STEM Majors vs Liberal Arts: Making Financial Sense of Your Major
This article was written by Olu Sanya, Executive Director of Success Prep.
If you’re considering a major, there is an increased need for STEM majors in the United States. More students are opting for liberal arts degrees, however there is less demand and lower salaries in those career paths. STEM majors, on the other hand, are finding employment much faster. Many companies across the country are unable to fill jobs because of the lack of STEM majors. In the United States just 5.6% of college students are STEM majors, but a career in science, math or technology could provide unlimited potential.
STEM majors far out-earn liberal arts majors, on average. It’s typical for STEM majors to earn as high as $100,000 after graduating, while liberal arts majors typically need to attend grad school. That builds further debt and after graduating liberal arts majors only make an average of $30,000. While you can’t put a dollar amount on finding a career that will provide you happiness, being able to earn a salary and pay back student loans will go a long way in providing a strong future and stability.
The job market for STEM majors is also another benefit to the career path. While the unemployment rate was 7.3% in August, there is actually a shortage of workers needed in the science, technology, engineering and math fields in America. The Partnership for a New American Economy based in New York reports a shortfall of 230,000 STEM majors by 2018.
This gives STEM majors an advantage in the job market. A study by NPR reports that it can take 6-12 months for liberal arts majors to find a job in their field. The reality is that is an average, and it could take a number of years of working menial jobs before landing a job in a liberal arts major’s chosen career.
STEM majors, on the other hand are typically offered employment right out of college. Some STEM majors find that they will be offered full time employment through a college internship, meaning STEM majors are ready to start their career immediately after walking off campus.
SuccessPrep can help STEM majors prepare for their future now with a line of test preparation and tutoring in the Atlanta area. For more information please visit our contact page to fill out our form.