In the past, a college degree all but assured job seekers employment and high earnings, but today, what you make depends on what you take. In Hard Times 2013, we show differences in unemployment and earnings based on major for BA and graduate degree holders. We show that STEM — Science, Technology, Engineering, and Mathematics — majors typically offer the best opportunities for employment and earnings, while unemployment is higher for graduates with non-technical degrees.

1. Hard Times:
College Majors, Unemployment and
Earnings
Anthony P. Carnevale and Ban Cheah
May 29, 2013

2. Overview
• It pays to have a college degree, but not all degrees lead to
the same earnings and employment levels
• College graduates with work experience have a better chance
of finding employment

3. Unemployment
• Overall unemployment rates for college graduates in 2010 with work
experience hover around 4.6 to 4.7 %.
• The overall unemployment rate for recent college graduates in 2010 is
higher at 7.9%

4. Unemployment
• Unemployment rates decrease as graduates gain experience
• The majors with the lowest unemployment are:
– Nursing 4.8%
– Elementary Education 5%
– Physical Fitness, Parks & Recreation 5.2%
– Chemistry 5.8%
– Finance 5.9%

5. Unemployment
• The majors with the highest unemployment rate are:
– Political Science 11.1%
– Film, Video & Photography Arts 11.4%
– Anthropology 12.6%
– Architecture 12.8%
– Information Systems 14.7%

6. Earnings
• Earnings increase in all majors as graduates gain experience

7. Cont.
• Median earnings among recent college graduates range from
$54,000 for engineering majors to $30,000 for arts,
psychology and social work, and life and physical sciences
• The highest paying majors continue to be in engineering

8. Conclusion
• Attending college is the best option for finding employment
opportunities. The more advanced your degree the more
likely you are to earn more
• Not all college degrees are created equally and what major
you take matters the most

9. For more information:
See the full report and executive summary on
http://cew.georgetown.edu/report/hard-times-2013
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