<p>This article points to studies that offer a contrasting interpretation to a deeply-held belief by some, including some students and parents on CC. Some think that for job/career/life security, a STEM degree is a far better choice than a social science degree, which in turn is better than an education degree, or a humanities degree. </p>
<p>However, a key quote from the article states: </p>
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[quote]
Numerous studies, including by Daniel Hamermesh and Steven Gould of the University of Texas and by Joseph Altonji, Erica Blom and Costas Meghir of Yale, have found that controlling for SAT scores, hours worked and other factors explains most of the pay differences that initially appear to be driven by choice of college major.
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<p>So it seems like part of the reason that STEM grads make more over a lifetime is in part because those who finish STEM degrees have higher test scores and intellectual capability in the first place--their success is not (only) because they have a STEM degree, but perhaps more because they were able to finish the STEM degree. Classic case of self-selection. </p>
<p>That is, a history grad capable of completing a STEM degree (measured through proxies such as SAT scores) will make, in a lifetime, income comparable to a STEM grad with similar stats prior to matriculation in college. </p>
<p>So the solution to unemployed college grads probably isn't to get more students to jump into STEM fields; many are staying away from STEM fields precisely because they can't handle it.</p>
<p>Regarding engineering, computer science, math, and other specific majors with better job and career prospects, the idea that it is related to higher intellectual capabilities of those completing these majors is consistent with the economic observation. If the supply of graduates in this majors is limited (as claimed by the setting of a minimum bar on intellectual capability), then it is no surprise that they are paid well if there is good demand for their skills.</p>
<p>That of course assumes that every STEM (or non-STEM) major tries to find a job in their specific specialty. I canāt tell you how many EECS people I know who are doing something other than being an engineer. Ha.</p>
<p>In a number of cases, the standards for getting into STEM majors (particularly engineering, C.S., and some of the sciences) are higher than for many non-STEM majors. </p>
<p>Add to that corporate recruiting policies that often open interviews only to students in certain schools or majors, and the choice of major could influence a lot of career path options.</p>
<p>Itās not āSTEM in general.ā These days, itās certain kinds of engineering, computer science, and high-level math that seem to represent a kind of golden ticket upon graduation.</p>
<p>But one of the reason thereās so much demand for EECS types now is because we essentially slaughtered a whole generation of them a decade ago. I hope it doesnāt happen again.</p>
<p>I remember interviewing law students in 2004. Every one of them was interested in IP law, and had had a great job at a tech company before going to law school (because there were no more great jobs at tech companies). Kids I knew who graduated in 2000 and took great jobs with princely compensation get laid off within a month of starting (if they even got to start) ā just enough time to spend money on moving and to sign a lease on an expensive apartment that couldnāt be re-let because all the other people who would have wanted to live there had just lost their jobs, too.</p>
<p>Does this apply only to those who stopped at a bachelorās degree?
(Iām thinking of all the MDās I know who have undergrad degrees in humanities and social sciences.)</p>
<p>My kids have been encouraged to study what interests them. I donāt put much faith in āpicking the right majorā if they will end up hating their jobs.</p>
<p>My Dh is a case in point. He scored an 800 on his math SAT back in 1969, but majored in history. He does use math in his work, but heās in a client facing occupation that rewards him for his general intellect and personal skills, not his math skills.
Both of my kids graduated with social science majors. They both have considerable math ability, too, but the interest in technical fields like engineering or CS just wasnāt there. I think they will do fine. They are both self-supporting- just not flush. It took their dad a few years to find his niche, but smart people usually find a way to support themselves, and theyāre happier if they enjoy their work. I think mamabear has it right.</p>
<p>The moral is, if you are a square peg, itās not a good idea to pound yourself into a round hole, even if there are more round holes available.</p>
<p>Not sure I follow. Because everything besides STEM is sales? And because sales isnāt important? Let me know when you have that world-changing product that no one wants to buyā¦or knows about.</p>
<p>People with higher aptitude earn more, on average. This isnāt anything new. Just like the higher earnings of people that go to Ivies is mostly due to the fact that they were among the most intelligent/motivated/hard-working to begin with.</p>
<p>I donāt get the insistence that everything other than STEM is sales. The non-STEM people I know are definitely not in sales - one plays in a symphony orchestra, one designs web pages (English degree), one works for the Dept of Defense, one a private consulting firm, one a DC think tank, one a bank VP, some teach, etc. All are happy and supporting themselves</p>
<p>This is an important article which explains why simple comparisons of the incomes of college graduates and high school graduates may overstate the advantages of college attendance.
Some factors not mentioned could understate the benefits of college:</p>
<p>(1) The jobs held by college graduates may be more pleasant than those of high school graduates on average. Even if the average college grad earned the same as the average coal miner, he would do so through less arduous work.
(2) College graduates have lower unemployment rates.
(3) A college degree increases the chance of marrying someone with a college degree, who earns more and is more likely to come from a well-off family.
(4) College graduates may be more likely to have jobs with substantial non-cash benefits such as health insurance.</p>