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Wednesday, May 25, 2016

Here's Exactly How Much You Can Make with Your College Degree


While doing market research the other day (and by that, I mean browsing the internet), I came across a certain Ricky Montgomery, or @rohmontgomery, who had tweeted this very important thought:

"I am upset with my parents for making me exist. u just decided to make a person one day? who's gonna pay my bills? me? I didn't ask for this."

Unfortunately, I think we can all sympathize with him. After all, one of the most disappointing things about growing up is realizing that being a person is expensive.

What's even worse is that the cost of personhood skyrockets if you want to be a college educated person. Specifically, according to a recent article from Forbes, the national average price of a four year public college is over $28,000 per year, while the cost of a four year private college is now over $59,000 per year. And if you think that's a lot, the article projects that the cost of attending an elite college from 2018-2021 could be as high as $334,000 for a four year degree.

So that's fun.

While not everyone's goal is to get a college degree, a Georgetown University study predicts that by 2020, 35% of job openings will require at least a bachelor’s degree, and 30% of job openings will require some college or an associate’s degree. So it's sort of like when your mom tells you to do something "or else"—technically you're allowed to pick the "or else," but you'll probably be better off not.

So given the price (and importance) of a college education, choosing a major is not exactly a trivial decision. 

Now, if you're like me, you chose your college major based solely on which class you found most interesting. Which makes sense for an 18 year old who has never worried about things like rent or an electric bill. But if I had to do it over, I definitely would have considered the practical side of my major as well—how difficult will it be to get a job with my degree? And how much will that job pay? Will I need to get an advanced degree?

Maybe I was immature at 18, or maybe I just didn't have enough experience with "real life" to understand how important these questions would become. Either way, I know that I might do things differently if I was making that decision—that incredibly expensive and important decision—now instead of as an 18 year old. (And I'm sure I'm not alone.)

What would I major in knowing what I know now? I wish I knew how to program. I also wish I knew more about marketing. (I think Tami's job sounds awesome.) At very least, I would have considered information like the data in this cool graph I found from PayScale.






All in all, the route I've taken so far in personhood is working out pretty well. But I also believe that much different routes (for example, routes that don't include college immediately after high school) could have been just as wise.

Because who knows? Maybe that route would have led me to this blog post, and you'd be looking at the world's leading Petroleum Engineer.


Did you go to college immediately after high school? Are you happy with your major, or do you wish you could do things over?