Which Degrees are the Best for Compensation for African Americans?
The students who go to college and eventually graduate with degrees in majors such as computer science, industrial and chemical engineer, and pharmaceutical science, are more than likely going to be able to command a very high income over the entire course of their professional career. However, African Americans are not necessarily very well represented when it comes to some of these majors. In fact, they are the least represented group out of all the ethnicities. The bad thing about this is that whatever you major in at college, is actually much more important than anyone would ever believe when it relates to how much more money someone is going to earn over the course of their entire career.
According to a report that was released by The Center of Education and the Workforce from Georgetown University, revealed that the African Americans that do graduate with a degree in some type of manufacturing or industrial engineering, will eventually earn an annual salary of roughly $75,000 in median annual salary over their entire career. However, the thing that you need to keep in mind is that of the 12% of the African American population in the United States, actually only represents about 5% of graduates in that particular major.
The African Americans who graduate with a degree in either Pharmacy or Pharmaceutical Sciences and Administration, will end up earning an annual median salary of about $84,000. However, African Americans only represent about 6% of those who graduate with a degree in this particular field.
On top of that, African Americans were only found to represent about 7% of all the technology, engineering, science, and mathematical majors, which is more commonly referred to as STEM.
With the above-mentioned majors being some of the highest paying without requiring additional schooling, you may be wondering why there are not more African American students in these particular programs. Well, studies have actually revealed that most of the African Americans who do attend college will more than likely major in something that pays a notoriously lower wage.
For example, African Americans represent about 21% of everybody who is majoring in the Health and Medical Administration Services field. This particular degree commands an annual average salary of about $46,000 per year. Another example is Human Services and Community Organization. African Americans represent about 19% of all Social Worker majors, who earn an annual median salary of just $41,000 or less.
With that being said, the highest paid college degrees for African Americans is going to completely depend on the individual person. There is no one major that caters to African Americans more than Spanish Americans or Asian Americans. If you are really looking to make a significant amount of money throughout your professional career, you are going to need to buckle down and actually get a degree in something that deserves to be paid more money. While it may be much harder and take a little longer than you are expecting, it will eventually happen and when it does, it will be the best feeling you have ever felt.