These “Worthless College Degrees” Might Make You Happy, But Fail the Tuition ROI Test

College: Is it Worth It?

What’s more expensive than going to college? Until recently, the answer was easy: not going to college. Numerous studies over the years have shown that individuals with college degrees significantly out-earn those with high school degrees by $1 million or more over the course of a lifetime.

But as the cost of education increases faster than inflation, people are beginning to question how they spend their education dollars. As student loans hit the $1.5 trillion mark and more and more graduates are faced with years of paying staggering monthly payments, many are starting to ask themselves, “Are there worthless college degrees?”

While there’s no doubt that a college degree increases earning power and broadens opportunities, today’s high cost of education means it makes sense to more carefully consider which degree you earn. When it comes to return on investment (ROI), not all degrees are considered equal. This article exposes eight college degrees with poor ROI.

Methodology

To calculate ROI for a specific degree, we first determined the overall cost of the degree. We allowed the degree holder four years to graduate. Using data from a recent College Board study, we assigned a figure of $37,343 as an average cost of a four-year public liberal arts degree, and a figure of $121,930 for degrees earned at four-year private colleges. The total cost included tuition, room and board, and books, and did not factor in scholarships or grants. We then determined the median cash compensation over the course of 30 years of typical jobs requiring that degree using Salary.com data. We used current Salary.com figures, but added 4.3% per year to account for inflation and cost of living increases. To determine ROI, we subtracted the cost of the degree from the gains over 30 years, then divided that figure by cost.

8. Sociology

People who enter the field of sociology generally are interested in helping their fellow man. Unfortunately, that kind of benevolence doesn’t usually translate to wealth. Here are three jobs commonly held by sociology majors (click on job title and/or salary for more info):

SOCIAL WORKER

Median Salary: $47,121

30-Year Earnings: $2,779,195

ROI of Degree Earner Attending Public College: 73%

ROI of Degree Earner Attending Private College: 21%

CORRECTIONS OFFICER

Median Salary: $39,630

30-Year Earnings: $2,337,376

ROI of Degree Earner Attending Public College: 61%

ROI of Degree Earner Attending Private College: 18%

CHEMICAL DEPENDENCY COUNSELOR

Median Salary: $47,210

30-Year Earnings: $2,784,444

ROI of Degree Earner Attending Public College: 73%

ROI of Degree Earner Attending Private College: 21%

7. Fine Arts

Artists are respected, revered and celebrated. The trick is achieving that status while they’re still alive. After all, the term “starving artist” didn’t come from nowhere. Here are three jobs commonly held by workers with a fine arts degree:

MUSEUM RESEARCH WORKER

Median Salary: $48,401

30-Year Earnings: $2,854,689

ROI of Degree Earner Attending Public College: 75%

ROI of Degree Earner Attending Private College: 22%

GRAPHIC DESIGNER

Median Salary: $47,753

30-Year Earnings: $2,816,470

ROI of Degree Earner Attending Public College: 74%

ROI of Degree Earner Attending Private College: 22%

PAINTER/ILLUSTRATOR

Median Salary: $37,819

30-Year Earnings: $2,230,563

ROI of Degree Earner Attending Public College: 58%

ROI of Degree Earner Attending Private College: 17%

6. Education

Ah teaching. One of the noblest professions. And while it stands to reason we’d pay great sums to the chosen few who shape the minds of future generations, it doesn’t quite work out that way. Here are three commonly held jobs in education:

DAYCARE CENTER TEACHER

Median Salary: $27,910

30-Year Earnings: $1,646,131

ROI of Degree Earner Attending Public College: 43%

ROI of Degree Earner Attending Private College: 13%

ELEMENTARY SCHOOL TEACHER

Median Salary: $52,241

30-Year Earnings: $3,081,172

ROI of Degree Earner Attending Public College: 82%

ROI of Degree Earner Attending Private College: 24%

HIGH SCHOOL TEACHER

Median Salary: $54,473

30-Year Earnings: $3,212,815

ROI of Degree Earner Attending Public College: 85%

ROI of Degree Earner Attending Private College: 25%

5. Religious Studies/Theology

Talk about finding your calling. While devoting your life to the church and dedicating your life to the service of others is laudable, it’s not going to leave you with a lot of profit after you earn your degree. Here are three commonly held jobs theological jobs:

RELIGIOUS EDUCATOR

Median Salary: $47,957

30-Year Earnings: $2,828,502

ROI of Degree Earner Attending Public College: 75%

ROI of Degree Earner Attending Private College: 22%

CHAPLAIN — HEALTHCARE

Median Salary: $51,127

30-Year Earnings: $3,015,174

ROI of Degree Earner Attending Public College: 80%

ROI of Degree Earner Attending Private College: 24%

ASSOCIATE PASTOR

Median Salary: $61,811

30-Year Earnings: $3,645,610

ROI of Degree Earner Attending Public College: 96%

ROI of Degree Earner Attending Private College: 29%

4. Hospitality/Tourism

You’re the wizard behind the curtain. The one who’s working like a dog to make it all happen while everyone else is enjoying the fruits of your labor. Unfortunately, there isn’t always a lot of financial benefit after earning your degree. Here are three commonly held hospitality jobs:

MEETING/EVENT PLANNER

Median Salary: $55,476

30-Year Earnings: $3,271,972

ROI of Degree Earner Attending Public College: 87%

ROI of Degree Earner Attending Private College: 26%

HOTEL RESIDENT MANAGER

Median Salary: $65,076

30-Year Earnings: $3,838,180

ROI of Degree Earner Attending Public College: 102%

ROI of Degree Earner Attending Private College: 30%

CATERING MANAGER

Median Salary: $42,533

30-Year Earnings: $2,508,595

ROI of Degree Earner Attending Public College: 66%

ROI of Degree Earner Attending Private College: 20%

3. Nutrition

It’s hard work making sure everyone else eats right, preparing nutritious meals and/or checking to make sure the nation’s food supply is up to snuff. But all that hard work and education necessary to land this job might not turn a huge profit.

DIETICIAN

Median Salary: $53,679

30-Year Earnings: $3,165,985

ROI of Degree Earner Attending Public College: 84%

ROI of Degree Earner Attending Private College: 25%

FOOD SERVICES MANAGER

Median Salary: $56,711

30-Year Earnings: $3,344,813

ROI of Degree Earner Attending Public College: 89%

ROI of Degree Earner Attending Private College: 27%

FOOD SCIENTIST

Median Salary: $64,019

30-Year Earnings: $3,775,838

ROI of Degree Earner Attending Public College: 100%

ROI of Degree Earner Attending Private College: 30%

2. Psychology

We’re starting to notice an unfortunate trend regarding doing work for others with minimal pay. Maybe you can get inside the head of someone influential and find out why workers in this field don’t get paid more for these jobs:

HUMAN SERVICES WORKER

Median Salary: $22,738

30-Year Earnings: $1,341,086

ROI of Degree Earner Attending Public College: 35%

ROI of Degree Earner Attending Private College: 10%

CAREER COUNSELOR – HIGHER EDUCATION

Median Salary: $43,384

30-Year Earnings: $2,558,787

ROI of Degree Earner Attending Public College: 68%

ROI of Degree Earner Attending Private College: 20%

BEREAVEMENT COORDINATOR

Median Salary: $52,200

30-Year Earnings: $3,078,754

ROI of Degree Earner Attending Public College: 81%

ROI of Degree Earner Attending Private College: 24%

1. Communications

You’d think the ink-stained newsrooms and TV studios are full of wealthy and famous journalists. Not quite. Although these skills require lots of education and training, they buried the lead regarding the lack of payoff. Check these communications jobs out:

COPYWRITER

Median Salary: $52,549

30-Year Earnings: $3,099,338

ROI of Degree Earner Attending Public College: 82%

ROI of Degree Earner Attending Private College: 24%

NEWS REPORTER

Median Salary: $37,393

30-Year Earnings: $2,205,438

ROI of Degree Earner Attending Public College: 58%

ROI of Degree Earner Attending Private College: 17%

MARKETING COORDINATOR

Median Salary: $50,455

30-Year Earnings: $2,975,834

ROI of Degree Earner Attending Public College: 79%

ROI of Degree Earner Attending Private College: 23%

Be Prepared

We know money isn’t everything. A lot of people do these jobs and have great and fulfilling careers. But as the cost of education increases, it’s important to know if you’ll get your money’s worth and see a positive ROI. Good luck.

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