The most lucrative degrees

College Majors Engineering Majors
1

<p>This topic is regarding the financial prospects of an engineer with various degrees.</p>

<p>From what I've heard, a master's degree will allow one a bit of a salary jump, and positions that junior BSc's would not get. I've heard that PhD's are mainly to prof, but some profs actually make a pretty good living. I've also heard that an MBA is a useful tool to get into management, which is another salary increase.</p>

<p>What combination do you guys think poses the biggest financial prospects? By that, I mean the type of engineering, and type of Graduate degree(s). I also would like to know the difference between an MSc. and an MEng. (I know that one is thesis based, and the other is not, but I'd like to know about the differences of having either degree).</p>

<p>Right now, I see my options as follows:</p>

<p>Engineering-->Law
Engineering-->MBA [either management or business (Investment Banking)]
Engineering-->MBA+Master's
Engineering-->PhD.</p>

<p>But I have yet to decide on even my engineering specialization. I'm just like any other guy, and I'd like to become rich. Does anyone have any knowledge on the subject as to how to maximize one's economic future with an Engg. BSc.?</p>

<p>Keep in mind that the medical field is not as lucrative in Canada as it is in the states (actually a lot less, due to publicized healthcare). Chemical Engineers in Alberta actually average more than doctors and pharmacists. Dentists make the most (privatized), but I'm not interested in that.</p>

2

<p>I don't know if you care or not, but you'll never be successful if you're only after the money. Do something you love and are passionate about because it shows in the end.</p>

3

<p>I'm not passionate about anything, that's the problem. That's why I'm in it for the money. The only thing that looks like a direct route to money (to me) is dentistry, which I couldn't stand doing.</p>

4

<p>Good luck.</p>

5

<p>Troll!!!!!!!!!!!!!!!!!!!!!!!!!!!</p>

6

<p>Pardon my sarcasm. On a general note, I think the most succesful individuals in the future are those with specialization. I suggest exploring engineering first before considering the $</p>

<p>good luck.</p>

7

<p>If you want to be filthy rich, open up your own business. All those degrees are useless.</p>

8

<p>"Troll!!!!!!!!!!!!!!!!!!!!!!!!!!!"</p>

<p>Rigggght. </p>

<p>"I suggest exploring engineering first before considering the $"</p>

<p>I'll definitely probably find something that I like about something specific in Engineering later on. However, I'm merely asking people what the most economically beneficial route would be.</p>

<p>"If you want to be filthy rich, open up your own business. All those degrees are useless."</p>

<p>Nah, that's ok.</p>

9

<p>"I'm not passionate about anything"</p>

<p>Well, I do hope you can find something in college that really attracts you in a special way(a subject not a person, though it'd be nice to find a person too) because you're going to spend at least 20+ years doing it.</p>

10

<p>
[quote]
Well, I do hope you can find something in college that really attracts you in a special way(a subject not a person, though it'd be nice to find a person too) because you're going to spend at least 20+ years doing it.

[/quote]
</p>

<p>Nah, unlikely. The honest truth is, most people will not end up with a job that corresponds to whatever they studied. After all, how many History majors end up working as historians? How many polisci majors get end up working as political scientists? How many psychology majors end up working as psychologists? </p>

<p>Look, the truth is, education isn't really about preparing yourself for a vocation. Education is primarily about developing your ability to think so that you can quickly learn the skills that you will need for your job, whatever that ends up being. And, yes, education is to some extent also about getting your ticket punched, as lots of companies out there just want to hire people who have college degrees and don't care what they majored in as long as they have the degree.</p>

11

<p>But the thing is that universities teach you those skills that your employer wants you to have. Instead of teaching you themselves, the universities do it for them.</p>

12

<p>
[quote]
</p>

<p>Nah, unlikely. The honest truth is, most people will not end up with a job that corresponds to whatever they studied. After all, how many History majors end up working as historians? How many polisci majors get end up working as political scientists? How many psychology majors end up working as psychologists?</p>

<p>Look, the truth is, education isn't really about preparing yourself for a vocation. Education is primarily about developing your ability to think so that you can quickly learn the skills that you will need for your job, whatever that ends up being. And, yes, education is to some extent also about getting your ticket punched, as lots of companies out there just want to hire people who have college degrees and don't care what they majored in as long as they have the degree.

[/quote]
</p>

<p>While this is true, if you study engineering you will most likely do engineering or continue with education. (or perhaps pursue management directly, or IB if you have the connections) Engineering students learn engineering and a way of thinking...you cannot compare this to a psychology student who has no idea what she/he wants to do after school directly. I know I don't want to go to engineering school and get some job that I could have gotten with any BA unless it is investment banking or some other great job.</p>

13

<p>
[quote]
But the thing is that universities teach you those skills that your employer wants you to have. Instead of teaching you themselves, the universities do it for them.

[/quote]
</p>

<p>Oh, I don't know. It seems to me that back in my undergrad school which shall remain unnamed, there were plenty of people who majored in extremely easy subjects that required very little studying and heck, where you could pass your classes while barely even showing up to class, and where the only thing many of the students seemingly learned to do was drink and party and pick up members of the opposite sex. But in the final analysis, they have a degree, so they are eligible to interview for all those jobs that require degrees. Their degrees may be in joke majors and their GPA's aren't the greatest, but hey, at the end of the day, they have a degree. </p>

<p>
[quote]
While this is true, if you study engineering you will most likely do engineering or continue with education. (or perhaps pursue management directly, or IB if you have the connections) Engineering students learn engineering and a way of thinking...you cannot compare this to a psychology student who has no idea what she/he wants to do after school directly. I know I don't want to go to engineering school and get some job that I could have gotten with any BA unless it is investment banking or some other great job.

[/quote]
</p>

<p>Well, let me say this. At MIT, for all the engineers who get jobs after graduation, anecdotally speaking, I would say at least 1/4 ended up in consulting or banking. I would probably say at least another 1/4 wanted to end up in consulting/banking but either didn't get an offer or got an offer from only a minor consulting firm or bank and determined that it wasn't as good as just working as an engineer. Hence, that means that at least 1/2 of the engineers who want to get jobs were interested in going to consulting/banking.</p>

<p>I think this is fairly typical at the top engineering programs. A lot of people see engineering as a way to have a decent backup career. Nothing more, nothing less. And, like you said, it also has a way of raising your expectations. With an engineering degree, you feel that you don't have to settle for just "any" job that the liberal arts guy might have to take. Any job you take has to be better than a regular engineering job. </p>

<p>However, the point still stands that plenty of people who study engineering are just like the psych majors in that they don't really know what they want to do. Many engineering students view engineering as simply a 'backup career' but are happy to jump if something better comes along. The point is that I think that the 2 situations (engineering and psychology) are thus entirely comparable in the sense that many of their students do not really know what they want to do. Sure, a lot of engineering students take engineering jobs, but that's only because for many of them, something better didn't come along.</p>

14

<p>If you're in it for the money, why did you enter engineering over law or business in the first place? You must've been somewhat passionate about it to choose this field. I think it's safe to say on average, people in law and business will make more money than engineers.</p>

15

<p>You need a degree before you can enter law; and my school doesn't have a top-rated business program. Engineering acts as an excellent backup degree, and I'm also fairly interested in it.</p>

16

<p>Every thread I've seen where someone simply asks which major/degree/career path is the most lucrative, people just respond that its not about the money and the thread dies off. </p>

<p>To some of us, it is about the money. Sure money isnt everything, but it helps/develops/maintains/progresses everything. Health, family, loved ones, friends, relaxation, spending time doing things I enjoy is what matters to me- and money helps all of that.</p>

<p>I'm considering engineering (at this point probably ChemE) beacause it is safe. The money will be there regardless of which path I take after the degree. All the stats show engineering has the highest average paying major. Sure a few of the business/econ majors make millions, but most make far far less. Like a good investor, I want to take the least amount of risk- and that is with Engineering.</p>

<p>I'm getting more and more interested in the Engineering -> IBanking route (I just spoke with my uncle who is an advisor at MetLife and could help me out with internships/interviews/etc) and am still considering the medical route. I feel with that with a ChemE (and any required pre-reqs) I could choose to either:</p>

<ol>
<li><p>Jump straight into IBanking, then get a Masters and/or MBA</p></li>
<li><p>Try for med school, if I find later on that its something I'd like to pursue</p></li>
<li><p>Try for pharmacy school, another area that interests me and has a good pay (The pharmacuetical trade is up there with the gun trade in third world/post war countries. There's a looot of money there.)</p></li>
</ol>

<p>Or if nothing works out,
4. Work as a chemical engineer and still get a very good pay. Then get the Masters/MBA down the line.</p>

17

<p>Money sure does help, but none of the professions people are considering here will make them struggle to get by in life. Engineering, medical, business, law... they're all great. You can't go wrong with any of them. How much you enjoy the work is more of an issue now and will likely have more of an impact on your monetary success than the actual profession itself. If you don't like what you do for a living, how are you going to be able to survive 40 years of it? (regardless of your salary)</p>

18

<p>LateRegistration, a lot of people goto college thinking exactly like you, but when u have that many options in mind, u don't have any aim/goal. U will end up doing bad in all of them. U should pick the one u think u want the most and stick with it.</p>