New Bankrate research shows that Actuarial Science is “the most valuable” major you can study in college out of 162 total, with a whopping average income of $108,658 to go along with an unemployment rate of only 2.3%.
Wondering how the site arrived at these results? The methodology was multi-layered, but the company evaluated the latest information featured in the U.S. Census Bureau American Community Survey, among other points. The majors had “labor forces of at least 15,000 people,” and the number of grads with “a higher degree” was also considered.
Here are the majors that came in the top and bottom slots:
These college majors are “the most valuable”
There are a lot of hard sciences here — take a look:
1) Actuarial Science: average income of $108,658; unemployment rate of 2.3%
2) Zoology: average income of $111,889; unemployment rate of 1.4%
3) Nuclear Engineering: average income of $108,591; unemployment rate of 1.8%
4) Health & Medical Preparatory Programs: $130,308; unemployment rate of 2.3%
5) Applied Mathematics: $105,679; unemployment rate of 2%
Taking a closer look at the top-rated major on the list, Bankrate provided these examples of positions under the Actuarial Science umbrella: Budget analyst, Statistician and Cost estimator.
These college majors are the “least valuable”
The average income and unemployment rate levels are a lot lower– check it out:
158) Visual & Performing Arts: average income of $43,996; unemployment rate of 4%
159) Cosmetology & Culinary Arts: average income of $42,362; unemployment rate of 4.7%
160) Clinical Psychology: average income of $51,022; unemployment rate of 4.8%
161) Composition & Speech: average income of $44,211; unemployment rate of 4.9%
162) Miscellaneous Fine Arts: average income of $40,855; unemployment rate of 9.1%
Bankrate gave these examples of positions in the Miscellaneous Fine Arts category: Art teacher, Music contractor and Costume Attendant.
Did your college major appear on either of these rankings? If not, check out the full list here, where you can see each degree, plus each one’s field, weighted average income, unemployment rate, percentage of people with a “higher degree,” score and rank.
Via The Ladders