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For many students, choosing a major is a difficult decision.
Ted Turner, founder of the television networks TBS and CNN, is widely regarded as a success story in the American economy. After he decided to major in Classics, he received this letter from his father: “I am appalled, even horrified, that you chose Classics as your major. In fact, I almost puked on the way home today.”
Was Turner's father, a practical man, right to reprimand his son for choosing an impractical course of study? Or is it better to determine your major based on your interests, regardless of earning potential?
Below we compare both options to show their advantages and disadvantages. We'll also briefly discuss a third option: simply choose an easy major for the easiest path to earning a degree. Read on to see all of our top tips for choosing a major.
1. Select a higher education course based on employability
In the field of personal finance, it is common to advise students to choose a major based on income potential. According to this philosophy, good courses are considered to have high earning potential and poor courses are considered to have low earning potential.
A recent study by PayScale found that the top five majors that earn high salaries include:
- Petroleum engineering
- Electrical engineering and computer science
- Applied Economics and Management
- Business research
- Public Accounting
These majors are associated with above-average pay early in a graduate's career and pay annual income in excess of $100,000 mid-career.
If your primary goal in college is to achieve a high return on investment, one of the “top college majors” could be an excellent choice. However, this advice ignores two important factors.
Can you be successful in a related career field?
In general, the top degree programs are dominated by engineering, nursing and “business-related” degrees. Some of the top majors are more than just degrees—they are prerequisites for specific careers (e.g., careers in engineering, accounting, actuarial science, and nursing).
These careers can be high paying. But they can also be strict or have high burnout rates. If working on an oil rig doesn't appeal to you, petroleum engineering is probably not a good choice.
Employers may not care about your major
If you want to become an engineer, accountant or nurse, you will need specific qualifications. But not every job has such precise requirements.
Java developers must be able to work within specific development frameworks, write unit tests, and develop high-quality code. However, you may not necessarily need a computer science degree. They may be able to learn the skills they need at a coding bootcamp or during an internship.
A study released by the New York Federal Reserve Bank in 2013 found that only 27.3% of employees worked in fields where there was a “college major match.” This means that almost three quarters of the people were employed in areas outside the industry. Throughout your career, coursework is typically less important than experience.
That doesn't mean employers don't care about degree programs. Employers will hire them based on their attitude. But they usually don't exclude someone who studies biology instead of business.
2. Choose a college major based on what you love
Ramit Sethi, author of “I Will Teach You To Be Rich,” once said, “I never thought of my university education as a technical education. If so, then why shouldn't I just go to ITT Tech?” He often praises his time at Stanford as an important time in which he learned, grew, and challenged himself despite his impractical major.
People in Sethi's camp often advise students to choose a major in what they love, or at least choose a major based on their interests. In some cases this advice might work. Learning about big-picture thinking or honing specific skills can be valuable.
But in other cases, it could result in a student attending an expensive college with low-paying job prospects (e.g., a culinary arts degree from an expensive private university). Overall, there are a few moments when I think the interest-based approach in school can be very useful.
You know what you want to study
College is a short time in which you can learn almost anything. If you're interested in the humanities, paleontology, or fine arts, this is the time to do it. Just be careful not to take on too much debt while you're in college.
You know you need further training
If you need to get a law, medical, or graduate degree to get a job in your field, your undergraduate major isn't as important. Make sure that you have the requirements for your future school education. However, you may want to choose a major based on your interests rather than the “prescribed” routes.
You want to double your major
Some students (particularly those entering their first year of college with many credits) have the bandwidth to pursue dual majors. If you have this kind of range, it might be worth combining music or visual arts with business or computer science.
They hope to stay in academia
A professorship is not always lucrative. However, if you want to stay in academia, make sure you love your field. Becoming an academic requires many years of study and often requires low-paying college jobs. However, the only way to become a professor of archeology is to obtain a relevant doctorate.
3. Choose an easy college major
It's becoming increasingly popular to call college an expensive piece of paper, but regret that it's required for almost all jobs. People who have this attitude toward college often advise choosing an easy major and completing your degree as quickly and cheaply as possible.
This view makes me sad, but it is not unfounded. Only about 62% of students pursuing a bachelor's degree complete their degree within six years. Students can invest a lot of time and money in their college education only to fail to obtain a bachelor's degree.
If you're attending college solely for the qualifications, choosing an easy major may be the right choice for you. It can allow you to complete your studies while working full-time or pursuing other aspects of life.
How to Get the Most Out of Your Education (Regardless of Your Major)
Regardless of your major, it is important to consider how your college experience will impact your future income and wealth creation potential. To maximize career opportunities, students must view their education holistically.
Coursework, jobs, internships, and experiences outside of the classroom all influence your future employability. These are some things that can help you maximize the value of your education.
Minimize your debt whenever possible
Student loans can last for decades, especially if you borrow large amounts to finance an expensive school. While you're in college, try to minimize debt by applying for scholarships, working, and cutting costs where possible.
Take courses relevant to a business career
Regardless of your major, you should learn some business basics. Courses such as accounting, marketing, language, and introductory computer science can help you pursue a career in business or technology. New graduates often add relevant coursework to their resumes, especially if their major isn't immediately applicable to specific entry-level jobs.
Invest in your area of study
College is a time for growth and reflection. But this time is more profitable if you fully invest in your studies. If possible, publish articles, research, and attend conferences related to your field. If your school hosts speakers, try joining the welcoming committee so you can talk to interesting people.
Pursue professional experiences
Whether you're majoring in computer science or underwater basket weaving, work experience is important when entering the full-time job market. If possible, complete paid internships in the summer.
But don't forget about the part-time internships you can do during the school year. Many smaller companies and nonprofits are more flexible and allow part-time internships during the school year.
Build communication skills
Communication skills like responding to emails quickly, asking compelling questions, listening attentively, and presenting are incredibly important. You can learn these skills through formalized learning (e.g. a language course or Toastmasters) or informally through work in a company or an internship.
It's also worth reading classic business books like The 7 Habits of Highly Effective People, which can also increase your awareness of your communication style.
Do difficult things while studying
As you study, you must develop confidence in your ability to solve problems and overcome obstacles. The best way to achieve this is to do difficult things where the risk of failure is likely.
Work with a nonprofit organization to help them achieve their goals more efficiently. Start a grassroots initiative to promote art in your city. Volunteer on a political campaign, start a business, or do research in an underfunded lab.
Specific goals matter less than learning to put in effort and solve problems. The confidence you gain from developing these skills will translate into long-term confidence in your career.
Final thoughts
Your college major will likely determine how much you enjoy college, and it can be your ticket to certain careers. So you don't want to decide on a course of study lightly.
However, your major does not determine your professional fate. Whether you choose your major based on your career prospects, passions, or ease, it's less about fully committing to your entire education.
And no matter what major you choose, it's important to think about how you'll pay for it. For a complete breakdown of all your options, check out How To Pay For College: The Best Order of Operations.
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