The Top 10 Highest Paying Jobs In The USA Based On University Degree

Your college major can make the difference between struggling with student debt and a future of financial stability.

What are the highest-paying college degrees, and how do they fare in terms of average salaries and lifetime earnings?

The typical lifetime earnings of a college graduate is $1.49 million according to the Brookings Institution, but with the right college major, you can earn four to five times higher. 

I’ve compiled data from the United States Bureau of Labor and Statistics (BLS), the Federal Reserve Bank of New York, Center on Education and the Workforce (CEW) at Georgetown University, and the Brookings Institution to rank the top-paying majors and compare their salary potential and lifetime earnings.

But if you’re short on time, here are the highlights:

And that’s just as far as starting salaries go. As your experience levels up, your earnings can skyrocket and open doors to success.

How I Ranked These Majors

To put things in perspective, the average starting salary in the US is $59,428 according to Forbes, but this list features college degrees whose graduates earn significantly more.

These rankings primarily focus on starting salaries as a key factor but still present multiple data points such as average salaries, lifetime earnings, and demand in the job market.

Lifetime earnings are pulled from the Brookings Institute’s report on Career Earnings by College Major and adjusted for inflation using the latest US government Consumer Price Index data.

The data on top companies for each field are from aggregators such as Glassdoor and Indeed, which publish salary ranges based on past and present job advertisements and real-world data submitted by employees.

Careers that typically require a doctorate or professional degrees, such as those in the medical field, are excluded from this list.

Here are the top 10 high-paying college degrees in the United States:

1. Computer Engineering

Students who graduate with a degree in computer engineering make over 4x more than the average college graduate throughout their careers, with potential lifetime earnings of $6.3 million.

A degree in this field can set you up for success at tech companies such as Meta, Intel, Google, and more.

What’s more: The IT sector is projected to have 73% of all departments with remote workers by 2028. That means more flexibility for you, or the opportunity to travel the world while having a full time job. (Workcation, anyone?)

Based on over 1,780 salaries, Glassdoor reports a salary range of $91,000 to $151,000 for computer engineers in the US.

On the other hand, the Federal Reserve Bank of New York reports a median salary of $80,000 for early-career engineers, while the BLS states that computer engineers can expect salaries ranging from $81,630 to $212,770.

Across all levels of experience, computer engineers earn about $131,370 annually on average.

Top companies hiring computer engineering graduates

Here are the top hiring companies for computer engineering graduates and the annual salary ranges you can expect:

• Meta: $200K - $331K

• Intel: $131K- $181K

• Google: $118K - $181K

• NVIDIA: $99K to $213K

• Microsoft: $126K - $167K

2. Aerospace Engineering

Students who graduate with a degree in aerospace engineering can land roles at NASA, SpaceX, or other top companies in the aerospace product and parts manufacturing industries, and make over $6.12 million over their lifetime.

Early-career aerospace engineers kick off with a robust median wage of $74,000, but the range can go from $81,620 to $188,910.

On average, aerospace engineers pull in $127,460 annually.

Top companies hiring aerospace engineering graduates

Here are the top hiring companies for aerospace engineers and the annual salary ranges you can expect:

• NASA: $112K - $157K

• SpaceX: $104K - $171K

• Boeing: $99K - $150K

• Lockheed Martin: $99K - $148K

• Northrop Grumman:  $93K - $137K

Demand for aerospace engineers also soars higher than average compared to other occupations, with a projected 6% growth until 2032 according to BLS.

3. Computer Science

Here are examples of lucrative roles that computer science graduates can pursue and their average salaries:

• Computer and Information Systems Managers: $169,510 

• Database Administrators and Architects: $117,450

• Information Security Analysts: $120,360 

• Computer and Information Research Scientists: $145,080 

• Software Developers: $132,270

• Computer Network Architects: $129,840 

• Database Administrators: $101,510 

Early-career computer scientists start with a strong median wage of $78,000. Across all levels and roles, this field offers a salary range from $81,450 to $233,110.

With a degree in computer science, you could potentially earn an impressive $5.6 million throughout your career, which is 3.75x more than the typical college graduate.

Top companies hiring computer science graduates

• Google: $186K - $283K 

• Microsoft: $200K - $302K 

• Apple: $203K - $301K 

• Meta: $208K - $312K 

• Amazon: $141K - $254K 

• US Department of Defense: $59K - $103K 

4. Petroleum Engineering

You can say that a degree in petroleum engineering can give you a well-oiled pipeline of lucrative career opportunities.

Glassdoor lists a salary range of $145,000 to $246,000 based on more than 1,000 salaries submitted by petroleum engineers in the US.

While Glassdoor  offers a more granular view of salary ranges which vary according to experience, location, and employer, starting salaries  are still attractive.

The US Bureau of Labor and Statistics reports that entry-level petroleum engineers can make around $77,340 while top earners in the field can reach salaries as high as $225,920.

The median wage reported by the BLS is $135,690, which is a good indicator of typical pay across all experience levels.

A degree in petroleum engineering opens doors to roles at top oil and gas companies like ExxonMobil, Chevron, and BP.

Top companies hiring petroleum engineering graduates

Here are the leading organizations for petroleum engineering graduates and the annual salary ranges you can expect, based on data submitted by employees at aggregators such as Glassdoor and Indeed:

• Chevron: $145K - $227K 

• BP: $139K - $217K 

• ExxonMobil: $129K - $200K 

• Halliburton: $128K - $205K

• Shell: $120K - $190K 

Interestingly, competition in this field is also declining despite faster-than-average growth in the number of jobs in this field. Wall Street reports that while acoss all experience levels petroleum engineering graduates make 40% more than computer engineering graduates, enrollment is down 75% since 2014.

And it’s not difficult to land a job after graduation. In Texas A&M university, for example, 80% of petroleum engineering students graduate with jobs lined up for them or within two to three months of graduation.

5. Chemical Engineering

With a salary range from $75,650 to $176,420 annually, students who graduate with a degree in chemical engineering can earn up to $7.18 million over their careers. That's almost quintuple the average!

This field is a promising choice for students seeking both financial stability and professional growth, with 8% projected job growth until 2032.

Career starters can expect a median wage of $79,000, but students who graduate with a degree in chemical engineering can  command even more competitive salaries at leading companies such as Honeywell, Dupont, and Dow Chemical.

Top companies hiring chemical engineering graduates

• DuPont: $102K - $147K 

• Dow Chemical: $97K - $141K 

• BASF: $95K - $139K 

• Honeywell: $92K - $143K

• Eastman: $81K–$117K 

6. Actuarial Science

A degree in actuarial science can set the stage for a successful career as an actuary, which commands a salary range of $75,380 to $209,310 according to the BLS.

At leading firms like Milliman, the range is even higher with actuaries earning up to $262,000 annually.

The average salary for actuaries is $173,211 yearly, with a median salary of $120,000.

Your potential lifetime earnings? Still over 400% more than the average at $6.2 million. 

Top companies hiring actuarial science graduates

Here are the top hiring companies for actuaries and the annual salary ranges you can expect:

• Milliman: $156K - $262K 

• Aon: $124K - $187K

• Deloitte: $94K - $141K 

• Mercer: $84K - $116K 

• Willis Towers Watson: $80K - $111K 

7. Finance

Graduates with a degree in finance can pursue various roles with significantly higher-than average yearly earnings, including:

• Corporate Financial Analyst: $96,220

• Investment Banking Analyst: $95,080

• Personal Financial Planner or Advisor: $95,390

• Financial Examiner: $82,210

• Financial Analyst (Commercial Banking / Insurance): $70,000

A finance degree offers a potential lifetime earning of $9.62 million, the highest among the undergraduate degrees in this list. Graduates in this field can pursue high-paying careers at some of the largest banks in the US and globally, including Goldman Sachs, Morgan Stanley, and JPMorgan Chase.

Glassdoor lists a salary range of $70K to $124K for finance graduates, while the Federal Reserve of New York reports median wages for early to mid-career professionals of $66,000 to $104,000.

Top hiring companies for graduates in finance

Here are the top companies hiring finance graduates and the average salaries for financial analysts, which is one of the roles you can land with a degree in finance.

• Goldman Sachs: $83K–$133K

• Morgan Stanley: $107K - $193K

• JPMorgan Chase: $104K–$189K

• Bank of America: $78K–$116K

• Citigroup: $85K–$134K

The U.S. Bureau of Labor Statistics projects nearly a million job openings annually in business and finance through 2032.

8. Electrical Engineering

Students who graduate with a degree in electrical engineering can charge up  their earning potential up to $6.1 million throughout their career, with salaries ranging from $69,320 to $172,050 annually according to BLS. 

The Federal Reserve Bank of New York reports a higher median salary for early-career professionals, with early-career electrical engineers earning a median of $72,000.

Top companies hiring electrical engineering graduates

• Tesla: $125K–$175K

• Boeing: $86K–$115K

• Northrop Grumman: $87,200 - $130,800 

• Space X: $139K–$216K

• Skyworks Solutions: $135K–$206K

9. Industrial Engineering

A degree in industrial engineering offers a promising career path with a reported lifetime earning potential of $6.5 million.

Even starting salaries are impressive, with the Federal Reserve Bank of New York listing a median of $70,000 for early-career engineers.

On the other hand, BLS reports that you can expect a salary range of $65,320 to $142,220, with a median of $99,380.

Top companies hiring industrial engineering graduates

• General Motors: $84K–$122K

• Walmart: $79K–$124K

• UPS: $93K–$133K

• Amazon: $97K - $155K

• Boeing: $86K–$120K

10. Mechanical Engineering

Early career mechanical engineers start with a median wage of $70,000. With a degree in mechanical engineering, you can build a solid foundation in architectural and engineering firms, machinery manufacturing, transportation equipment manufacturing, and scientific research.

Professionals in this field can expect a salary range from $64,560 to $157,470, with a median wage of $99,510 and an average salary of $105,426.

Your lifetime earning potential? $6.47 million.

Top companies hiring mechanical engineering graduates

• Boeing: $76K–$108K

• GE: $100K

• Lockheed Martin: $97K - $104K

• Ford: $90K–$107K

• Tesla: $76K–$84K

Conclusion: Is College Worth It?

With the average college graduate accumulating around $37,000 in debt and taking 20 years to pay according to the Education Data Initiative, it’s normal to feel hesitant to pursue higher education.

On the other hand, study after study has shown that the higher your educational attainment, the higher your income. College graduates earn 86% more than those with only a high school diploma.

It comes with other perks, too, like lower unemployment rates, networking opportunities, and credentials.

Ultimately, the best decision for you will depend on your individual circumstances. By selecting the right major and considering factors such as earning potential and your aspirations, you can maximize your return on investment, making sure higher education for you is both rewarding and worthwhile.

Frequently asked questions

What is the highest-paying college degree?

Computer engineering boasts a starting salary of $81,630 according to the US Bureau of Labor and Statistics. Engineering degrees constitute most of the highest-paying college degrees, with graduates making between $64,000 and $80,000 immediately after graduation. 

What is the starting salary for college graduates?

The average starting salary in the US is $59,428 according to Forbes. 

How much do college graduates earn throughout their lifetime?

The average college graduate earns $1.49 million throughout their lifetime, though some college majors such as a degree in engineering set you up to earn up to four to five times higher.

References:

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Brookings Institution Hamilton Project. (2018). Career earnings by college major. https://www.brookings.edu/articles/compare-lifetime-earnings-by-college-major-with-new-hamilton-project-interactive/

Data USA. (2024). Petroleum Engineering. https://datausa.io/profile/cip/petroleum-engineering-142501 

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Forbes. (2024, February 27). 5 Careers In Electrical Engineering To Consider – Forbes Advisor. https://www.forbes.com/advisor/education/engineering/electrical-engineering-careers/ 

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Oregon State University. (n.d.). What Do Industrial Engineers Do? https://engineering.oregonstate.edu/MIME/academics/what-do-industrial-engineers-do 

Southern New Hampshire University. (2024, June 17). What Can You Do With a Computer Science Degree? https://www.timeshighereducation.com/student/subjects/what-can-you-do-electrical-engineering-degree 

Times Higher Education. (2022, September 29). What can you do with an electrical engineering degree? https://www.timeshighereducation.com/student/subjects/what-can-you-do-electrical-engineering-degree 

U.S. Bureau of Labor Statistics. (2023). Occupational Outlook Handbook. https://www.bls.gov/ooh/home.htm 

US News & World Report. (2021). What electrical engineers do and how to become one. https://www.usnews.com/education/best-graduate-schools/top-engineering-schools/articles/what-electrical-engineers-do-and-how-to-become-one 

Rivera, G. (2023, August 10). US Petroleum Engineering Graduation Rates Keep Falling, but Oil Execs Are Not Complaining Yet. Business Insider. https://www.businessinsider.com/undergrads-enrollment-petroleum-engineering-drops-despite-high-salary-2023-8