Good News Liberal-Arts Majors: Your Peers Probably Won’t Outearn You Forever
Liberal-arts majors often trail their peers in terms of salary early on, but the divide tends to narrow or even disappear as careers progress
It’s no secret that liberal-arts graduates tend to fare worse than many of their counterparts immediately after college: According to PayScale Inc., a Seattle-based provider of salary data, the typical English or sociology graduate with zero to five years of experience earns an average of just $39,000 a year.
.. The story tends to change, however, as careers play out. Over time, liberal-arts majors often pursue graduate degrees and gravitate into high-paying fields such as general management, politics, law and sales
.. Using Census Bureau data, the Brookings Institution’s Hamilton Project analyzed lifetime earnings for each discipline’s top 10% of moneymakers. It found that computer science’s stars rang up lifetime earnings of at least $3.2 million. Nice work, but not as impressive as philosophy majors’ $3.46 million or history majors’ $3.75 million.
.. “College shouldn’t prepare you for your first job, but for the rest of your life,” says John Kroger, president of Reed College in Oregon, the liberal-arts school that famously served as a starting point for Steve Jobs. Although Mr. Jobs dropped out of Reed in the early 1970s, the Apple Inc. founder often credited the school with stretching his horizons in areas such as calligraphy, which later influenced Apple’s design ethos.
.. In the short-term, employers still say they prefer college graduates with career-tailored majors.
.. A recent survey of 180 companies by the National Association of Colleges and Employers found that at least 68% want to hire candidates who majored in business or engineering. By contrast, only 24% explicitly want communications majors, 21% want social-sciences majors and 10% humanities majors.
When asked to define the résumé traits that matter most, however, the NACE-surveyed employers rated technical skills 10th. Four of the top five traits were hallmarks of a traditional liberal-arts education: teamwork, clear writing, problem-solving aptitude and strong oral communications.
.. “It’s easier to hire people who can write—and teach them how to read financial statements—rather than hire accountants in hopes of teaching them to be strong writers,”
.. PayScale’s data shows that for people with 10 to 20 years of experience, degrees in communications, political science, history and philosophy yield average annual income of $70,000 or more. By contrast, degrees in French, anthropology, creative writing and film fit into a band of $60,000 to $69,000. Fields such as theology, photography and music bring up the rear; they pay less than $60,000 on average.