According to a study from Bankrate, the 15 most valuable college majors are all part of STEM, with electrical engineering taking first place, computer engineering in second, and petroleum engineering in third place. These degrees take determination, focus, and intelligence to acquire. STEM degrees can also be time consuming due to the long hours of studying required to learn and understand the information. STEM degrees are considered to be very challenging due to the demanding course work. Yet, STEM majors are expected to grow faster than non-STEM majors, with STEM degrees growing 7% compared to 2% for other fields. So why are students taking the difficult STEM route?
The most clear reason people turn to STEM degrees is that STEM degrees lead to high paying jobs. STEM occupations contribute to 69% of the US GDP and $2.3 trillion in federal tax revenue. STEM workers have salaries of about $64,000, higher than the $40,000 earned by those working in non STEM-occupations.
Furthermore, a study conducted by CYTENA revealed that California has the highest paying STEM jobs. In California, there is an average salary of nearly $125,000 before taxes. Washington is second with an average salary of $124,000 pretax, and New York is in third place with $114,437. In 2019, STEM workers earned an average of $86,980, according to the United States Department of Labor. These high paying jobs caused people to turn to STEM careers.
Relating back to Bankrate’s report, electrical engineering, computer engineering, and petroleum engineering are the most valuable degrees. Electrical engineers make a median salary of $115,000. Computer engineers make a median salary of $112,000. Petroleum engineers make a median salary of $100,000.
However, money is not the only advantage of having a STEM career. Joining classes aligned with STEM occupations helps students form skills that can benefit them in general life. STEM is one of the many legitimate foundations to a general education, and at its core is about analytic skills and problem solving. Likewise, STEM degrees also help individuals develop skills such as critical thinking and analyzing information. Students are encouraged to question assumptions, analyze data, and develop solutions.
Additionally, there are many opportunities in gaining a job related to STEM. Science, technology, and engineering are relevant to nearly every industry. Specifically with technology, since it is rapidly evolving, it requires highly skilled professionals to help in the industry. This means that acquiring a STEM degree can lead to a large range of career options. With many opportunities, STEM careers have a lower unemployment rate, and many have managed to secure advanced degrees.
As people continue to turn to STEM degrees, there has been an increase in employment for STEM careers. The growth rate of STEM careers have been 2 times higher than non-STEM occupations. Moreover, according to Yeti Academy, employment in STEM careers is predicted to grow 8.8% by 2028. Healthcare careers, which usually require a strong STEM background, are predicted to grow even more.
So, even though students take on challenging courses to earn STEM degrees, they become very helpful in their future. STEM degrees allow vast opportunities of different STEM careers. As seen by the numbers, STEM occupations have high wages that help individuals provide for themselves. In the end, students earning STEM degrees are setting themselves up for bright and promising futures.