid. Also this graph shows that people with degrees in the arts and theater category, aren't very employable and indicates, that for the most part, those degrees are useless for all purposes, with the exception of personal edification. But this graph fails to account for the relative difficulty of attaining certain majors; I assume that a major in petroleum engineering requires more time and effort than perhaps a social work major. But aside from that, this graph does show a lot about the employability, or lack thereof, of certain majors. It would be interesting to see employment rate added to this information, as it would reveal even more about these majors. E.S. per 8
Everyone develops their own interests and passions throughout the course of their life. Although it seems fair that jobs in higher demand will yield more pay, it's still kind of upsetting to see the massive variety in median earnings that is created from this difference in demand ($30k to #120k). People who happen to devote themselves to the "wrong" jobs will later find themselves earning a lot less than someone who studies engineering or medicine. To the unknowing college graduate, it might seem almost like a matter of luck.
The charts in the article were rather scary because many of the majors I thought made more money than what was shown on the chart. It is crazy to think that the major has a bigger influence on how much money one will make over the actual college. It makes me think if the major I decide will be good. -VG Prd. 6
I feel like as time goes on, there are less and less majors that are actually lucrative these days, and those that are extremely competitive and usually involved the most educated. That's why engineering, STEM in general, and finance are the most high paying jobs. Also, I find that math is becoming more and more important in today's world, for everything is becoming technology and STEM driven. Therefore, when I find that my whole entire grade seems to be going into the same fields over and over again, I don't really blame them. As much as someone may love English or psychology- What are you going to do with that major? go into academia? People need to make money to, and in today's market, the ability to be creative and adapt to the rapid changes of the world is the greatest quality that anyone can have, engineering especially harbors those qualities. - Maisha Savani PD.8
I felt mixed emotions while viewing the graph presented in the article The Most (And Least) Lucrative College Majors. I had prior knowledge that engineering majors receive the highest earnings and are greatly in demand in the labor market. This upsets me because I hate math and science, so I cannot pursue these majors. Another thing that upset me was that psychology and human services majors were on the lowest earning list. These are the two majors I am most interested in. Although I want to pursue something I love, I will not be happy if I don’t have a high income to live a good life. I want to be able to support myself and afford luxuries. It said that the graph displays data of individuals who have bachelors’ degrees, so I am guessing having a master’s degree gets you higher pay.
After reading the article and reviewing the graphs, it really opened my eyes to the “real world.” Before reading the article I had some idea as to how your major affects your future income. But now I have a better understanding the two and how they go hand in hand. I think that most people go with their heart and what makes them happy. But at the end of the day it’s truly a decision between happiness or income. If you are happy with the career that you chose to pursue then that’s all that really matters. I hope that in future I am able to have the best of both worlds, happiness and a reasonable income. Melinda R Economics Period 6
Robert Lis -Pd 9 I always knew that the college you go to itself would not provide you with a high paying job, but I never knew that each major could have such a drastic impact on the amount of money you will make. I found it shocking that an engineering job could having a starting wage of over $100k, considering many Americans do not make no where near that amount per year. I also agree that not all people can make it in certain majors and jobs because you must be able to have certain skills and abilities that will help you to be successful in that field. Different people are better at certain things than others, and will succeed in the field they are strongest in. It is good that some people want to help other people (social workers), but the pay for these jobs is incredibly low and it would be extremely difficult to live comfortably under these conditions. Personally, I would also want to help other people, but I cannot live off of only $40k a year. It is vital to choose a major in college that you know will get you the exact type of job you are looking for, whether it be one in which you make a lot of money or one in which you help people more rather than making a lot of money for yourself. It seems to be the case that as you increase your education, you will also get better paying jobs in many cases.
Coming from a student who is going to start college in just a few months, I felt that this piece was very interesting. In a sense, I feel as if the fact that this article even exists indicates the state of our value system. As a society, we put more value into making money than fulfilling our inner passions. I think there is much need for this type of mentality-- as someone who will eventually be entering the job market, I want to have the security of knowing that the money I spend to get a college education will be reimbursed through a high-paying job. It would be a lie to say that I do not prioritize income over certain other qualities-- however, there is a limit to how far I would go to make money. I think conflict occurs when people disagree over where exactly this limit should exist. In my opinion, everyone's individual limit is a reflection of their personal life and the impact it has had on the the way they perceive their community. For example, my family has grounded within me the value of a dollar to such an extent that I now have a tendency to think about my actions from an economical rather than social point of view. Thereby, I know that I would never go into a profession in which I see no economical future. However, I also know that I won't spend everyday doing something I don't enjoy, even if I would make a huge profit from doing so. I hope to find a balance that I am comfortable with once I enter the job-market.
I don't think that this information is anything new. For example, since there is an abundance of psychologists, it's natural that they would get paid significantly less than those who did something like petroleum engineering since there are barely any of them. Not only that, but occupations like petroleum engineering are needed and there aren't enough people trying to fill that job. I don't think people should go for a degree for the money, but I do think it should play a role. For example, if someone wants to go into psychology, they should probably go into industrial psychology since they make much more than the average person with a psychology degree.
Like Gardner, I thought it was amazing how much major in petroleum engineering make compared to other degree holders. Moreover, I was appalled by how low earnings were for social workers, community service workers, and counselors–in many cases, it seems that the lowest paying jobs are often the ones that are viewed as the most fulfilling, as if the lawyers and finance majors who often hire the lowest-paid degree holders are punishing them for doing something useful (to borrow an idea from the Graeber essay). As I worry about college admissions, (at least in part because a good college will get me a higher-paying job in the future) I can’t help but think I might be going about this wrong.
i cannot agree with this more. cuz how many people can get into mit. jobs are not only provided to only mit students. major is the most important thing. if the major is harder, less people will take it, the competition will be less. luckily, i pick chemical engineering as me future major. how hard the major is directly reflects how much they will earn in the future. per 9 yan
This voice clip I believed, hit some major points. For starters, the demand for jobs in various sectors of work are completely unbalanced. Where the greater demand for a job is present, the supply of workers for that job is not present and vice versa. Where there is a low demand for a specific job, the supply of workers are much higher. People do not realize that in order to earn more money, they have the skill set required of that of the higher demanding job. And I believe that is the problem. Too many people are settling for easier college majors instead of going head first into the more difficult ones that will gain them the most advantage in the end. In the world today, most people look for the simplest way out and gain less that those who challenge themselves. An example of this is the amount of Psychology Majors vs. the amount of Petroleum Majors. The number of Psychology Majors is too large for the demand thus earning less whereas the number of Petroleum Majors is too small for the demand thus earning so much more. -Maresa M. Pd 8.
I believe we live in a sad world where not everyone can make a great living doing what they love. Being at a school like Herricks and coming from a mixed but largely Chinese background, all around me, I see people who go into, whether they want to or not, the math and science fields. I've similarly been pushed into studying similar fields--engineering, pharmacy, doctor, whatever. But I've never given in to the pressure. It honestly does scare me, knowing that what I love learning and what I want to pursue as a career likely won't earn me as much money as if I become a doctor or an engineer. It makes me sad. Sometimes it makes me mad. I think our society promotes math and science as being more important than English, History, the arts, etc. To some extent, I understand it. I understand the supply and demand side of it. Fewer people are going to go through the studies required to be an engineer or to be a doctor, and more people are going to major in the arts or social sciences. But I think both are equally important, and that's not necessarily shown in our society. I've grown up feeling that I won't be as successful and that I won't be as important because I definitely don't plan on going into the math or science field. I don't intend on switching into those fields though. I will continue to pursue my interest in International Relations and International Development. I'm glad that more recently, there's been a push to encourage people to pursue their true passions. There's been a push to encourage women to enter the math and science fields because they've been pushed away from it for so long. And yes, it's true; for the most part, those studying English, history, etc won't be studying as much or at the same level, but I think it requires a potentially different skill set than the math and sciences. I think there will always be a smaller supply and greater demand for people in the math and science fields and a larger supply and lower demand for people in other fields. I don't think the imbalance will change any time soon; I don't have much hope for that change. But I hope that we as a society can someday come to respect all professions in the same way we respect doctors and engineers. I hope that one day people can realize that all people with all different interests and jobs are needed and important. It'll be hard to change supply and demand in the fields discussed in the article, but I'm glad that Gardner says he wouldn't change his path. We should all be able to pursue our passions and succeed, though success may be characterized in different ways. After all, what's monetary success if you hate going to work every day?
This article is really important for me to know because I'm a senior now applying to college. The major I decide to study will affect my chances of getting a job. So many people care about where they actually study instead of focusing on the whole point of going to college; to get a job. I should not be swayed into choosing a major because it's easy but chose a major that will help me get the right, stable job.
Wow! That's insane $110,000 at the age of 24... and that salary will probably go up even more as she works more. As appealing as the salary sounds, I also think that if there is no interest in a certain major, in this case engineering, then why would you want to spend your entire life working in that field? I understand making money is important to survive and to take care of yourself and your future family, but I agree with Gardner; we should do something we genuinely enjoy. I think this is great to be aware of what major is in demand because then we, the future workforce, will be able to supply that demand in the field. But as for me this fact is eye opening and of course it's appealing; however, I can't imagine myself studying petroleum engineering? Let alone work 30+ years in that field.
I found the article and graph very telling of the priorities and valued skillsets of our society. I found it sad in a way how our society places the value of a petroleum engineer three times that of a preschool teacher. I guess this borked value system can be somewhat justified, as there are no where near as many people qualified to become petroleum engineers as there are people qualified to become preschool students. I understand the high pay of these engineers, but the more troubling issue is the fact that the pay for preschool teachers is so low. The most successful people in the world would not be where they are today had it not been for their educations, including at the earliest level. I feel like the value our society places on people such as teachers and social workers should be much higher than it is currently, because without these people educating our youth, there would not be people qualified to become petroleum engineers. -KH8
Im surprised that the guy whos making 36,000 a year is happy. I think if I was him, even though id be doing what I love, I would have to reconsider my path because, theres only so much you can achieve in life without giving up stuff. I think hes stupid to not decide to switch his major if he was told the info earlier because he knows his life will be harder and he wont be able to utilize his full potential.
I've thought a lot about what I wanted to study in college. Money is a huge factor for me, because I want to be able to support myself comfortably, and there is a sense, from being a first generation American, that I have to do better than my parents, who came to this country with almost nothing. I had know about these statistics, and had actually stumbled across this radio clip in my research before, because I wanted to make the best decision I could. Engineering was out of the picture for me. I love math, and have a liking in science, but there are many other subjects that I would rather pursue. I came across industrial design almost by accident, and after I had started reading up on it, I feel in love because of the very prosperous job opportunities and that I could get this degree while studying at an art college. Industrial designer are everything that engineers can't be. The way I describe the major and career is fixing what engineers invented. It's about creating products that keep the user in mind so the products are functional. This can be anything from something simple, like a chair, to the design of car controls, to an iphone. I wouldn't have decided I wanted to go in this direction if it weren't for the money and the pleasure combined. If I wanted to make a ton of money, I'd study petroleum engineering, if I wanted to study what I'd love, I study painting, but, what I learned two things from my parents, if all i think about is money, I'll end up like my mother, working a job I hate for over thirty years, or like my father, studying what I love, trying to make it in that field, and end up becoming a teacher because I need some job. Either way I end up in a situation I didn't want to be in, so choosing a major that sort of balances the two is what i ended up doing. I don't get why more students don't think about their careers and majors like that. Psychology isn't a promising major, yet I know people that want to study it. It's not that people shouldn't study it, but you don't have to major in something you hate to make more money.
AP Economics Pd.8 Chirag Soni I recently was research what the highest paying majors were and came across petroleum engineering. My first reaction was to do some research and make sure I go to a college with that major; however, after thought I realized that that type of work wouldn’t really interest me. Still I feel that my major should be something that earns a decent amount of money once you graduate. It makes sense that the more advanced your degree is the higher your salary will be because employees will be looking for people with your qualifications. If you get an advanced enough degree, they will pay much more for you compared to some who has the basic qualifications needed for the job. A similar situation happened to me today at work. At Kumon, because I am in AP Calc, my skill sets is far larger than many of the other employee’s. I think that because I offer a larger skill set they gave me a raise while most of the other employees remained on their starting salary.
My opinion of jobs and income is very much like Gardner -- money shouldn't be the all end tale for success and happiness. If a person really likes what he is doing, then, despite all the statistics, I truly believe that person could still earn alot of money. Yes, being a doctor or a surgeon or a petroleum engineer makes alot of money... but people who don't want to be doctors and are only focused on the end result income are the people that usually drop out from the rigors of medical school. As of now, I would really want to be an engineer; the field that I end up majoring will not take income as the only factor. Jim Tse
First off, I don't completely agree with way the story seemed to disregard where a person goes to study. I think that if two people graduate with the same degree with one from an Ivy League and another from a state school and they apply for the same job, it's pretty obvious that the Ivy Leaguer will get hired. I do agree with the fact that the laws of supply and demand have a big effect on earning potential, therefore making the procedure of choosing a major all the more nerve-wracking. I think it is very important that we invest in education because a good education can never be taken away from a person and will only help further their career. I feel like after hearing this story, many people are going to decide to major in petroleum engineering to receive the highest income possible. I think it's ironic though that due to the laws of supply and demand, if more and more people decide to become petroleum engineers, the demand will decrease and we'll have another highest paying job that everyone will redirect themselves to. I think people should like their jobs, but shouldn't fall in love with them because the more passionate they are about it, especially if it has a history of having a low-earning potential, the more they will be willing to accept a lower salary in exchange for doing something they enjoy. It's just interesting how the cycle never seems to end in the chase for the highest paycheck.
This article was very interesting because it gave a very detailed example and covered a wide range of data through two charts illustrating the highest paying college majors and the lowest paying college majors on average. The example showed a woman who got her degree in petroleum engineering and was making approximately $110,000 per year as apposed to the man who struggled to get a job after he got his degree in psychology then however landed a job as a case worker making close to $36,000 per year. I would infer that it was hard for the psychology major to get a job because there is a lot of people who major in his field and the competition is fierce while the woman probably had no competition in such a specific and rare major which made her type of expertise very sought out. what intrigued me the most was that studies show that what you major in affects how much you make more than the university you attend. Through the use of the graphs the author showed trends that engineers are making more money on average than most majors which i was completely caught off guard by. Stephen F. Period 6
Its not about your level of education but what you can provide. You need to fill the supply because the demand is what gets you paid. The two college graduates' stories were not shocking as obviously engineers are the job that is more in demand which is why Ford got paid 6 figures right out of college and the psychology major struggled to find work. This really emphasizes the value of choosing a major and a college degree because in conjunction leads to a well paying job
The segment “Most (And Least) Lucrative College Majors, In 1 Graph” on which degrees lead to higher paying jobs, on average, was definitely informational and prevalent, especially because my peers and I are headed off to college next year. Prior to listening to this news piece, I was not aware that petroleum engineering is currently the college major with the highest earnings on average; quite frankly, I had never even come across petroleum engineering as a college major. Nonetheless, the college major is evidently in demand, explaining why Erin Ford did not have to go through the job search process; interestingly enough, the jobs came chasing after her. On the other hand, Michael Gardner, by choosing a more common and typical college major in psychology, had difficult acquiring a job of his liking because a degree in psychology is simply not as valuable, relatively speaking. Although I do not wish to pursue petroleum engineering as my college major, this newscast definitely made me conscious of the importance behind choosing a college major; in some cases, it may have a bigger influence over one’s income than where one goes to school. Without question, I will research meticulously the job prospects in the college majors of my interest and decide accordingly.
I think it's incredibly important to consider the supply and demand of your future profession when considering colleges. Of course, choosing a career you are passionate about is vital, but financial stability is also very important. Psychology is the most common college major; therefore, there is an overwhelmingly large supply. The demand, however, is low. So, median salaries are low. On the other hand, petroleum engineering is not the most common of majors, and, as petroleum has become more and more important, demand has increased. Therefore, the median salary is very high.
I don’t know if this is naïve of me or not, but I never knew people chose their major depending on money. I thought the point of pursuing a career was to pursue something you were passionate about. I realize that isn’t always very practical especially if someone wants to major in medieval literature. There is a demand factor in a profession that I realize must be considered, especially weighing in how expensive college is in this day and age. However, I don’t believe just anybody can partake in petroleum engineering. The profession is probably so lucrative because of the difficulty of the major; it’s the new version of rocket science. I plan on becoming a doctor, I realize on average most physicians make a decent salary. So I hope the deposit is worth it. I do believe that every major does have its outliers, so there are people in every profession with every major that happen to be wealthy. I think it’s subjective on the diligence and acumen of the person, not the major or college involved.
Some people may say that the college you go to will not matter and that it is just a name. Some people say to choose a major that you will enjoy studying for the rest of your life. But these things are hard to listen to when data reveals that only petroleum engineers will make a salary of over 100 thousand. It’s difficult to pursue our passions when we see the statistics and come to understand that we may have to work multiple minimum wage jobs in order to get by in the future. The price of a reputable college education may seem scary, but sometimes it is necessary if one wants to earn a large salary. (Ariana Stefanidis)
The supply and demand of college majors, which in turn lead to jobs, makes a lot of sense. Just like the relationship between supply and demand of businesses and their goods/products, the same applies to higher and lower paying jobs. Although it may seem unfair that carrying out your passion does not necessarily gives you the most money, the truth of the matter is that specialization and the degrees involving more skill result in the highest paying jobs. Therefore, instead of choosing a major that interests you, you should keep in mind the major's future economic potential while making your choice because money is a significant component of life, whether you choose to believe it or not. -Kevin Chao Period 8
Jugal Pd. 8 I really respect Michael Gardner's choice of pursuing what he wants to pursue over the monetary value given to the occupation. One of my father's biggest goals is that I make six figures right out of my undergraduate studies. If I was good at technology and science, my parents would have probably pushed me into engineering as it is, as show in this article, the highest paying field for a bachelor's degree. Because of my interest in business, my parents have begun to push that. While I am very interested in business, I am also interested in psychology. Even with this new found passion, my father continues to emphasize business as the perfect career path for me. I understand that his primary goal for me is financial security, and that if that is taken care of he would love if I pursued my passion. I hate how our society is set up to funnel people towards certain jobs just because of their high salaries.
Looking at those graphs actually made me smile since I really really really want to become an aerospace engineer. :D
Though engineering is important, a lot of the other jobs that are unrelated to the sciences are equally as important and should therefore pay about the same.
This doesn't surprise me one bit. I was always aware that the major you pick will greatly predetermine and influence one's future. I also knew, from class, that one reason why psychology majors don't make that much is because there is such a great supply. So many people go to college for psychology degrees, mainly because its easier compared to other majors. What kind of degree you get determines basically what kind of job you can get. People with engineering degrees get engineering jobs, and because the supply for them isn't all that great (at least compare to those with psychology degrees), thy end to get paid more. Honestly this was one reason why I picks computer engineering and physics as my protective major choices in college. It's part because I'm interested in both fields, but also because people with those majors tend to make a decent salary. -Period 8 / TM
Shivani Sharma Pd 9 I'm actually not so surprised at these statistics. It makes sense when saying that people have to be careful when picking their major- it can determine a lot after graduating college when trying to land interviews for jobs. It seems scary and somewhat unfair that a title of a potential career can effect how a PERSON can be marketable based on their skills. For example, the graph says that most engineers have the highest earnings; but these are very specific engineers such as Mining and Mineral Engineers. I could never imagine myself walking to a school and graduating with a degree that is associated with that. Since these types of jobs are unique and also rarely obtained, the salary is significantly higher. It's funny though, because so many people want to get into psychology, but they make the least money. Even though money doesn't define happiness, but having a good practice counts a whole lot!
This day and age the college somebody goes to determines how much one will earn. The college name is a big thing in todays society, a good and well known university will be able to help one get a quick and good job. Erin Ford is an example of this. On the other hand Michael Gardner graduated from a city school and can’t find a job. Its the survival of the fittest. The demand is crazy for certain jobs that didn’t even exist a decade ago. And the jobs a decade ago that were a high paying job is now a low income job. The real world can be brutal but many people aren’t educated enough on what they should do to do well. The supply and demand theory is true with the article about college.
I want to major in some type of engineering (mechanical or civil). I'm interested in the field and I know I’d enjoy the work for it. The story mentioned that the top earning majors (engineering) earn 4 times more than the least earning majors (social services and the arts). So I guess for me, it’s okay. But for others, I think that it’s better to major in something that they like to do. What is the point if you’re going to be miserable your entire life while doing it? If you enjoy what you do, then at least you’re happy with your life and the money will come by working. But if you hate what you do, then you’ll be less inclined to work and even if your job, on average, makes more money, you won’t do the work as well as you would if you loved your job. So even though the story influences people to major in something that earns more/most money, I think it’s more important to major in something that you enjoy doing, like Michael Gardener who was happy with earning $36,000 a year for helping people. -ArjunL Pd. 8
This article is proof that a degree can make or break a person's future career. While Erin Ford chose to pursue petroleum engineering, in high demand, and is now annually earning 110,000 a year, the psychology degree earned by Michael Gardner is less valued and his job's salary does not come close to Erin's. Regardless of the duration of the education. the major mattes the most, despite what interests a person has in other fields, not much can hide that jobs based in engineering top the highest paid list. What I was surprised was that I had expected psychology to be a higher paid job that the data shows. Because times are changing, our priorities change and at the moment because engineers are needed, they top the list. The circumstances that control major choice, now stress the importance in compromise between a job that provides economic stability and a job that a person would enjoy doing. D.M 8
Wow, it’s really surprising that what you major in college greatly affects your future income. I wasn’t aware of the large disparity between majors such as Petroleum Engineering (a major that I never really knew existed) and Psychology. The fact that Erin Ford makes six figures two years out of college at age 24 and Michael Gardner has trouble finding a job that fits his Psychology major and earns a third of Erin’s salary is mind-boggling. I never really put that much thought into my college major. Sure, I still have plenty of time, but this changes my perspective a bit. I have been more focused on the school itself rather than my definite major, which Anthony Carnevale of Georgetown University would say is the incorrect focus as what you major in has a bigger influence over your income that where you attend college. I always heard that Psych majors have difficulty finding jobs, but I wasn’t aware that the situation was this bad. Certainly, I will focus more on the major I choose in college and try to attempt and find a balance between a major and job that I love but also pays decently well. That’s the dream.
This article taught me that your major influences your life more than where you go to college. I learned jobs like engineering, pharmacy sciences, and math and computer science are majors that lead to the highest paying jobs. I think id agree with Michael Gardner that he would rather have a job he enjoys rather than study a major and get a job your not interested in for the money. I believe you will get more out of a job if you actually enjoy what you are doing. However this article makes me think about deciding where I want to go to college to benefit me. Lauren f pd 6
I obviously it makes sense to pay attention to how much you would make if you were to pursue a certain field in college. In my opinion, it matters how much you are motivated to go into an area of study once you apply for colleges. According to the chart, people with a visual arts degree makes the least amount of income, compared to the income of the engineers in the first graph. Although statistics show that visual arts are the lowest in earnings, I could not imagine myself not pursuing art further. Yes, I do care about being financially independent, but that does not stop me from working harder and harder to make it in the visual arts industry. Looking at these statistics is just routine for me. -paridhi Vayda
I think what this article really does is bring to light the balance between choosing a degree that can result in a job with a high salary and a degree that might not have as high paying jobs, but will bring more joy to the person. What this tells me as a prospective college student is that maybe money isn't everything and that perhaps it's more meaningful to have a job where I can make a significant positive impact on peoples' lives than a high paying job where I just stomp on people.
Won Park Period 9 It is pretty crazy that all these engineering majors get the most pay. This fact makes choosing a major that much harder. Although many people may say that money is not everything, you do need at least some sort of cash flow to lead a comfortable life. Going into psychology may be in someone's interest but it does not give you a lot of money. Should people do what they like or just do what makes the most money? Having the highest paid majors in 1 field makes it difficult to really go out and follow your passions. However, I do understand the the difficulty of the course load for engineering is very difficult and for that reason the money might be warranted.
I find it fascinating how much of a financial gamble college has become within the past decade. The supply and demand theory very much applies to college nowadays because there is a handful of people who want to have certain jobs, which will lead to a lot of financial gain (i.e. law). Sadly, there are not a lot of people who are aware of this phenomena due to a lack of exposure to what they should do to succeed.
I think this is one of the most relevant segments in our situation, as highschool seniors. We have to make one of the biggest decisions we will ever make so early in our lives. Money plays a factor in the decision, but it isn’t everything. If it were everyone would be trying to become some type of engineer. But everyone has a different preferences, different tolerances, and different fears. Take becoming a doctor for example, not many people can take seven years of school and residency. Not everyone can stomach through a surgery. But for the reason why it takes so many years of studying and the preference for the work is why the salary for doctors is so high. You have included personal preferences as well as the salary. Personal preferences include number of sick and vacation time, job location, weekly hours, and relative job difficulty. Like a business negation you have to bargain for the best value of these factors. You’re not going to get a job that requires no prior experience, little work hours, amazing benefits, and high pay. Find a job that you enjoy and can learn from over a job that pays well.
I am so fortunate for wanting to major in a lucrative field. My parents continually told me how important it is to find a job that pays well, and honestly I've never taken it into consideration. They've always wanted me to go into medicine, but I hate medicine. I felt that happiness is more important than anything else, so I, hopefully, am going to major in a field I enjoy a lot: computer science. But I'm ignorant in the sense that I don't know what it feels like to want to major in something that could be hard to make a living off of. I can't even begin to fathom how horrible it must feel for a person to give up his/her passion because it doesn't pay enough. And it really upsets me that our economy is structured this way, but at the same time I understand the importance of a market economy that sets prices based on supply and demand. Also, what's even more unfortunate is that the only possible solution I see would be just as bad. Putting an artificial cap on the amount of people allowed to go into certain majors would definitely balance out the supply surplus, but it would also be immoral to prevent people from doing what they want. This honestly upsets me a lot.
Okay, so I posted my comment, but I forgot to label it as myself, so I'm going to post another one. I am so fortunate in the sense that I want to major in a very lucrative field. For a lot of my life, my parents have told me that it's important to choose a well-paying field, such as medicine, and I feel like I haven't really ever taken that to heart. I feel that choosing something that makes you happy is more important than anything else. But I am ignorant in the sense that I don't know what it feels like to want to major in a field that isn't lucrative. I'm lucky because I want to go into computer science, a very lucrative field. I can't even imagine falling in love with a job and wanting to do it for the rest of my life but learning that it isn't lucrative enough. This upsets me a lot, but I also understand this is because we have a market economy and there are a lot of pros in having one. What really is unfortunate is that the only possible solution I can think of would be to limit the amount of people who go into one major to try and decrease the surplus, but that would be immoral in the same sense because, once again, you are preventing people from doing what they love. B.T Period 8
This article was really cool to see because I learned about my own major and was forced to ask myself a question. Do I want money? Or… Do I want to spend the rest of my life doing a job I really love? Personally I want to be a teacher, as it’s something that I love and feel I would be good at. It is obviously upsetting to know that I am embarking on a Major where the pay is low, but I think that doing something I love and making a difference in children’s lives will make up for the lack of money I know that some people purposely embark on a major solely because they want the large check and I have no problem with that, because career choice is for everyone to decide for themselves. But, for me I know that I wouldn’t be able to commit to a job I wasn’t happy doing. -Tara O'Shea
This article interestingly points out the differences between two degrees, both the same in duration, yet that one earns significantly more than others. This applies to the law of supply and demand since the petroleum engineering is in high demand resulting in the multitude of people who arrived to recruit Erin Ford, a petroleum engineer, upon completion of her degree. Meanwhile, Michael Gardner is working to make ends meet with the significantly lower paying job. The technological advancements in this day and age truly stress the importance of engineering jobs. They top the ten highest paying majors- showing that circumstances and supply and demand affect the pays of jobs, and how over time the importance of certain professions can wane and increase depending on the importance in the job market. There will always be majors that are lower paying comparative to others, but the importance changes over time. D.M, 8
This article was some stuff that i definitely already knew about my choice of major. As someone that knows that they want to be a computer science major every time i see one of these things i see the amount of money that i could make. With this being such a great career knowing how much fun it will be and the money that i will earn doing it, makes it even more exciting to think about and look forward to.
ReplyDelete-Thomas Fam
I honestly was not really shocked that the most paid majors is in the engineering section, i mean we all hear it but, who in gods name with a sane mind would choose such a boring job and i agree with that guy that even if many people knew this they wouldn't choose this major because everyone has different interest and maybe i got this whole economic thing wrong but since there are such little people choosing this major more companies are willing to pay more money to get these positions filled but, who knows im no pro at this. but, i think this go back to the happiness situation as long as your happy and love what you are doing does it matter how much you get paid, i feel that i would rather want to fulfill my own dreams than make 120,000 dollars a year but then again im only 1 out of 7 billion people in this world...
ReplyDeleteAM period 6
As Michael Gardner says, it is not about the money. Rather, it is whether or not the job would be fulfilling.
ReplyDeleteIt's interesting to consider that what one majors in is more important than the school one attends. This recording shows the importance of choosing the right major from the start of college. Doing so will avoid time and money wasted studying to receive a degree that won't make enough money to support a person or even a family. It was also interesting to consider why psychologists do not get paid as much as petroleum engineers do. Because there is such a high supply of psychologists, the paycheck a psychologist receives will be low.
ReplyDeleteAB
This makes a lot of scene that your major is the most important thing; not what college you go to. In many fields students come out of college in debt because they thought they had to go to Harvard for teaching but really all teachers make the same amount no matter where they go to. But the girl Erin, who majored in petroleum engineering and at 24, she makes $110,000 a year saw it as an economical advantage to major in engineering and not psychology like Michael Gardner making $36,000 a year as a case worker. Those who major in jobs that are not as in demand are more likely to get a better pay check because there is so few of them willing to do that job. But for people like Michael who does his job because he loves it and he finds it fulfilling, there’s nothing wrong with that. Some people don’t care in the end about money and sometimes those are the people who get the most out of there majors just for the experience and love of doing it. But like the article said not everyone is meant for every job out there. Those who find they cannot perform a job like Erin’s are going to have to take the lower paying jobs that suite them best. Maybe it’s more economically smart to have another degree in a field that pays higher than your first major so that you can have the financial stability but also do the job you love. I want to go to college and major in photography and I know it’s one of those majors that’s not going to pay as much so I always have a backup plan so that I don’t need to worry about money. Sometimes you have to put what you love aside in order to gain the financial stability to pursue what you really wanted later on in life. We would all love to come out of college making six digit salaries but that is very unrealistic when your major doesn’t exactly follow the normal route. So I guess by going against the crowd you have to be on your game and do whatever it is possible to keep you financially afloat.
ReplyDeleteSRB PERIOD 6
Supply and demand can also explain this trend. There are far more people that earn a B.A in psychology, biology, religion, counseling, and education than people earning a bachelor's in engineering. Taking a look at the graphs, all but one of the top 10 majors are engineering. But I think that the statistics can be quite misleading as these engineering majors have a lot of cons themselves. Petroleum engineering, for instance, makes 120K. But one would need to graduate from an accredited PetE program, which are extremely rare. Nearly every undergrad has psychology or basic science majors but not PetE, lowering the supply of PetE majors. Also, PetE requires a lot of commitment. Their work hours are incredibly high, comparable to doctoral residents and you probably won't be working in any of the major cities, but where the oil is (which turns off a lot of people). Couple that with increasing demand for energy and there you have it - the reason why PetE majors make so much money. I personally think it's fluff.
ReplyDeleteBen Jung period 9
R.L. Per. 8
ReplyDeleteAs a high school senior, I am inevitably thinking about this every day. Do I want to pick a major where I’m guaranteed a high-paying job after I graduate or do I want to pick a major I feel passionate about? Clearly, for Michael Gardner, the choice was easy and he went with his passion for psychology. However, that is not the case for every student. I think all of us with an exception of a few people who know exactly what they want to do in the future are scared to make that final decision. I do agree with Carnevale that what you major in has a bigger influence over your income than where you go to school. Erin Ford was certainly very lucky because she picked a right major for the right time where there is a low supply of engineers and a high demand for them. Although I’ve finally decided I want to major in finance, I change my mind every day because the influences of my parents and any resources I find online make me rethink about my choice. Am I making the right decision? It’s twice as hard for me because I don’t have anything that I feel really passionate about unlike some of my friends who are obsessed with art even though they are fully aware that it’s harder to become successful in the art field because there are tons of talented artists who are seeking to be noticed in the time where the demand for them is low. I admire them for following their passion despite the fact that there is a bigger possibly that they are not going to make $110,000 a year like Erin Ford. Passion and money both play a huge factor in students’ decisions on their majors, and in my opinion, it’s rare to fulfill both factors. I think some students who just read this article might even have changed their thoughts on what they want to major in and are now seeking to major in engineering since it is the highest-earning major.
Time to major in petroleum engineering.
ReplyDeleteAnd yet I'm not going to, because it doesn't sound as cool or intriguing as I want to major in. At the same time, however, my major doesn't pay poorly by any stretch of the imagination and there's no doubt that the median income is a major motivating factor in my decision. There's simply no way past the importance of income, yet fields that pay poorly need to be filled (and appear to be shockingly popular anyway). I could vaguely understand chasing a degree out of personal interest, but with the high and ever-rising cost of a college education, investing in a low paying degree simply seems pointless if you're not already bathing in money.
JW Per. 9
I think that it is okay that there is a salary difference in these jobs because some are in higher demand than others, and their work makes more money for the company so it is okay to pay them more. Also, they could be more challenging than other jobs, leading to less students wanting to major in that line, raising the salary for those who choose to take that challenge. I think this salary difference may cause more students to want to do the higher ranged jobs, although there will still be some that love the lower paying job so much they cant leave it, and this will cause the supply for some of those higher paying jobs to increase and the lower paying jobs to decrease, thus lessening the gap between the salaries.
ReplyDelete- Karan L. Period 8
I am not sure if choosing a major based on what degree will earn the most money is the right thing to do. It's probably the smart thing to do. It's funny that the reason psychology majors get paid so little is the high amount of people that have pysch degrees. It will be interesting to see when engineering degrees will start to earn less. Though this might not happen considering the fact it's hard to actually get an engeneirng degree. AA Per 9
ReplyDeleteIts interesting to see that the more technical, and specific degrees lead to the highest average earnings. This indicates that the less replaceable a person is, the higher he/she gets paid. Also this graph shows that people with degrees in the arts and theater category, aren't very employable and indicates, that for the most part, those degrees are useless for all purposes, with the exception of personal edification. But this graph fails to account for the relative difficulty of attaining certain majors; I assume that a major in petroleum engineering requires more time and effort than perhaps a social work major. But aside from that, this graph does show a lot about the employability, or lack thereof, of certain majors. It would be interesting to see employment rate added to this information, as it would reveal even more about these majors.
ReplyDeleteE.S. per 8
Jonathan Chen - Period 9
ReplyDeleteEveryone develops their own interests and passions throughout the course of their life. Although it seems fair that jobs in higher demand will yield more pay, it's still kind of upsetting to see the massive variety in median earnings that is created from this difference in demand ($30k to #120k). People who happen to devote themselves to the "wrong" jobs will later find themselves earning a lot less than someone who studies engineering or medicine. To the unknowing college graduate, it might seem almost like a matter of luck.
The charts in the article were rather scary because many of the majors I thought made more money than what was shown on the chart. It is crazy to think that the major has a bigger influence on how much money one will make over the actual college. It makes me think if the major I decide will be good.
ReplyDelete-VG Prd. 6
I feel like as time goes on, there are less and less majors that are actually lucrative these days, and those that are extremely competitive and usually involved the most educated. That's why engineering, STEM in general, and finance are the most high paying jobs. Also, I find that math is becoming more and more important in today's world, for everything is becoming technology and STEM driven. Therefore, when I find that my whole entire grade seems to be going into the same fields over and over again, I don't really blame them. As much as someone may love English or psychology- What are you going to do with that major? go into academia? People need to make money to, and in today's market, the ability to be creative and adapt to the rapid changes of the world is the greatest quality that anyone can have, engineering especially harbors those qualities.
ReplyDelete- Maisha Savani PD.8
I felt mixed emotions while viewing the graph presented in the article The Most (And Least) Lucrative College Majors. I had prior knowledge that engineering majors receive the highest earnings and are greatly in demand in the labor market. This upsets me because I hate math and science, so I cannot pursue these majors. Another thing that upset me was that psychology and human services majors were on the lowest earning list. These are the two majors I am most interested in. Although I want to pursue something I love, I will not be happy if I don’t have a high income to live a good life. I want to be able to support myself and afford luxuries. It said that the graph displays data of individuals who have bachelors’ degrees, so I am guessing having a master’s degree gets you higher pay.
ReplyDeleteLauren S. Period 6
After reading the article and reviewing the graphs, it really opened my eyes to the “real world.” Before reading the article I had some idea as to how your major affects your future income. But now I have a better understanding the two and how they go hand in hand. I think that most people go with their heart and what makes them happy. But at the end of the day it’s truly a decision between happiness or income. If you are happy with the career that you chose to pursue then that’s all that really matters. I hope that in future I am able to have the best of both worlds, happiness and a reasonable income.
ReplyDeleteMelinda R
Economics
Period 6
Robert Lis -Pd 9
ReplyDeleteI always knew that the college you go to itself would not provide you with a high paying job, but I never knew that each major could have such a drastic impact on the amount of money you will make. I found it shocking that an engineering job could having a starting wage of over $100k, considering many Americans do not make no where near that amount per year. I also agree that not all people can make it in certain majors and jobs because you must be able to have certain skills and abilities that will help you to be successful in that field. Different people are better at certain things than others, and will succeed in the field they are strongest in. It is good that some people want to help other people (social workers), but the pay for these jobs is incredibly low and it would be extremely difficult to live comfortably under these conditions. Personally, I would also want to help other people, but I cannot live off of only $40k a year. It is vital to choose a major in college that you know will get you the exact type of job you are looking for, whether it be one in which you make a lot of money or one in which you help people more rather than making a lot of money for yourself. It seems to be the case that as you increase your education, you will also get better paying jobs in many cases.
Coming from a student who is going to start college in just a few months, I felt that this piece was very interesting. In a sense, I feel as if the fact that this article even exists indicates the state of our value system. As a society, we put more value into making money than fulfilling our inner passions. I think there is much need for this type of mentality-- as someone who will eventually be entering the job market, I want to have the security of knowing that the money I spend to get a college education will be reimbursed through a high-paying job. It would be a lie to say that I do not prioritize income over certain other qualities-- however, there is a limit to how far I would go to make money. I think conflict occurs when people disagree over where exactly this limit should exist. In my opinion, everyone's individual limit is a reflection of their personal life and the impact it has had on the the way they perceive their community. For example, my family has grounded within me the value of a dollar to such an extent that I now have a tendency to think about my actions from an economical rather than social point of view. Thereby, I know that I would never go into a profession in which I see no economical future. However, I also know that I won't spend everyday doing something I don't enjoy, even if I would make a huge profit from doing so. I hope to find a balance that I am comfortable with once I enter the job-market.
ReplyDeleteShweta (Pd 8)
AHirani Prd. 9
ReplyDeleteI don't think that this information is anything new. For example, since there is an abundance of psychologists, it's natural that they would get paid significantly less than those who did something like petroleum engineering since there are barely any of them. Not only that, but occupations like petroleum engineering are needed and there aren't enough people trying to fill that job. I don't think people should go for a degree for the money, but I do think it should play a role. For example, if someone wants to go into psychology, they should probably go into industrial psychology since they make much more than the average person with a psychology degree.
Like Gardner, I thought it was amazing how much major in petroleum engineering make compared to other degree holders. Moreover, I was appalled by how low earnings were for social workers, community service workers, and counselors–in many cases, it seems that the lowest paying jobs are often the ones that are viewed as the most fulfilling, as if the lawyers and finance majors who often hire the lowest-paid degree holders are punishing them for doing something useful (to borrow an idea from the Graeber essay). As I worry about college admissions, (at least in part because a good college will get me a higher-paying job in the future) I can’t help but think I might be going about this wrong.
ReplyDeleteKaran Singhal
AP Econ Pd. 9
i cannot agree with this more. cuz how many people can get into mit. jobs are not only provided to only mit students. major is the most important thing. if the major is harder, less people will take it, the competition will be less. luckily, i pick chemical engineering as me future major. how hard the major is directly reflects how much they will earn in the future.
ReplyDeleteper 9
yan
This voice clip I believed, hit some major points. For starters, the demand for jobs in various sectors of work are completely unbalanced. Where the greater demand for a job is present, the supply of workers for that job is not present and vice versa. Where there is a low demand for a specific job, the supply of workers are much higher. People do not realize that in order to earn more money, they have the skill set required of that of the higher demanding job. And I believe that is the problem. Too many people are settling for easier college majors instead of going head first into the more difficult ones that will gain them the most advantage in the end. In the world today, most people look for the simplest way out and gain less that those who challenge themselves. An example of this is the amount of Psychology Majors vs. the amount of Petroleum Majors. The number of Psychology Majors is too large for the demand thus earning less whereas the number of Petroleum Majors is too small for the demand thus earning so much more.
ReplyDelete-Maresa M. Pd 8.
I believe we live in a sad world where not everyone can make a great living doing what they love. Being at a school like Herricks and coming from a mixed but largely Chinese background, all around me, I see people who go into, whether they want to or not, the math and science fields. I've similarly been pushed into studying similar fields--engineering, pharmacy, doctor, whatever. But I've never given in to the pressure. It honestly does scare me, knowing that what I love learning and what I want to pursue as a career likely won't earn me as much money as if I become a doctor or an engineer. It makes me sad. Sometimes it makes me mad. I think our society promotes math and science as being more important than English, History, the arts, etc. To some extent, I understand it. I understand the supply and demand side of it. Fewer people are going to go through the studies required to be an engineer or to be a doctor, and more people are going to major in the arts or social sciences. But I think both are equally important, and that's not necessarily shown in our society. I've grown up feeling that I won't be as successful and that I won't be as important because I definitely don't plan on going into the math or science field. I don't intend on switching into those fields though. I will continue to pursue my interest in International Relations and International Development. I'm glad that more recently, there's been a push to encourage people to pursue their true passions. There's been a push to encourage women to enter the math and science fields because they've been pushed away from it for so long. And yes, it's true; for the most part, those studying English, history, etc won't be studying as much or at the same level, but I think it requires a potentially different skill set than the math and sciences. I think there will always be a smaller supply and greater demand for people in the math and science fields and a larger supply and lower demand for people in other fields. I don't think the imbalance will change any time soon; I don't have much hope for that change. But I hope that we as a society can someday come to respect all professions in the same way we respect doctors and engineers. I hope that one day people can realize that all people with all different interests and jobs are needed and important. It'll be hard to change supply and demand in the fields discussed in the article, but I'm glad that Gardner says he wouldn't change his path. We should all be able to pursue our passions and succeed, though success may be characterized in different ways. After all, what's monetary success if you hate going to work every day?
ReplyDeleteJess pd9
This article is really important for me to know because I'm a senior now applying to college. The major I decide to study will affect my chances of getting a job. So many people care about where they actually study instead of focusing on the whole point of going to college; to get a job. I should not be swayed into choosing a major because it's easy but chose a major that will help me get the right, stable job.
ReplyDelete- Lydia G
LP Pd 8
ReplyDeleteWow! That's insane $110,000 at the age of 24... and that salary will probably go up even more as she works more. As appealing as the salary sounds, I also think that if there is no interest in a certain major, in this case engineering, then why would you want to spend your entire life working in that field? I understand making money is important to survive and to take care of yourself and your future family, but I agree with Gardner; we should do something we genuinely enjoy. I think this is great to be aware of what major is in demand because then we, the future workforce, will be able to supply that demand in the field. But as for me this fact is eye opening and of course it's appealing; however, I can't imagine myself studying petroleum engineering? Let alone work 30+ years in that field.
I found the article and graph very telling of the priorities and valued skillsets of our society. I found it sad in a way how our society places the value of a petroleum engineer three times that of a preschool teacher. I guess this borked value system can be somewhat justified, as there are no where near as many people qualified to become petroleum engineers as there are people qualified to become preschool students. I understand the high pay of these engineers, but the more troubling issue is the fact that the pay for preschool teachers is so low. The most successful people in the world would not be where they are today had it not been for their educations, including at the earliest level. I feel like the value our society places on people such as teachers and social workers should be much higher than it is currently, because without these people educating our youth, there would not be people qualified to become petroleum engineers.
ReplyDelete-KH8
Im surprised that the guy whos making 36,000 a year is happy. I think if I was him, even though id be doing what I love, I would have to reconsider my path because, theres only so much you can achieve in life without giving up stuff. I think hes stupid to not decide to switch his major if he was told the info earlier because he knows his life will be harder and he wont be able to utilize his full potential.
ReplyDeleteI've thought a lot about what I wanted to study in college. Money is a huge factor for me, because I want to be able to support myself comfortably, and there is a sense, from being a first generation American, that I have to do better than my parents, who came to this country with almost nothing. I had know about these statistics, and had actually stumbled across this radio clip in my research before, because I wanted to make the best decision I could. Engineering was out of the picture for me. I love math, and have a liking in science, but there are many other subjects that I would rather pursue. I came across industrial design almost by accident, and after I had started reading up on it, I feel in love because of the very prosperous job opportunities and that I could get this degree while studying at an art college. Industrial designer are everything that engineers can't be. The way I describe the major and career is fixing what engineers invented. It's about creating products that keep the user in mind so the products are functional. This can be anything from something simple, like a chair, to the design of car controls, to an iphone. I wouldn't have decided I wanted to go in this direction if it weren't for the money and the pleasure combined. If I wanted to make a ton of money, I'd study petroleum engineering, if I wanted to study what I'd love, I study painting, but, what I learned two things from my parents, if all i think about is money, I'll end up like my mother, working a job I hate for over thirty years, or like my father, studying what I love, trying to make it in that field, and end up becoming a teacher because I need some job. Either way I end up in a situation I didn't want to be in, so choosing a major that sort of balances the two is what i ended up doing. I don't get why more students don't think about their careers and majors like that. Psychology isn't a promising major, yet I know people that want to study it. It's not that people shouldn't study it, but you don't have to major in something you hate to make more money.
ReplyDeleteAP Economics Pd.8 Chirag Soni
ReplyDeleteI recently was research what the highest paying majors were and came across petroleum engineering. My first reaction was to do some research and make sure I go to a college with that major; however, after thought I realized that that type of work wouldn’t really interest me. Still I feel that my major should be something that earns a decent amount of money once you graduate. It makes sense that the more advanced your degree is the higher your salary will be because employees will be looking for people with your qualifications. If you get an advanced enough degree, they will pay much more for you compared to some who has the basic qualifications needed for the job. A similar situation happened to me today at work. At Kumon, because I am in AP Calc, my skill sets is far larger than many of the other employee’s. I think that because I offer a larger skill set they gave me a raise while most of the other employees remained on their starting salary.
My opinion of jobs and income is very much like Gardner -- money shouldn't be the all end tale for success and happiness. If a person really likes what he is doing, then, despite all the statistics, I truly believe that person could still earn alot of money. Yes, being a doctor or a surgeon or a petroleum engineer makes alot of money... but people who don't want to be doctors and are only focused on the end result income are the people that usually drop out from the rigors of medical school. As of now, I would really want to be an engineer; the field that I end up majoring will not take income as the only factor.
ReplyDeleteJim Tse
First off, I don't completely agree with way the story seemed to disregard where a person goes to study. I think that if two people graduate with the same degree with one from an Ivy League and another from a state school and they apply for the same job, it's pretty obvious that the Ivy Leaguer will get hired. I do agree with the fact that the laws of supply and demand have a big effect on earning potential, therefore making the procedure of choosing a major all the more nerve-wracking. I think it is very important that we invest in education because a good education can never be taken away from a person and will only help further their career. I feel like after hearing this story, many people are going to decide to major in petroleum engineering to receive the highest income possible. I think it's ironic though that due to the laws of supply and demand, if more and more people decide to become petroleum engineers, the demand will decrease and we'll have another highest paying job that everyone will redirect themselves to. I think people should like their jobs, but shouldn't fall in love with them because the more passionate they are about it, especially if it has a history of having a low-earning potential, the more they will be willing to accept a lower salary in exchange for doing something they enjoy. It's just interesting how the cycle never seems to end in the chase for the highest paycheck.
ReplyDelete- VL Period 8
This article was very interesting because it gave a very detailed example and covered a wide range of data through two charts illustrating the highest paying college majors and the lowest paying college majors on average. The example showed a woman who got her degree in petroleum engineering and was making approximately $110,000 per year as apposed to the man who struggled to get a job after he got his degree in psychology then however landed a job as a case worker making close to $36,000 per year. I would infer that it was hard for the psychology major to get a job because there is a lot of people who major in his field and the competition is fierce while the woman probably had no competition in such a specific and rare major which made her type of expertise very sought out. what intrigued me the most was that studies show that what you major in affects how much you make more than the university you attend. Through the use of the graphs the author showed trends that engineers are making more money on average than most majors which i was completely caught off guard by. Stephen F. Period 6
ReplyDeleteIts not about your level of education but what you can provide. You need to fill the supply because the demand is what gets you paid. The two college graduates' stories were not shocking as obviously engineers are the job that is more in demand which is why Ford got paid 6 figures right out of college and the psychology major struggled to find work. This really emphasizes the value of choosing a major and a college degree because in conjunction leads to a well paying job
ReplyDeleteKJ PD 8
Zeeshan Anwar – Period 8
ReplyDeleteThe segment “Most (And Least) Lucrative College Majors, In 1 Graph” on which degrees lead to higher paying jobs, on average, was definitely informational and prevalent, especially because my peers and I are headed off to college next year. Prior to listening to this news piece, I was not aware that petroleum engineering is currently the college major with the highest earnings on average; quite frankly, I had never even come across petroleum engineering as a college major. Nonetheless, the college major is evidently in demand, explaining why Erin Ford did not have to go through the job search process; interestingly enough, the jobs came chasing after her. On the other hand, Michael Gardner, by choosing a more common and typical college major in psychology, had difficult acquiring a job of his liking because a degree in psychology is simply not as valuable, relatively speaking. Although I do not wish to pursue petroleum engineering as my college major, this newscast definitely made me conscious of the importance behind choosing a college major; in some cases, it may have a bigger influence over one’s income than where one goes to school. Without question, I will research meticulously the job prospects in the college majors of my interest and decide accordingly.
I think it's incredibly important to consider the supply and demand of your future profession when considering colleges. Of course, choosing a career you are passionate about is vital, but financial stability is also very important. Psychology is the most common college major; therefore, there is an overwhelmingly large supply. The demand, however, is low. So, median salaries are low. On the other hand, petroleum engineering is not the most common of majors, and, as petroleum has become more and more important, demand has increased. Therefore, the median salary is very high.
ReplyDeleteI don’t know if this is naïve of me or not, but I never knew people chose their major depending on money. I thought the point of pursuing a career was to pursue something you were passionate about. I realize that isn’t always very practical especially if someone wants to major in medieval literature. There is a demand factor in a profession that I realize must be considered, especially weighing in how expensive college is in this day and age. However, I don’t believe just anybody can partake in petroleum engineering. The profession is probably so lucrative because of the difficulty of the major; it’s the new version of rocket science. I plan on becoming a doctor, I realize on average most physicians make a decent salary. So I hope the deposit is worth it. I do believe that every major does have its outliers, so there are people in every profession with every major that happen to be wealthy. I think it’s subjective on the diligence and acumen of the person, not the major or college involved.
ReplyDelete-TB AP Econ period 9
Some people may say that the college you go to will not matter and that it is just a name. Some people say to choose a major that you will enjoy studying for the rest of your life. But these things are hard to listen to when data reveals that only petroleum engineers will make a salary of over 100 thousand. It’s difficult to pursue our passions when we see the statistics and come to understand that we may have to work multiple minimum wage jobs in order to get by in the future. The price of a reputable college education may seem scary, but sometimes it is necessary if one wants to earn a large salary. (Ariana Stefanidis)
ReplyDeleteThe supply and demand of college majors, which in turn lead to jobs, makes a lot of sense. Just like the relationship between supply and demand of businesses and their goods/products, the same applies to higher and lower paying jobs. Although it may seem unfair that carrying out your passion does not necessarily gives you the most money, the truth of the matter is that specialization and the degrees involving more skill result in the highest paying jobs. Therefore, instead of choosing a major that interests you, you should keep in mind the major's future economic potential while making your choice because money is a significant component of life, whether you choose to believe it or not.
ReplyDelete-Kevin Chao Period 8
Jugal Pd. 8
ReplyDeleteI really respect Michael Gardner's choice of pursuing what he wants to pursue over the monetary value given to the occupation. One of my father's biggest goals is that I make six figures right out of my undergraduate studies. If I was good at technology and science, my parents would have probably pushed me into engineering as it is, as show in this article, the highest paying field for a bachelor's degree. Because of my interest in business, my parents have begun to push that. While I am very interested in business, I am also interested in psychology. Even with this new found passion, my father continues to emphasize business as the perfect career path for me. I understand that his primary goal for me is financial security, and that if that is taken care of he would love if I pursued my passion. I hate how our society is set up to funnel people towards certain jobs just because of their high salaries.
Looking at those graphs actually made me smile since I really really really want to become an aerospace engineer. :D
ReplyDeleteThough engineering is important, a lot of the other jobs that are unrelated to the sciences are equally as important and should therefore pay about the same.
KK period 8
This doesn't surprise me one bit. I was always aware that the major you pick will greatly predetermine and influence one's future. I also knew, from class, that one reason why psychology majors don't make that much is because there is such a great supply. So many people go to college for psychology degrees, mainly because its easier compared to other majors. What kind of degree you get determines basically what kind of job you can get. People with engineering degrees get engineering jobs, and because the supply for them isn't all that great (at least compare to those with psychology degrees), thy end to get paid more. Honestly this was one reason why I picks computer engineering and physics as my protective major choices in college. It's part because I'm interested in both fields, but also because people with those majors tend to make a decent salary.
ReplyDelete-Period 8 / TM
Shivani Sharma Pd 9
ReplyDeleteI'm actually not so surprised at these statistics. It makes sense when saying that people have to be careful when picking their major- it can determine a lot after graduating college when trying to land interviews for jobs. It seems scary and somewhat unfair that a title of a potential career can effect how a PERSON can be marketable based on their skills. For example, the graph says that most engineers have the highest earnings; but these are very specific engineers such as Mining and Mineral Engineers. I could never imagine myself walking to a school and graduating with a degree that is associated with that. Since these types of jobs are unique and also rarely obtained, the salary is significantly higher. It's funny though, because so many people want to get into psychology, but they make the least money. Even though money doesn't define happiness, but having a good practice counts a whole lot!
This day and age the college somebody goes to determines how much one will earn. The college name is a big thing in todays society, a good and well known university will be able to help one get a quick and good job. Erin Ford is an example of this. On the other hand Michael Gardner graduated from a city school and can’t find a job. Its the survival of the fittest. The demand is crazy for certain jobs that didn’t even exist a decade ago. And the jobs a decade ago that were a high paying job is now a low income job. The real world can be brutal but many people aren’t educated enough on what they should do to do well. The supply and demand theory is true with the article about college.
ReplyDelete- Period 9, N. G.
I want to major in some type of engineering (mechanical or civil). I'm interested in the field and I know I’d enjoy the work for it. The story mentioned that the top earning majors (engineering) earn 4 times more than the least earning majors (social services and the arts). So I guess for me, it’s okay. But for others, I think that it’s better to major in something that they like to do. What is the point if you’re going to be miserable your entire life while doing it? If you enjoy what you do, then at least you’re happy with your life and the money will come by working. But if you hate what you do, then you’ll be less inclined to work and even if your job, on average, makes more money, you won’t do the work as well as you would if you loved your job. So even though the story influences people to major in something that earns more/most money, I think it’s more important to major in something that you enjoy doing, like Michael Gardener who was happy with earning $36,000 a year for helping people.
ReplyDelete-ArjunL Pd. 8
This article is proof that a degree can make or break a person's future career. While Erin Ford chose to pursue petroleum engineering, in high demand, and is now annually earning 110,000 a year, the psychology degree earned by Michael Gardner is less valued and his job's salary does not come close to Erin's. Regardless of the duration of the education. the major mattes the most, despite what interests a person has in other fields, not much can hide that jobs based in engineering top the highest paid list. What I was surprised was that I had expected psychology to be a higher paid job that the data shows. Because times are changing, our priorities change and at the moment because engineers are needed, they top the list. The circumstances that control major choice, now stress the importance in compromise between a job that provides economic stability and a job that a person would enjoy doing.
ReplyDeleteD.M 8
Wow, it’s really surprising that what you major in college greatly affects your future income. I wasn’t aware of the large disparity between majors such as Petroleum Engineering (a major that I never really knew existed) and Psychology. The fact that Erin Ford makes six figures two years out of college at age 24 and Michael Gardner has trouble finding a job that fits his Psychology major and earns a third of Erin’s salary is mind-boggling. I never really put that much thought into my college major. Sure, I still have plenty of time, but this changes my perspective a bit. I have been more focused on the school itself rather than my definite major, which Anthony Carnevale of Georgetown University would say is the incorrect focus as what you major in has a bigger influence over your income that where you attend college. I always heard that Psych majors have difficulty finding jobs, but I wasn’t aware that the situation was this bad. Certainly, I will focus more on the major I choose in college and try to attempt and find a balance between a major and job that I love but also pays decently well. That’s the dream.
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeleteThis article taught me that your major influences your life more than where you go to college. I learned jobs like engineering, pharmacy sciences, and math and computer science are majors that lead to the highest paying jobs. I think id agree with Michael Gardner that he would rather have a job he enjoys rather than study a major and get a job your not interested in for the money. I believe you will get more out of a job if you actually enjoy what you are doing. However this article makes me think about deciding where I want to go to college to benefit me.
ReplyDeleteLauren f pd 6
I obviously it makes sense to pay attention to how much you would make if you were to pursue a certain field in college. In my opinion, it matters how much you are motivated to go into an area of study once you apply for colleges. According to the chart, people with a visual arts degree makes the least amount of income, compared to the income of the engineers in the first graph. Although statistics show that visual arts are the lowest in earnings, I could not imagine myself not pursuing art further. Yes, I do care about being financially independent, but that does not stop me from working harder and harder to make it in the visual arts industry. Looking at these statistics is just routine for me. -paridhi Vayda
ReplyDeleteI think what this article really does is bring to light the balance between choosing a degree that can result in a job with a high salary and a degree that might not have as high paying jobs, but will bring more joy to the person. What this tells me as a prospective college student is that maybe money isn't everything and that perhaps it's more meaningful to have a job where I can make a significant positive impact on peoples' lives than a high paying job where I just stomp on people.
ReplyDeleteD.C. Period 8
Won Park Period 9
ReplyDeleteIt is pretty crazy that all these engineering majors get the most pay. This fact makes choosing a major that much harder. Although many people may say that money is not everything, you do need at least some sort of cash flow to lead a comfortable life. Going into psychology may be in someone's interest but it does not give you a lot of money. Should people do what they like or just do what makes the most money? Having the highest paid majors in 1 field makes it difficult to really go out and follow your passions. However, I do understand the the difficulty of the course load for engineering is very difficult and for that reason the money might be warranted.
I find it fascinating how much of a financial gamble college has become within the past decade. The supply and demand theory very much applies to college nowadays because there is a handful of people who want to have certain jobs, which will lead to a lot of financial gain (i.e. law). Sadly, there are not a lot of people who are aware of this phenomena due to a lack of exposure to what they should do to succeed.
ReplyDeleteI think this is one of the most relevant segments in our situation, as highschool seniors. We have to make one of the biggest decisions we will ever make so early in our lives. Money plays a factor in the decision, but it isn’t everything. If it were everyone would be trying to become some type of engineer. But everyone has a different preferences, different tolerances, and different fears. Take becoming a doctor for example, not many people can take seven years of school and residency. Not everyone can stomach through a surgery. But for the reason why it takes so many years of studying and the preference for the work is why the salary for doctors is so high. You have included personal preferences as well as the salary. Personal preferences include number of sick and vacation time, job location, weekly hours, and relative job difficulty. Like a business negation you have to bargain for the best value of these factors. You’re not going to get a job that requires no prior experience, little work hours, amazing benefits, and high pay. Find a job that you enjoy and can learn from over a job that pays well.
ReplyDeleteI am so fortunate for wanting to major in a lucrative field. My parents continually told me how important it is to find a job that pays well, and honestly I've never taken it into consideration. They've always wanted me to go into medicine, but I hate medicine. I felt that happiness is more important than anything else, so I, hopefully, am going to major in a field I enjoy a lot: computer science. But I'm ignorant in the sense that I don't know what it feels like to want to major in something that could be hard to make a living off of. I can't even begin to fathom how horrible it must feel for a person to give up his/her passion because it doesn't pay enough. And it really upsets me that our economy is structured this way, but at the same time I understand the importance of a market economy that sets prices based on supply and demand. Also, what's even more unfortunate is that the only possible solution I see would be just as bad. Putting an artificial cap on the amount of people allowed to go into certain majors would definitely balance out the supply surplus, but it would also be immoral to prevent people from doing what they want. This honestly upsets me a lot.
ReplyDeleteOkay, so I posted my comment, but I forgot to label it as myself, so I'm going to post another one. I am so fortunate in the sense that I want to major in a very lucrative field. For a lot of my life, my parents have told me that it's important to choose a well-paying field, such as medicine, and I feel like I haven't really ever taken that to heart. I feel that choosing something that makes you happy is more important than anything else. But I am ignorant in the sense that I don't know what it feels like to want to major in a field that isn't lucrative. I'm lucky because I want to go into computer science, a very lucrative field. I can't even imagine falling in love with a job and wanting to do it for the rest of my life but learning that it isn't lucrative enough. This upsets me a lot, but I also understand this is because we have a market economy and there are a lot of pros in having one. What really is unfortunate is that the only possible solution I can think of would be to limit the amount of people who go into one major to try and decrease the surplus, but that would be immoral in the same sense because, once again, you are preventing people from doing what they love.
ReplyDeleteB.T Period 8
This article was really cool to see because I learned about my own major and was forced to ask myself a question. Do I want money? Or… Do I want to spend the rest of my life doing a job I really love? Personally I want to be a teacher, as it’s something that I love and feel I would be good at. It is obviously upsetting to know that I am embarking on a Major where the pay is low, but I think that doing something I love and making a difference in children’s lives will make up for the lack of money I know that some people purposely embark on a major solely because they want the large check and I have no problem with that, because career choice is for everyone to decide for themselves. But, for me I know that I wouldn’t be able to commit to a job I wasn’t happy doing. -Tara O'Shea
ReplyDeleteThis article interestingly points out the differences between two degrees, both the same in duration, yet that one earns significantly more than others. This applies to the law of supply and demand since the petroleum engineering is in high demand resulting in the multitude of people who arrived to recruit Erin Ford, a petroleum engineer, upon completion of her degree. Meanwhile, Michael Gardner is working to make ends meet with the significantly lower paying job. The technological advancements in this day and age truly stress the importance of engineering jobs. They top the ten highest paying majors- showing that circumstances and supply and demand affect the pays of jobs, and how over time the importance of certain professions can wane and increase depending on the importance in the job market. There will always be majors that are lower paying comparative to others, but the importance changes over time.
ReplyDeleteD.M, 8