The following is a guest blog post:
With college tuition fees on the rise, making sure that you choose a degree course with a good return on investment is important. When choosing a subject to major in at college, it’s not only important to consider the various things that you are good at and are passionate about, but you’ll also need to think about which subjects are going to have the most financial benefit for yourself. After all, with the average cost of a private college education at around $120,000 per year, the selection of a college major has far more financial consequences than ever before. We’ve listed some of the best degree majors to choose from if you’re hoping to generate a reasonable return on the amount that you invest in studying.
One of the most in-demand degree courses to have, graduates with a masters in business administration tend to earn more than their colleagues who have a different type of business degree. If you are hoping for a career in business, studying for an MBA can be one of the best ways to get a good ROI with your education, especially with cheaper tuition fees available for online MBA programs such as those available at Northeastern University. Studying for an online MBA degree is one of the best pathways towards a wealth of future highly-paid opportunities in business.
College graduates who are qualified in economics are in high demand from financial institutions and other large corporations in a variety of different industries. A corporate economist can earn an average salary of around $115,671, generating a 55% ROI on a private degree or 182% on a degree from a public school. Getting a degree in economics opens a wide range of opportunities, with those working in investment operations management positions earning an average of $142,921 with a 225% ROI on a degree from a private school.
Graduates with a degree in information technology today enter an industry where they are in high demand. Companies who expect to experience growth and advancement today need to continuously expand their information technology capabilities. With an average salary of around $80,000, web application developers are currently in huge demand, earning a ROI of 126% on a public college degree. Progressing through the ranks to an IT manager would earn you an average salary of around $107,500, generating a ROI of 169%.
In many growing companies, human resources have taken a far more important role. HR graduates usually go on to become the ‘gatekeepers’ of many companies with the main responsibilities of hiring and firing, employee training, employee benefits and perks, and developing company policies in accordance with constantly changing regulations. Human resources managers can earn an average salary of around $90,000, generating a 137% ROI on a degree from a public college. Specializing in HR fields such as compensation and employee benefits can generate an even larger income.
Which degree courses would you consider if you are hoping to generate the largest ROI? We’d love to hear from you in the comments.