Edward Millner's blog. It contains links to articles for students taking Principles of Microeconomics and Managerial Economics. It also contains links to articles about politics. The opinions here are mine. No one at VCU reviews or approves what I post.
Tuesday, September 10, 2019
Data on Salaries and Employment Rates, by Major
Here is more evidence that economics majors fare well in the job market. Bankrate ranked 162 majors in 2019 based on median income, unemployment rates, and percentage with advanced degrees. The table below contains what they said about economics and some of its competitors. I also include the lowest rated major for comparison.
% with
Median Unem. Advanced
Rank Major Income Rate Degree
23 Finance $75,000 2.9% 29%
33 Information Systems $75,000 3.3% 29%
38 Business Economics $68,000 2.7% 29%
43 Economics $74,000 3.4% 43%
44 Accounting $63,000 2.5% 29%
64 Marketing and $55,000 2.7% 17%
Market Research
67 Business $58,000 3.2% 24%
Management And
Administration
73 International $55,000 2.7% 32%
Business
77 Human Resources $55,000 3.3% 30%
And Personnel
Management
140 Psychology $45,000 3.1% 47%
162 Drama and Theater $35,000 5.2% 26%
Arts
My first piece of advice for choosing a major is, "Find something you love and excel in it". My second piece of advice is, "If you love two subjects, choose the one with better job prospects".
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