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There's no denying the value of a college education: According to recent U.S. Census surveys, the median salary for college grads is more than $20,000 higher than that of people with only a high school diploma. And the unemployment rate for people with bachelor's degrees is almost half the rate for people without.But some degrees are worth more than others, as PayScale.com shows in its 2010 report on the earning power of bachelor's degrees.
No surprise, engineering degrees continue to be top earners--and (also no big shocker) you have to go pretty far down the list before you see the liberal arts well represented.
But there's more to choosing a major than comparing dollar amounts. We salute and congratulate the graduates whose interests (and hard work) have led them to the following degrees--the lowest-earning degrees on PayScale's list.
10. Drama (starting annual salary: $35,600; mid-career annual salary: $56,600)
Some
mega-millionaire movie stars with drama degrees (Denzel Washington and
Meryl Streep, for instance) may be skewing these numbers upward--for
every Denzel and Meryl, there are thousands of thespians struggling to
make ends meet. But you don't study drama because you want to get
rich--you study drama because you love the theater. (And an ability to
act comes in handy in many professions.)
9. Fine arts (starting annual salary: $35,800; mid-career annual salary: $56,300)
Well, it takes an artist to make a thrift-store wardrobe look like a million bucks.
8. Hospitality and tourism (starting annual salary: $37,000; mid-career annual salary: $54,300)
Jobs
that include tips may be skewing these numbers downward--and this is an
industry that looks to be on the rebound as the economy improves. Plus,
the perks associated with jobs in hospitality and tourism
may compensate for the comparatively low salaries--many jobs in the
industry allow extensive travel (or provide considerable travel
discounts).
7. Education (starting annual salary: $36,200; mid-career annual salary: $54,100)
For the right people, teaching
is an immensely rewarding career--and it's truly a noble one. The good
news is, according to the U.S. Bureau of Labor Statistics (BLS), the
employment opportunities for primary, secondary, and special education
teachers are expected to grow by 14 percent in the coming decade. And
there will be plenty of new opportunities in continuing education for
adults, as professional skill requirements change ever more rapidly.
6. Horticulture (starting annual salary: $37,200; mid-career annual salary: $53,400)
It
seems that a green thumb doesn't necessarily bring in the greenbacks.
But when you work among flowers and plants in a nursery or garden, who
needs 'em?
5. Spanish (starting annual salary: $35,600; mid-career annual salary: $52,600)
As
an old proverb puts it, when you learn a new language, you "gain a new
soul." Who could put a price on that? And certainly, knowing
Spanish--the language with the second-highest number of native speakers
(after Mandarin)--in addition to English opens up a world of job
opportunities beyond Spanish teacher or translator (as a plus, you can better enjoy a world of fantastic Spanish-language music, movies, and literature).
4. Music (starting annual salary: $34,000; mid-career annual salary: $52,000)
Hey, if being a musician were easy, everyone would do it. Some of us are guitar heroes; most of us just play the video game.
3. Theology (starting annual salary: $34,800; mid-career annual salary: $51,500)
This
is the perfect example of a degree earned by someone who's "not in it
for the money": people who choose to study theology often feel they're
pursuing a higher calling (and often feel a strong desire to do good in
the world, no matter the cost).
2. Elementary education (starting annual salary: $33,000; mid-career annual salary: $42,400)
Specializing in elementary education means a lower median salary than an education degree (number 7).
1. Social work (starting annual salary: $33,400; mid-career annual salary: $41,600)
They
say that crime doesn't pay. As this list seems to point out, neither
does helping people. So it's a good thing that many college students
seem to believe that helping others is its own reward--social workers
are an indispensable safety net for people who've fallen on difficult
times. And the BLS reports that the outlook for opportunities in this
field are favorable--particularly for social workers who work in rural
areas or with senior citizens.
(Source: PayScale salary survey. Methodology: Annual pay is for bachelor's graduates without higher degrees. Typical starting salaries are for graduates with two years of experience; mid-career salaries are for graduates with 15 years of experience. PayScale also provides salary information by college; for more information, check out PayScale's Best Colleges Report.)