Choosing to study engineering is a smart choice for long-term earning potential, according to a new ranking of degree majors in the United States.

All but one of the top 10 degrees ranked by mid-career salary are in an engineering discipline, with petroleum engineering coming out on top thanks to a median salary of $172,000 10 years after graduation.

Actuarial science is the only degree outside engineering where at least half of graduates will earn more than $115,000 after 10 years.

Graduates of computer science, mathematics and physics can also count on high earning potential, while graduates of government studies ultimately earn a similar salary to STEM graduates after 10 years, despite only earning an average salary of less than $50,000 in the first five years of work.

The 2016-2017 PayScale College Salary Report also reveals the proportion of alumni of each degree major who say that their work is meaningful or makes the world a better place.

Unsurprisingly, the degrees most conducive to a meaningful career are medical research and pastoral ministry; for both degrees, 93 per cent of alumni say that their work improves the world.

Most of the degrees that lead to meaningful careers for a majority of graduates are within the medical and health field or child education, including music teaching, child development and special education.

However, some of these education degrees – such as child development, early childhood and elementary education – are ranked the lowest for mid-career salary, with median salaries of less than $42,000.

The ranking was compiled using data from 983 colleges in the United States and 1.4 million graduates working full-time in the United States.

Best college degrees for earning a high salary