<p>How well do above average business majors do salary-wise 20 years down the road? If you're an investment banker, yes you would make more money, but is the cost-benefit ratio higher? For me, it wouldn't be. Working 80-100 hours per week on a regular basis is out of the question regardless of pay. Maybe it's worth it for you though?</p>
<p>Engineers tend to have a fairly good quality of life though, IMO, compared to the top-paying fields. For quality of life, I include earnings, location, working conditions, job security, and happiness. </p>
<p>Earnings - Lower for engineers than lawyers, doctors, bankers, but it's still more than enough to support your family</p>
<p>Location - I think this comes out even between engineers and others. While not every field in engineering can work anywhere in the country (i.e. aerospace), you won't get paid top dollar as a lawyer or investment banker unless you're station in a large city such as NYC, so your options are a bit limited there as well.</p>
<p>Working Conditions - I haven't heard of an engineer working more than 60 hours on a regular basis. I haven't heard of a lawyer or investment banker working less than 60 hours on a regular basis. Doctors have it rough too if they're on call. For me, this is what puts engineering over the top. You can't put a price on time I can spend with my family and time for myself to relax.</p>
<p>Job security - Engineers tend to weather the storm pretty well. Those in finance are having a little trouble right now. About two weeks ago, there was a finance engineer on the streets of New York wearing a sign that said "MIT graduate for hire." He's been unemployed for 6 months now, and has to move back to Nebraska if he can't find another job. I know it's not the norm, but it's just a sign of the times. It seems like every other week, I read in the newspaper about some big finance firm doing a mass layoff. </p>
<p>Happiness - A study (Depression</a> among Adults Employed Full-Time, by Occupational Category, SAMHSA, Office of Applied Studies) shows that engineers have one of the lowest rates of depression. </p>
<p>I completely agree with chuy. People that go into engineering for the money are likely to become miserable, which may explain why we don't have enough engineers. The incentive to go into engineering just isn't high enough if you're not truly interested in the field. What I've noticed ASCE doing is that they're trying to stir up interest in students before they get to college. I know they have a program that targets kids as young as kindergartners. There's also the West Point Bridge Design competition that targets middle schoolers and high schoolers. Then there's the Future Cities competition for middle schoolers. Getting kids passionate about engineering at a young age seems to be one of ASCE's strategies.</p>