In the past, a college degree all but assured job seekers employment and high earnings, but today, what you make depends on what you take. In Hard Times 2013, we show differences in unemployment and earnings based on major for BA and graduate degree holders. We show that STEM — Science, Technology, Engineering, and Mathematics — majors typically offer the best opportunities for employment and earnings, while unemployment is higher for graduates with non-technical degrees.

1. Hard Times:
College Majors, Unemployment and Earnings
Anthony P. Carnevale and Ban Cheah
May 29, 2013

2. Overview
• It pays to have a college degree, but not all degrees
lead to the same earnings and employment levels.
• College graduates with work experience have a better
chance of finding employment.
• Non-technical majors tend to have higher rates of
unemployment.

3. Unemployment
• Overall unemployment rates for college graduates in 2010
with work experience hover around 4.6 to 4.7 percent.
• The overall unemployment rate for recent college
graduates in 2010 is higher at 7.9 percent.

4. Lowest Unemployment by Major
• Unemployment rates decrease as graduates gain
experience.
• The majors with the lowest unemployment are:
– Nursing 4.8%
– Elementary Education 5%
– Physical Fitness, Parks & Recreation 5.2%
– Chemistry 5.8%
– Finance 5.9%

5. Highest Unemployment by Major
• The majors with the highest unemployment rate are:
– Political Science 11.1%
– Film, Video & Photography Arts 11.4%
– Anthropology 12.6%
– Architecture 12.8%
– Information Systems 14.7%

6. Earnings
• Earnings increase in all majors as graduates gain
experience.

7. Highest Paying Majors
• Median earnings among recent college graduates
range from $54,000 for engineering majors to
$30,000 for arts, psychology and social work, and life
and physical sciences.
• The highest paying majors continue to be in
engineering.

8. Stable and Growing Occupations
• Recent college graduates in engineering can
expect comparatively low unemployment rates,
from around 7.0 to 8.1 percent.
• Recent engineering graduates can expect
anywhere around $51,000 per year to $57,000
per year.
• An engineering graduate degree holder can
expect around $95,000 to $109,000, and
unemployment ranges from 2.3 to 3.1 percent.

9. Conclusion
• Attending college is the best option for finding
employment opportunities.The more advanced your
degree, the more likely you are to earn more.
• Not all college degrees are created equally, and what
major you take matters the most.

10. For more information:
See the full report at: cew.georgetown.edu/HardTimes2013
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