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Actuarial science, the formal term for the study of insurance, was ranked the most valuable college major, according to a Bankrate.com report released on Monday. Actuarial science majors earn an average annual salary of $108,658 and have a better-than-average unemployment rate at 2.3 percent. And at a time when student debt is at a record high, these graduates are less likely to incur the added expense of additional schooling and delayed earning potential. Less than 1 in 4 graduates pursue advanced degrees.
"The actuarial science profession is interesting because students don't need advanced degrees to gain livable wages, but instead are certified through a series of exams overseen by the industry's professional organizations," said Bankrate.com analyst Adrian Garcia in an interview. "Students typically pass one to two of these exams while in school and then go on and complete others while working, earning raises and bonuses as they pass."
The study ranked 162 majors with labor forces of at least 15,000 people based on average annual income, employment status and whether those graduates went on to pursue a higher degree within 12 months. Income accounted for 70 percent of the weighted ranking, unemployment for 20 percent and 10 percent was awarded to career paths that did not demand additional education. The data was derived from the U.S. Census Bureau's 2016 American Community Survey.
Source: Bloomberg News
(Score: 0) by Anonymous Coward on Wednesday September 12 2018, @01:06PM (7 children)
1. Acturial Science
2. Zoology
3. Nuclear Engineering
4. Health & Medical Preparatory Programs
5. Applied Mathematics
158. Visual & Performing Arts
159. Cosmetology & Culinary Arts
160. Clinical Psychology
161. Composition & Speech
162. Miscellaneous Fine Arts
Statisticians are overpaid and the reason the arts are presumed to be wealth generating pursuits is because only the wealthy can afford to be "artists". Didn't we already know this?
(Score: 0) by Anonymous Coward on Wednesday September 12 2018, @02:01PM
Isn't a "fine arts" degree supposed to associated with lower income than dropping out of high school?
(Score: 2) by fritsd on Wednesday September 12 2018, @02:37PM (1 child)
I don't think so :-) [wikipedia.org] and I'm not even a statistician.
(Score: 0) by Anonymous Coward on Wednesday September 12 2018, @03:17PM
This is why you may be underpaid ;) [wikipedia.org]
(Score: 1) by TechieRefugee on Wednesday September 12 2018, @03:01PM
Fine Arts should be the number one dream job, 'cuz if you think you'll get a job in it, you're dreaming!
(Score: 0) by Anonymous Coward on Wednesday September 12 2018, @03:42PM
Acturial Science was #1 when I graduated from college 30 years ago with a math degree.
(Score: 3, Funny) by Osamabobama on Wednesday September 12 2018, @06:16PM (1 child)
Why would these two fields be lumped together? That's a good way to get hair in your food.
Appended to the end of comments you post. Max: 120 chars.
(Score: 1, Funny) by Anonymous Coward on Wednesday September 12 2018, @08:21PM
What do you think your mcburger is made out of?