Top 10 College Majors That Are Actually Worth It

Summary

This video explores the value of college degrees, debunking the common advice to 'follow your passion' and scrutinizing the rising costs and diminishing returns. It discusses how the ubiquity of degrees has lessened their value, with a significant number of graduates facing regrets and debt. The speaker, a doctorate holder, provides an insider's perspective on the college system and offers insights into choosing a degree with a good return on investment. The video guides viewers on selecting a degree that aligns with their goals and financial realities, highlighting fields like science, economics, and engineering, and emphasizing the importance of practical skills and market demand.

Takeaways

• 🎓 The value of a college degree has been decreasing while the cost has been increasing, making it crucial to consider the return on investment for each degree.
• 📚 Nearly 70% of people attend college, making a college degree less rare and thus less valuable in the job market due to supply and demand dynamics.
• 💸 About 40% of college attendees drop out, and of those who complete their degree, two-thirds have regrets, often due to college debt and lack of job preparedness.
• 🔬 Science degrees, particularly at the bachelor's level, are not as lucrative as other fields, with chemistry being one of the better options ranked at 54 out of over 900 degrees.
• 💼 Economics degrees are favored by many famous and successful individuals, providing a strong understanding of economic principles and opportunities.
• 🌌 Physics degrees are associated with some of the most brilliant minds in history and are valued by the finance industry for their analytical skills.
• 🧮 Mathematics and statistics degrees are highly regarded, with mathematics being particularly valuable for its practical applications in various fields.
• 💼 Business degrees, despite their reputation, offer good return on investment, with management information systems being a particularly strong combination of business and tech skills.
• 💻 Technology degrees are relatively new but have proven to be effective, with information technology being a popular and lucrative field.
• 🏥 Health-related degrees, especially in nursing and physician assisting, are stable and necessary for entering the healthcare profession.
• 🛠️ Engineering degrees are challenging but offer practical problem-solving skills and are highly valued, with engineering degrees dominating the top of the college degree ranker.
• 💻 Computer science degrees rank the highest, offering excellent job prospects, high salaries, and the potential for early financial independence.

Q & A

What is the main message of the video regarding choosing a college degree?

The main message is that the value of a college degree varies greatly depending on the field of study, and it's important to choose a degree that has a good return on investment and aligns with one's career goals, especially considering the rising costs and potential for student loan debt.

Why does the video suggest that the advice to 'follow your passion' might not be enough?

The video suggests that following one's passion alone might not be enough because it doesn't always align with economic realities and job market demands. It emphasizes the need to consider the financial return on investment and job prospects when choosing a college degree.

What percentage of people who go to college end up dropping out according to the video?

According to the video, 40 percent of people who go to college end up dropping out.

Why does the video mention that a college degree used to be a good investment for previous generations?

The video mentions that a college degree used to be a good investment for previous generations because it was rare, which made it valuable. However, with nearly 70 percent of people now attending college, the rarity and thus the value of a degree have decreased.

What are some reasons people might regret their college experience as highlighted in the video?

People might regret their college experience due to the burden of student loan debt and because college does not adequately prepare them for the workforce. Additionally, only one in four people end up working in a career related to their degree.

What advice does the video give on how to choose the best degree for oneself?

The video advises choosing a degree that has a good return on investment, aligns with one's goals, and is in a field where there is demand for the skills learned. It also suggests considering the ease of finding a job in the chosen field and the potential for career growth.

Why does the video rank science degrees lower compared to other STEM degrees?

The video ranks science degrees lower at the bachelor's level compared to other STEM degrees because they often require additional education, such as a master's or doctorate, to secure high-level jobs in the field, making them a less direct path to a lucrative career.

What is the significance of the video mentioning famous people who have studied economics?

The video mentions famous people who have studied economics to illustrate the versatility and applicability of the degree across various successful careers, suggesting that an understanding of economics can be beneficial in identifying and capitalizing on opportunities.

Why does the video consider engineering degrees to be valuable?

Engineering degrees are considered valuable because they provide a natural barrier to entry due to their difficulty, ensure that graduates are perceived as both smart and hardworking by employers, and equip students with practical problem-solving skills that are highly applicable in the real world.

What makes computer science degrees stand out as the top choice according to the video?

Computer science degrees stand out as the top choice because they offer the best statistics in terms of return on investment, job prospects, and salary potential. Graduates often become software developers, which is a field with high demand, good salaries, benefits, and work-life balance.

How does the video suggest one can get into technology-related careers without a degree?

The video suggests that there are alternative, faster, cheaper, and easier ways to get into technology-related careers without a degree, such as through self-study, online courses, certifications, and networking, although it acknowledges that a degree can still be a valuable asset.