Who not to study for: 6 specialties whose owners earn the least - ForumDaily
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Who should not study: 6 specialties whose owners earn the least

According to an analysis by the New York Federal Reserve, there are six college majors after which the average graduate salary is less than $40 for about five years after graduation, reports Insider.

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Analysis, published in February, took into account the earnings of recent college graduates and labor market research according to their specialty.

The New York Federal Reserve analyzed the average salary of graduates in 2021. The data only includes wages for full-time employees with a bachelor's degree and excludes those who are currently in school. The analysis detailed two types of wages: early career, which refers to graduates aged 22 to 27, and mid-career, which refers to graduates aged 35 to 45.

The New York Federal Reserve found that the six lowest paid majors were in the social sciences and humanities. By comparison, the highest paying majors were in STEM industries, which include careers in science, technology, engineering, and mathematics. Notably, chemical engineers ranked first when it came to high pay, with an average salary of $75 five years after graduation.

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Underemployment, defined in the report as working in jobs that do not normally require a college degree, and unemployment rates for each occupation are also common.

6. Performing arts

  • Average salary at the beginning of a career: $39.
  • Unemployment rate: 7,6%.
  • Underemployment rate: 64%.

In 2021, people who specialize in the performing arts earned an average salary of $62 as a mid-level worker, according to the New York Federal Reserve.

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About 2019 million performing arts graduates were employed in 2,6, according to the US Bureau of Labor Statistics. Musicians or singers do not often require higher education. Performing Arts graduates work in industries such as art, design, and media.

5. Tourism and hospitality

  • Average salary at the beginning of a career: $ 38 000.
  • Unemployment rate: 5,3%.
  • Underemployment rate: 58,6%

Tourism and hospitality graduates can expect to earn $60 midway through their careers, according to the New York Federal Reserve.

Graduates in the tourism and hospitality industry typically work in the food and beverage, tourism, and hotel industries. According to the US Bureau of Labor Statistics, about 14 million people were employed in the tourism and hospitality industry. The BLS estimates that this number will rise to 2031 million by 16.

4. Psychology

  • Average salary at the beginning of a career: $ 37 400.
  • Unemployment rate: 4,7%.
  • Underemployment rate: 47,6%.

Psychology graduates can expect to earn $65 in mid-career, according to the New York Federal Reserve.

About 2019 million psychology graduates were employed in 3,1, according to the US Bureau of Labor Statistics. Graduates of psychology departments usually work in leadership positions, in public and social services.

According to Niche, a college information site, psychology was the third most popular major among high school graduates in 2022.

3. Social services

  • Average salary at the beginning of a career: $ 37 000.
  • Unemployment rate: 3%.
  • Underemployment rate: 27,7%.

According to the New York Federal Reserve, social service graduates earn $52 in their mid-career.

About 2019 human service graduates were employed in 891, according to the U.S. Bureau of Labor Statistics — a figure that also includes public policy graduates. According to the BLS, the majority of social service graduates work in the social field.

2. Study of families and consumerism

  • Average salary at the beginning of a career: $ 37 000.
  • Unemployment rate: 8,9%.
  • Underemployment rate: 47,9%.

Family and consumer science graduates earn $60 mid-career, according to the New York Federal Reserve.

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According to the US Bureau of Labor Statistics, about 2019 graduates of this specialty were employed in 480. Graduates typically work in industries such as education, management, and administration.

1. Theology and religion

  • Average salary at the beginning of a career: $ 36 000.
  • Unemployment rate: 3,6%.
  • Underemployment rate: 35,5%.

According to the New York Federal Reserve, mid-career theology and religion graduates earn an average of $52 a year.

About 2019 theology graduates were employed in 387, according to the U.S. Bureau of Labor Statistics. Theological graduates often work in public and social services.

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