5 of the Most Useful College Degrees of 2014

Erika Rawes
December 20, 2014

These days, college students are tasked not only with finding an educational path they will enjoy,
but also finding one thats practical one that will lead to success in the job market. About
fifteen years ago (in 1998), the unemployment rate among bachelors degree holders was
only 1.9 percent.
Back then, it was a fairly commonly held belief that if you obtained a college degree, you would
more than likely be successful. Although most people still think education helps you on the path
to success, some people have started to wonder whether or not the benefits of a college degree
outweigh the costs. Pew Research recently addressed this topic. The think-tank found that on
virtually every measure of economic well-being and career attainmentfrom personal earnings
to job satisfaction to the share employed full timeyoung college graduates are outperforming
their peers with less education. So, getting a degree is better than not getting a degree all
things considered. But, then, theres still the million-dollar question: What is the best degree to
go after?
Data published by the University of La Verne indicates that 50 to 70 percent of college students
change their major at least once, and some, well, they change majors two, three, or even four
times before deciding on a course of study they really enjoy. The key is finding the most useful
degree for you the degree that will not only help you get a job, but one that will help on you a
variety of career paths. On the same token, its ideal to find something in-demand, so people with
your degree are not dime a dozen.
Using Labor Statistics data on the fastest growing occupations, coupled with information from
Payscales College Major ROI report and a study performed by NBC, we determined a list of
useful college majors to provide a few ideas. Some of these degree options dont necessarily
guarantee the most money, but they do provide a solid foundation, decent career prospects, and a
bit of variety.
1. Computer Sciences
Computer science and technology remains one of the most useful, in-demand fields of study.
With technology changing constantly, there continues to be a need for people who can develop
the tools and new methods to foster such change.
Many of the career fields associated with computer science degrees, like computer systems
analysts and software developers are expected to grow much faster than average occupations
over the next eight years. Additionally, the return on investment for computer science degrees is
close to 15 percent at some schools, and 28 percent of employers say a computer science degree
is among the most in-demand fields of study.
This field of study also offers a variety of certification options after graduation. IT certifications
generally come with a low cost, yet they help a great deal with career advancement.

2. Health and Related Clinical Services

As far as we know, as long as there are sick people, there will always be a need for health care
professionals and, more than likely, the workers who assist them as well. A number of jobs on the
Bureau of Labor Statistics list of the fastest growing occupations are in this or a similar field. A
few examples of such occupations are occupational therapy assistants (median annual salary of
$53,240), physical therapists (median salary of $79,860), physical therapists assistants (median
salary of $52,160), genetic counselors (median salary of $56,800), and medical secretaries
(median salary of $31,350).
Fourteen percent of employers say health and related services is among the most in-demand
fields of study and when it comes to a return on your investment, you could be looking at a
return as high as 12 percent annually.
3. Economics
An economics degree offers versatility. With an economics degree, you can work in an office
environment, lean more toward the financial world, work in management, or you could even
move over to the field of law. With a career as a financial analyst, for instance, you have a stable
job outlook and a median annual salary of around $77,000.
With an annual return on investment as high as 14 percent, economics degree holders generally
get their money back on their educational investment fairly quickly.
Majors That Pay You Back

4. Engineering
Engineering is a broad field, offering a wide variety of career options. While many engineering
grads go into fields like electrical or mechanical engineering, some become entrepreneurs, and
some enter fields like marketing, banking, or consulting.
The chart above is from Payscale. It displays the top ten best-paying undergraduate majors, and
six out of ten of the majors on the top ten list are in engineering disciplines. Also, 18 percent of
employers name engineering as one of the most in-demand college degrees.
5. Math and Statistics
Math and statistics majors go into careers ranging from education to sports to the financial field.
This degree could eventually lead you to working on census data, or you could end up
calculating the probability that a new football draft pick is going to perform well.
Statistics was named No. 10 on Payscales top ten majors that pay you back, and 18 percent of
employers agree that math and statistics are among the most in-demand college degrees.