Five of the Worst Degrees to Earn If You Want to Make a Lot of Money 1.Degree to Avoid #1: Bachelors in Psychology Median Annual Earnings for Recent Grads: $30,000** If the workings of the human mind interest you, you might be considering a degree in psychology. Just dont expect to be raking in the dough right away. Low-Pay Factors: Simply put, Sutton Fell says psychology is one of the most popular majors out there, so the supply of graduates is pretty huge, but the demand from employers is less so. Essentially, a surplus of grads for few jobs drives salaries down and competition up. AnnMarie McIlwain, CEO of CareerFuel.net, a destination site for job seekers and entrepreneurs, says high-paying positions in psychology typically require at least a masters degree, so recent grads typically wont qualify. Degree to Consider #1: Finance 2. Degree to Avoid #2:Bachelors in Social Work Median Annual Earnings for Recent Grads: $29,000** Helping people is your M.O. So maybe youre drawn to a degree program like social work. But you probably wont see your skill in handling all the emotional ups and downs of this field reflected in your paycheck. Low-Pay Factors: The human services industry tends to pay less across the board, including social work and counseling, says Sutton Fell. Its definitely something that people should be drawn to because theyre interested in helping others, not because theyre looking for a big paycheck, she says, because often jobs are on the state level and susceptible to program downsizing and budget cuts. As with many of these degrees, the need for further education is an issue when it comes to social work. There are higher paying venues within the field, according to Gail McMeekin, the Massachusetts-based career counselor and author of the best-selling book The 12 Secrets of Highly Creative Women, but often the higher earning positions require a graduate degree. Degree to Consider #2:Computer Science 3.Degree to Avoid #3:Bachelors in Film, Video and Photographic Arts Median Annual Earnings for Recent Grads: $30,000** Are you a confirmed film or photography buff? You might enjoy a film studies or photography degree. However, once you graduate, you may have to shoot a lot of film waiting for any money to come in. Low-Pay Factors: Sutton Fell attributes the low pay of film and video degree holders to the dearth of opportunities. Very few people get those Hollywood blockbuster, money-making producer and director gigs and instead wind up on smaller budget productions, if they can even find steady work. There are limited opportunities for people to reach the top of this career field, so while the potential to make big bucks is there, its an extremely competitive field, she says. Degree To Consider #3:Accounting 4. Degree to Avoid #4:Bachelors in Philosophy and Religious Studies Median Annual Earnings for Recent Grads: $29,000** If truly understanding the logic behind phrases like I think, therefore I am sounds like your cup of tea, then philosophy and religious studies may seem like the ultimate subject for you to study. But after you graduate, you might feel like you wasted your time when you see what the job market looks like for these grads. Low-Pay Factors: According to McMeekin, right now theres an increased interest in this culture about spiritual issues, but to actually get a philosophy teaching job you need further education than just a bachelors. So whatever position youd be able to get with a bachelors, she says, is going to be low-level and likely low-paying. Degree to Consider #4:Mechanical Engineering 5.Degree to Avoid #5:Fine Arts Median Annual Earnings for Recent Grads: $29,000** Always been the artsy type and feel like you express your ideas best through painting, sculpting, or another artistic medium? Spending your class time indulging your artistic side sounds fun, but it may not be too much fun after you graduate when you see your first paycheck. Low-Pay Factors: Everybody in the arts seems to be searching for that big break, but few get it, says McMeekin, who explains the only way you can make a lot of money with a bachelor of fine arts degree is by marketing your work continuously and learning business skills, which arent always taught as part of your degree coursework. Or youd have to hire an agent or manager, she says, which will cut into your earnings and decrease your year-end take home pay. Degree to Consider #5:Nursing 6. Degree to Avoid #6:Journalism Median Annual Earnings for Recent Grads: $32,000** Maybe youve been told you have a way with the written word. But if you think an education in journalism will help you write your way to a great salary out of college, you may be in for a surprise. Low-Pay Factors: For McMeekin, traditional media like newspapers and news shows are fading in popularity, which is causing jobs to disappear and salaries to drop. For those who still want to get into the field, she advises students to get work experience in online media to be successful and follow the new trends for how and where people get their information. Degree To Consider #6:Information Systems STUDY ABROAD!! Studying abroad is a life changing decision. Use our education admissions advisory with a proven track record of acceptances to the worlds top education programs. 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Posted on: Fri, 18 Jul 2014 03:49:13 +0000
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