My brother, who lives out of the State came to visit my family and me over the weekend. He brought along with him his entire family. It is impressive to see how fast kids grow these days. I mean it was just the other day, my wife and I went to visit my brother when they had their son.
To think that he is now 17 and soon will be joining college makes my skin crawl at how old I must be getting. My fears aside, I did have a moment with my nephew, where he shared with me his anxieties about joining college.
My nephew was concerned that he might pick a course that will have no demand in the job market. Well, we sat together in front of a computer and ran little research on the best college majors for the future job market. The following list is what we came up with;
1. STEM Majors
My nephew and I, based on the research we did, concluded on the following list of STEM majors. As ideal for students inclined towards math, building, and design. Also, one who doesn’t mind sitting behind a desk all day, every day. They would be better suited to taking a career in Science, Technology, Engineering, and Math (STEM). Majors under this category are:
a) Statistics
Right out of college, statisticians working at the entry-level positions can earn an average of $46,500 annually. The industry’s average income for statisticians is $80,500, and the estimated job growth in the market stands at 34%.
Statistics, even though it is a branch of mathematics. The task involves complex data collection, analysis, and number crunching to solve real-life problems.
b) Mathematics
Holding a degree in mathematics makes you eligible for many different career paths. Including being an Actuary assessing financial risks, math teacher, and operations research analysis manager. Professionals who hold a degree in mathematics earn an average salary of $100,610, and their industry is projected to have job growth of 28%.
c) Computer Science
A broader definition of computer science would be something along the lines of a scientific theoretical and practical applications related to computers. Professionals in this field have a steady job market, good pay, and unique opportunities with an average salary of $111,840 annually. The job growth in the market is also expected to grow at a rate of 12%.
d) Engineering
On average, professionals in this field take home an annual salary of $83,540. However, it is important to note that engineering is a wide, with various sub-branches including civil, electrical, mechanical, and engineering technologies. Some sub-branches have more job satisfaction than others.
For instance, the average take-home for civil engineers is about $83,540 annually. Those sub-branches with the least pay on average still make about $53,470 annually. The biggest drawback with engineering is the job growth is too low; standing at just 4% over the coming years.
e) Physics
A degree in physics sets you up on a career path across many industries, including space and astronomy, research science, engineering, and healthcare. Though the transition rate from a physics major to a professional physicist is low. Those who do pursue physics to its highest levels do make it to a lucrative career with earnings averaging $114,870.
This field is also expected to have job growth of 8%, mainly as lecturers in colleges and universities. The government employs the majority of physicists in institutions like NASA and other research facilities. The demand for their services in the private sector is also high.
f) Systems Engineering
There is a big difference between the typical engineering works and systems engineerings. The latter entails creating and managing complex processes, while the former is designing physical structures. Systems engineering is a business degree where one leverages on organization’s systems to come up with the best results.
An excellent example of a career for a systems engineer is a logistician in a big organization. Such professions earn an average of $74,170 per year, with expected job growth of just 2%. Other career paths born out of systems engineering include business and operations specialists whose job growth is estimated to be at 7%.
2. Business and Finance Majors
To succeed in the corporate world, one needs to have certain traits. The important ones being an organized individual who is people-friendly and driven. They must also have a liking to wearing smart; in business suits. While that’s the personality trait part of it, next comes the skills and the following courses provide you the training to be a successful business person:
a) Marketing
Marketing professionals are mostly in the business of sales and promotions. Any business needs the services of a marketer. Be it in medicine, ICT, legal, or any other industry. According to BLS, marketing professionals on average, take home $131,180 per year. The demand for their services is also set to grow by 9% over the coming years.
b) Management Information Systems (MIS)
An MIS degree merges business theories with computer technology to come up with a system that will make business processes flow faster, efficiently, and effectively. A holder of this degree can enter a vast number of careers including computer system analyst, an information system manager, and database admin. According to the BLS, professionals in this field make an average of $113,800 annually. The job market is also estimated to grow by 15%.
c) Economics
A Major in Economics opens you up in many career paths, including as an Economist, Financial Associate, and Investment Manager. They are some of the best-paid professionals in the market, according to BLS, making an average of $101,050 annually. However, they do face lower prospects of job growth at just 6%, which is less than the average for all careers job growth by 1%. Though those who advance their education to at least a Master’s degree have higher prospects.
d) Finance
A Major in Finance includes training in accounting, economics, and statistics. Some of the best careers for someone with a degree in finance include Financial Analysts with an average annual salary of $81,760. A professional in the finance sector is required to get licensing, usually from the Financial Industry Regulatory Authority. The license fee is usually paid by the company that hires the professional, and will likely not hinder one from getting a job. The job growth for financial analysts is expected to grow by 12% over the next decade.
e) Accounting
Accounting merges math and smart business practices to help businesses achieve their targets while avoiding loses. An ideal accountant is a person with a liking to numbers and the ability to articulate numerical messages in a simple way that even a non-specialist can understand.
Certified Public Accountants need both rigorous accounting training and certification from the state’s Board of Accountancy. Both accountants and auditors make about $68,150 per year with a job growth outlook of 11%.
3. Public Service Majors
If you feel you have an urge to help others, then the public service would be a more fitting career for you. The following at the leading majors for a fulfilling career in public service:
a) Nursing
Nationwide, there is a significant increase in demand for more health workers. With nurses having featured in the top three-high paying major in the year 2017 according to BLS. The typical registered nurse at the entry-level position earns about $67,490 annually. A more experienced nurse practitioner makes $98,190 annually.
Few jobs are as rewarding as those in healthcare; the pay is good while you get to do life-changing operations. However, to qualify as a practitioner, one must undergo rigorous training and tests. Nursing programs are also very competitive and time-consuming.
b) Education
Teachers are needed all over the world, and at all levels of learning. Starting from pre-schools to institutions of higher learning. A qualified teacher must have a Bachelor’s degree in Education and a certificate issued by your respective State.
The teaching profession, starting from kindergarten, through elementary school, special education program, and high schools is expected to increase in terms of job availability by 6%. An average elementary teacher takes home about $55,490 per year.
High-Growth Industries
All along, we have been looking at the best college majors with a promising future in the job market. Now let take a twist and look at industries with estimated high future growth and work away back to the majors leading to a career in the given sectors.
1. Healthcare Sector
Data by BLS show a growing demand for professionals in the healthcare sector. Between 2014 and 2024, there will be at least 458,000 new jobs created in this sector. That should be a significant motivational factor for anyone in college pursuing higher education in this sector, including administrative and support roles in the healthcare sector.
The BLS breaks down the job growth in the health sector as follows:
- Home health aides – 38%
- Personal care aides – 26%
- Medical assistants – 23%
- Medical secretaries – 20%
- Nursing assistants – 17%
- Registered nurses – 16%
2. Information Communication Technology (ICT) Sector
ICT forms the skeleton of modern-day operations virtually across all industries. You use ICT at work, home, in school, in traffic; nearly everywhere. The corporate sector for one is heavily dependent on ICT to leverage on speed, effectiveness, and efficiencies of processes. BLS estimates that jobs created from ICT will increase in the coming years as broken down below:
- Computer systems analysts – 21%
- Software developers – 19%
- Information security analysts – 18%
- Computer user support specialists – 13%
- All computer occupations – 12 %
2. Business & Commerce
In business and commerce, there is a wide array of careers, and it would be difficult to pin down a business job. Since anything set up to make profits is a business. That includes private clinics, private schools, private tutoring, media, and communications.
That said, the term business job is so ambiguous to say these are the business jobs that are in demand. However, there are those business operations specialists whose roles are in demand. The BLS estimates that between the years 2014 and 2024, job growth for business operations specialists will increase by more than 27,000 new jobs. Market analysts and specialists job growth will be by 92,300.
In summary, the business and commerce sector will see job growths for the following specialists:
- Operations research analyst – 30%
- Marketing analysts and specialists – 17%
- Management analysts – 14%
- Cost estimators – 9%