Not Medicine! These Are the University Majors with the Highest Salaries

A university major can have a significant impact on a person’s future income. Data from the Federal Reserve Bank of New York shows a salary gap of more than US$80,000, or approximately Rp1.4 billion (at an exchange rate of US$1 = Rp18,000), per year between the highest- and lowest-paying majors at mid-career. The study compared the median salaries of workers aged 35-45 from 73 university majors. The results showed that Chemical Engineering is the highest-paying major. Graduates in this field earn a median salary of US$135,000 per year. The next positions are held by Computer Engineering at US$131,000, followed by Aerospace Engineering at US$130,000. The dominance of engineering majors is very strong. As many as 11 of the 15 highest-paying majors belong to the STEM (Science, Technology, Engineering, and Mathematics) group, indicating a high wage premium for workers with technical skills. Besides engineering majors, Economics, Finance, and Business Analytics are also on the list of high-paying majors, with median salaries of US$115,000, US$112,000, and US$109,000 per year, respectively. Conversely, a number of education majors are in the lowest group, with median salaries of only around US$52,000-62,000 per year. According to the Federal Reserve, the choice of major is one of the important factors influencing long-term income prospects. Majors that offer technical skills tend to be paid more because the number of workers meeting the qualifications is still limited. However, income is not solely determined by one’s university major. The industry in which one works, location, work experience, internships, professional networks, and certifications also play a large role in determining salary levels. For students who continue to postgraduate level, their undergraduate major is also not the only determinant. Professional degrees in law, medicine, business, or technical expertise can significantly change career prospects and income levels. Although salary is an important consideration, researchers remind that choosing a major also needs to consider personal interest, job satisfaction, work-life balance, and career flexibility.