Engineering majors lead early-career pay in New York Fed data
New York Fed research shows engineering fields dominate the highest-paying majors five years after graduation, with computer engineering at $90,000.
By Maya Lindqvist · Senior Technology Correspondent
3 min read
Engineering degrees account for most of the highest-paying college majors in the first five years after graduation, according to research from the Federal Reserve Bank of New York. The findings matter for students weighing the cost of college against the earnings they may see soon after entering the labor market.
Educationdata.org estimates the average annual cost of college attendance at $38,270. The New York Fed’s data shows that what students study can be closely tied to early-career pay, with engineering and technology-related fields clustered at the top.
The New York Fed examined labor market outcomes for college graduates by major. In its ranking, eight of the 10 majors with the highest median wages for graduates ages 22 to 27 were engineering fields.
Engineering dominates the top of the list
Computer engineering led the New York Fed’s ranking with median early-career wages of $90,000. Computer science, an engineering-adjacent major, also ranked near the top at $87,000.
Specialized engineering fields generally outpaced broader engineering programs in the data. Chemical engineering and aerospace engineering each posted median early-career wages of $85,000, while industrial engineering came in at $83,000 and electrical engineering at $82,000.
- Computer engineering: $90,000
- Computer science: $87,000
- Chemical engineering: $85,000
- Aerospace engineering: $85,000
- Industrial engineering: $83,000
- Electrical engineering: $82,000
- Mechanical engineering: $80,000
- General engineering: $75,000
- Miscellaneous engineering: $75,000
- Finance: $70,000
Finance was the only major outside engineering and computer science to appear in the top 10, according to the New York Fed. Its median early-career wage was $70,000.
Arts, humanities and education majors trail
The New York Fed data showed much lower early-career wages for several arts, humanities and service-oriented fields. Graduates in liberal arts and humanities-related areas earned far less than those in the top engineering fields.
Among the lowest-paying majors in the New York Fed’s list were pharmacy at $40,000, theology and religion at $41,600, and social services at $43,000. Performing arts was listed at $44,000.
- Pharmacy: $40,000
- Theology and religion: $41,600
- Social services: $43,000
- Performing arts: $44,000
- Anthropology: $45,000
- Art history: $45,000
- Biology: $45,000
- Early childhood education: $45,000
- Elementary education: $45,000
- Fine arts: $45,000
For broader context, Federal Reserve Economic Data lists U.S. personal median income at $45,180. That measure includes people as young as 15 and those without college degrees.
High pay is not guaranteed
The New York Fed figures point to stronger early earnings in engineering, but they do not guarantee individual outcomes. Nvidia cofounder Jensen Huang warned students against assuming that elite credentials or high expectations will carry them through a career.
“People with very high expectations have very low resilience—and unfortunately, resilience matters in success,” Huang said in an interview with the Stanford Graduate School of Business. “One of my great advantages is that I have very low expectations.”
Huang also told Stanford students, “I wish upon you ample doses of pain and suffering,” adding that character is formed through hardship. His comments were offered as career advice, separate from the New York Fed’s wage data.
This story draws on original reporting from Fortune.