Came across a really interesting study by Anthony Carnevale, Jeff Strohl and Michelle Melton of Georgetown University on “The Economic Value of College Majors”. The study found that the choice of your major is more important than the college you attend. A person with a bachelor’s degree will earn on average 84% more than a person with a high school diploma. That equates to over a million dollars over a lifetime. But the highest earning major earns 314% more. That puts it in the $3.4 million dollar range over the average lifespan.
Carnevale in an interview with Reuter’s, explains that the key for college success is knowing who you are , what you’re passionate about and where your abilities lie. And the sooner you figure that out, the more successful you are likely to be.
That might seem pretty obvious, but it confirms why we place such an emphasis on determining those things before you start applying to colleges. Knowing your passion and your ability will help you choose the right major which will lead to choosing the right colleges. It will not only help your success in college, but your success in life.
For those of you who do not want to read the whole study, I have included a link to Carnevale’s interview in Reuters that was reprinted on Inc.com: