Dive Brief:
- Money magazine analyzed the earnings of college students who majored in science, technology, engineering and math subjects, finding wide variation in the outcomes for these students based on the college they attend.
- The analysis concluded the average recent graduate with a STEM degree makes more than $51,000, but recent grads from more than 40 schools earn less than $40,000 on average, less than national averages for dance majors, for example.
- A key problem with generalizations about STEM majors is they look at the earnings of graduates, but at some schools, one-third or more of the initial freshman class ends up dropping out or changing majors.
Dive Insight:
Popular advice now is that all college students should major in science, technology, engineering and math fields to ensure a high return on the investment in the degree. However, Money's analysis points out that not all STEM programs are created equal. Not only that, it is relevant to note the tendency of some schools to intentionally weed out students with intentionally difficult gateway courses to discourage many students from completing these degrees.
Money’s analysis shows the nuance for STEM majors, which could help students reconsider going into a field in which they're not interested and even encourage legislatures to stop picking on the liberal arts. The problem is the training that students get for in-demand STEM fields now may not be the training they will need for jobs that will be created in 10 or 15 years. A complete shift away from the broad-based education of the liberal arts may leave a generation underprepared to adapt.
