Not all college degrees are created equal — and some could actually leave you struggling financially.
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Recent research from the Federal Reserve Bank of New York based on 2023 data from the U.S. Census Bureau showed which majors lead to the lowest median incomes within five years of graduation (ages 22 to 27).
Here are the seven worst-paying college degrees as per their median early-career wages.
Do they cost more than they’re worth?
1. Foreign language (median salary: $40,000)
Mastering a foreign language may be a useful life skill, but it isn’t likely to be a lucrative one. The median early-career wage for foreign language degree holders is just $40,000 and the underemployment rate is a whopping 51.1%.
However, if you can combine your foreign language skills with other skills, you could land a relatively lucrative career as a foreign exchange trader, sommelier, diplomat or court interpreter, according to Indeed. Foreign diplomats can earn six-figure salaries.
2. General social sciences (median salary: $41,000)
Roughly 54.1% of graduates whose major was general social sciences are underemployed, according to the Fed.
Students are taught critical thinking and research skills in this multidisciplinary program, and they can usually choose concentrations.
Combining a versatile bachelor’s degree like this with a law degree is one way to boost your earning potential.
3. Performing arts (median salary: $41,900)
A degree in performing arts could be highly satisfying and enjoyable if you’re naturally artistic. However, having your talent recognized and monetizing art is as difficult as ever, which means your performing arts degree isn’t likely to lead to a fortune.
According to the Fed, graduates with a major in performing arts earn a median salary of $41,900 at the start of their career and the underemployment rate is a staggering 62.3%.
Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
4. Anthropology (median salary: $42,000)
With a 9.4% unemployment rate and 55.9% underemployment rate, it seems graduates who major in anthropology face a difficult job market.
Part of the reason for this difficult job market could be the fact that the organizations that need to hire anthropologists tend to be ones with limited resources, like non-profits, government agencies or academic institutions.
5. Early childhood education (median salary: $42,000)
Shaping young minds is an essential but overlooked and underappreciated skill. According to ZipRecruiter, the average hourly pay for an early childhood education teacher in the U.S. is $17 an hour.
One study found staff turnover is higher in early care and education (ECE) centers with lower wages. It also appears there’s little potential to grow your salary since the mid-career median wage is just $49,000.
6. Family and consumer sciences (median salary: $42,000)
This degree gives students an education in areas like nutrition, human development, family dynamics, interior design and home economics.
Many roles are found in education, community human service agencies and government agencies, which often come with low salaries and slow upward mobility.
7. General education (median salary: $42,000)
This degree gives students basic knowledge in a broad variety of subjects. According to Learn.org, it prepares them for both a wide range of entry-level careers and graduate-level study in a specific field. More then half of the holders of this degree in the adult working-age population also have a graduate degree.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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