The lifetime median return on investment (ROI) for the average bachelor’s degree is 287.7%. In the first 10 years, however, the ROI is -41.1%. Bachelor’s degree holders do not begin to see returns until they’ve worked full-time for 15 years.
| Education Level | 20-Year ROI | Lifetime ROI |
|---|---|---|
| Associate’s Degree | 363.5% | 1,200.8% |
| Bachelor’s Degree | 38.1% | 287.7% |
| Master’s Degree | 90.1% | 433.5% |
| Doctoral Degree | 84.0% | 416.3% |
| Professional Degree | 60.4% | 350.1% |
These data are ideal investment scenarios and as such, are best used for comparative purposes. See Calculating ROI for further details.
Return on Investment by Education Level
In general, the average individual income increases correspondant to one’s education level or educational attainment.
- The difference between a high school diploma and an associate’s degree is a 14.2% increase in earnings.
- Between an associate’s degree and a bachelor’s degree, there is a 39.0% increase in earnings.
- From bachelor’s to master’s, the median annual wage increases 38.8%.
- Between master’s and professional or doctorate degrees, there is a 31.2% to 48.9% earnings increase.
- 87.3% of people who hold a bachelor’s degree or higher participate in the work force.
- Among people with a high school diploma as their highest level of educational attainment, 72.7% participate in the labor force.
Associate’s Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $56,975 | 97.8% |
| 20 Years | $113,546 | 363.5% |
| 30 Years | $236,450 | 720.7% |
| 40 Years | $374,744 | 1,200.8% |
The average ROI for an associate’s degree is based on a starting salary of $39,990 ($4,970 degree-based), with lifetime earnings of $3.02 million, and education expenditures totaling $28,810, including $10,300 in direct costs plus estimates of loan interest and other indirect expenses.
- An associate’s degree has the highest ROI over a lifetime though total lifetime earnings are the lowest among postsecondary degree holders.
- Median earnings among associate’s degree holders are equivalent to 91.2% of the median earnings among all workers.
- The unemployment rate among associate’s degree holders is equivalent to the average unemployment rate.
- 82.1% of associate’s degree holders participate in the work force.
Bachelor’s Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $178,607 | -41.1% |
| 20 Years | $418,640 | 38.1% |
| 30 Years | $741,225 | 144.6% |
| 40 Years | $1,174,752 | 287.7% |
The average ROI for a bachelor’s degree is based on a starting salary of $50,600 ($15,580 degree-based), with lifetime earnings of $3.82 million, and education expenditures totaling $303,034 including $101,124 in direct costs plus estimates of loan interest and other indirect expenses.
- A bachelor’s degree has the lowest ROI among postsecondary degrees at all levels.
- Median earnings among bachelor’s degree holders are equivalent to 126.8% of the median earnings among all workers.
- Bachelor’s degree holders have an estimated unemployment rate of 5.5%.
- The unemployment rate among bachelor’s degree holders is 22.5% lower than the average unemployment rate.
See Bachelor’s Degree ROI by Major for more details.
Master’s Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $150,521 | -18.9% |
| 20 Years | $352,808 | 90.1% |
| 30 Years | $624,665 | 236.6% |
| 40 Years | $990,019 | 433.5% |
The average ROI for a degree is based on a starting salary of $70,240 ($19,640 degree-based), with lifetime earnings of $5.30 million, and degree-earning expenditures totaling $185,557, including $66,340 in direct costs plus estimates of loan interest and other indirect expenses.
- Median earnings among master’s degree holders are equivalent to 150.1% of the median earnings among all workers.
- Master’s degree holders have an estimated unemployment rate of 4.1%.
- The unemployment rate among master’s degree holders is 42.3% below the average unemployment rate.
Doctoral Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $250,944 | -21.5% |
| 20 Years | $588,192 | 84.0% |
| 30 Years | $1,041,426 | 225.7% |
| 40 Years | $1,650,534 | 416.3% |
The average ROI for a doctoral degree is based on a starting salary of $92,130 ($21,890 degree-based), with lifetime earnings of $6.95 million, and degree-earning expenditures totaling $319,704, including $114,300 in direct costs plus estimates of loan interest and other indirect expenses.
- Without the added cost of a master’s degree, $41,530 is the median degree-based annual salary.
- Assuming no master’s degree, the median lifetime ROI for an average doctoral degree is 725.9%.
- Median earnings among doctorate holders are equivalent to 183.2% of the median earnings among all workers.
- The unemployment rate among doctoral degree holders is 64.8% below the average unemployment rate.
Professional Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $393,784 | -31.6% |
| 20 Years | $922,997 | 60.4% |
| 30 Years | $1,634,216 | 184.0% |
| 40 Years | $2,590,033 | 350.1% |
The average ROI for a professional degree is based on a starting salary of $104,590 ($34,350 degree-based), with lifetime earnings of $7.89 million, and degree-earning expenditures totaling $575,479, including $205,744 in direct costs plus estimates of loan interest and other indirect expenses.
- Without the added cost of a master’s degree, $53,990 is the median degree-based annual salary.
- Assuming no master’s degree, the median lifetime ROI for an average doctoral degree is 522.1%.
- Median earnings among professional degree holders are equivalent to 184.0% of the median earnings among all workers.
- The unemployment rate among professional degree holders is 56.3% below the average unemployment rate.
Bachelor’s Degree ROI by Major
The average return on investment for a bachelor’s degree can be vastly different from one major to another. Variations also exist based on the degree holder’s personal circ*mstances, such as age, location, gender, etc.
- The most cost-efficient degrees are in computer and information sciences, with a lifetime ROI of 716.6%.
- Business finance (710.2%), business accounting (547.2%), and electrical engineering (517.8%) also have high returns.
- Despite having a lower ROI, an electrical engineer’s lifetime returns exceed a computer scientist’s by $451,179.06.
- Consumer science and home economics degrees have the lowest lifetime ROI at -70.6%; they lose $223,010.73 apiece.
- Other negative-value degrees include fine art (-67.5%), general studies or liberal arts (-66.4%), and education (-45.0%).
- Fine art degrees cost the most dollars with a lifetime value of -$223,851.44.
Agriculture Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $118,766 | -66.9% |
| 20 Years | $278,377 | -22.5% |
| 30 Years | $492,881 | 37.2% |
| 40 Years | $781,157 | 117.5% |
The average ROI for a bachelor’s degree in agriculture or agricultural business is based on a starting salary of $45,380 ($6,310 degree-based), with lifetime earnings of $3.42 million, and education expenditures totaling $359,166, including $108,176 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds with bachelor’s degrees in agriculture are 89.7% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate among these degree-holders is 40.0% lower than among the rest of the civilian labor force.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.0% majored in agriculture.
- The number of 25- to 29-year-olds with bachelor’s degrees in agriculture increases at an annual rate of 4.1%.
Architecture Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $196,606 | -56.1% |
| 20 Years | $460,827 | 2.8% |
| 30 Years | $815,918 | 82.1% |
| 40 Years | $1,293,132 | 188.6% |
The average ROI for a bachelor’s degree in architecture is based on a starting salary of $52,170 ($13,100 degree-based), with lifetime earnings of $3.93 million, and education expenditures totaling $448,104, including $119,820 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 103.1% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 36.8% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 0.7% majored in architecture.
- The number of 25- to 29-year-olds with bachelor’s degrees in architecture increases at an annual rate of 3.3%.
Art Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $85,979 | -74.1% |
| 20 Years | $201,528 | -39.2% |
| 30 Years | $356,816 | 7.6% |
| 40 Years | $565,509 | 70.5% |
The average ROI for a bachelor’s degree in the arts is based on a starting salary of $42,520 ($3,450 degree-based), with lifetime earnings of $3.21 million, and education expenditures totaling $331,675, including $117,099 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 84.0% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 24.9% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 5.4% majored in art.
- The number of 25- to 29-year-olds with bachelor’s degrees in art increases at an annual rate of 3.9%.
Commercial Art Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $150,406 | -54.7% |
| 20 Years | $352,539 | 6.3% |
| 30 Years | $624,189 | 88.2% |
| 40 Years | $989,265 | 198.3% |
The average ROI for a bachelor’s degree in commercial art or graphic design is based on a starting salary of $48,140 ($9,070 degree-based), with lifetime earnings of $3.63 million, and education expenditures totaling $331,675, including $117,099 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 95.1% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 19.7% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.5% majored in commercial art.
- The number of 25- to 29-year-olds with bachelor’s degrees in commercial art increases at an annual rate of 5.0%.
Fine Art Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $62,822 | -81.1% |
| 20 Years | $147,250 | -55.6% |
| 30 Years | $260,713 | -21.4% |
| 40 Years | $413,199 | 24.6% |
The average ROI for a bachelor’s degree in fine art is based on a starting salary of $40,500 ($1,430 degree-based), with lifetime earnings of $3.05 million, and education expenditures totaling $331,675, including $117,099 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 80.0% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 27.0% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 3.9% majored in fine art.
- The number of 25- to 29-year-olds with bachelor’s degrees in fine art increases at an annual rate of 3.6%.
Biology Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $176,888 | -50.6% |
| 20 Years | $414,610 | -15.8% |
| 30 Years | $734,089 | 105.1% |
| 40 Years | $1,163,441 | 225.0% |
The average ROI for a bachelor’s degree in biology is based on a starting salary of $50,450 ($11,380 degree-based), with lifetime earnings of $3.80 million, and education expenditures totaling $357,988, including $103,362 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 99.7% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 18.4% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 6.6% majored in biology.
- The number of 25- to 29-year-olds with bachelor’s degrees in biology increases at an annual rate of 5.8%.
Business Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $174,710 | -28.3% |
| 20 Years | $409,505 | 68.0% |
| 30 Years | $725,049 | 197.4% |
| 40 Years | $1,149,115 | 371.3% |
The average ROI for a bachelor’s degree in business is based on a starting salary of $50,260 ($11,190 degree-based), with lifetime earnings of $3.79 million, and education expenditures totaling $243,824, including $83,020 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 99.3% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 27.2% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 3.7% majored in .
- The number of 25- to 29-year-olds with bachelor’s degrees in increases at an annual rate of 2.5%.
Business Accounting Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $286,368 | 17.4% |
| 20 Years | $671,222 | 175.3% |
| 30 Years | $1,188,434 | 387.4% |
| 40 Years | $1,883,523 | 672.5% |
The average ROI for a bachelor’s degree in business accounting is based on a starting salary of $60,000 ($20,930 degree-based), with lifetime earnings of $4.52 million, and education expenditures totaling $243,824, including $83,020 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 118.6% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 20.1% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 2.8% majored in business accounting.
- The number of 25- to 29-year-olds with bachelor’s degrees in business accounting increases at an annual rate of 2.1%.
Business Finance Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $346,782 | 42.2% |
| 20 Years | $812,829 | 233.4% |
| 30 Years | $1,439,156 | 490.2% |
| 40 Years | $2,280,888 | 835.5% |
The average ROI for a bachelor’s degree in business finance is based on a starting salary of $65,270 ($26,200 degree-based), with lifetime earnings of $4.92 million, and education expenditures totaling $243,824, including $83,020 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 129.0% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 29.1% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 2.3% majored in business finance.
- The number of 25- to 29-year-olds with bachelor’s degrees in business finance increases at an annual rate of 1.3%.
Communications Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $120,944 | -53.0% |
| 20 Years | $283,482 | 10.2% |
| 30 Years | $501,921 | 95.1% |
| 40 Years | $795,483 | 209.3% |
The average ROI for a bachelor’s degree in communications is based on a starting salary of $45,570 ($6,500 degree-based), with lifetime earnings of $3.09 million, and education expenditures totaling $257,218, including $92,693 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 90.1% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 11.6% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 5.5% majored in communications.
- The number of 25- to 29-year-olds with bachelor’s degrees in communications increases at an annual rate of 2.5%.
Computer Science Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $402,611 | 40.3% |
| 20 Years | $943,688 | 228.9% |
| 30 Years | $1,670,849 | 482.4% |
| 40 Years | $2,648,092 | 823.0% |
The average ROI for a bachelor’s degree in computer and information science is based on a starting salary of $70,140 ($31,070 degree-based), with lifetime earnings of $5.29 million, and education expenditures totaling $286,902, including $90,751 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 138.6% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 90.8% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 3.8% majored in computer science.
- The number of 25- to 29-year-olds with bachelor’s degrees in computer science increases at an annual rate of 3.1%.
Consumer Science Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $60,529 | -80.8% |
| 20 Years | $141,876 | -55.1% |
| 30 Years | $251,198 | -20.4% |
| 40 Years | $398,119 | 26.1% |
The average ROI for a bachelor’s degree in (family) consumer science or home economics is based on a starting salary of $40,300 ($1,230 degree-based), with lifetime earnings of $3.04 million, and education expenditures totaling $315,755, including $116,030 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 79.6% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 7.9% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 0.9% majored in consumer science.
- The number of 25- to 29-year-olds with bachelor’s degrees in consumer science increases at an annual rate of 5.0%.
Education Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $74,401 | -77.7% |
| 20 Years | $174,389 | -47.8% |
| 30 Years | $308,764 | -7.6% |
| 40 Years | $489,354 | 46.4% |
The average ROI for a bachelor’s degree in education is based on a starting salary of $41,510 ($2,440 degree-based), with lifetime earnings of $3.13 million, and education expenditures totaling $334,312, including $112,587 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 82.0% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 57.7% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 6.6% majored in .
- The number of 25- to 29-year-olds with bachelor’s degrees in education decreases at an annual rate of 0.8%.
Engineering Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $387,938 | -19.9% |
| 20 Years | $1,174,773 | 87.8% |
| 30 Years | $2,079,997 | 249.5% |
| 40 Years | $3,296,543 | 427.0% |
The average ROI for a bachelor’s degree in general engineering is based on a starting salary of $68,860 ($29,790 degree-based), with lifetime earnings of $ million, and education expenditures totaling $484,174, including $172,789 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 136.1% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 18.7% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.1% majored in general engineering.
- The number of 25- to 29-year-olds with bachelor’s degrees in engineering increases at an annual rate of 5.5%.
Civil Engineering Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $348,502 | -28.0% |
| 20 Years | $816,859 | 68.7% |
| 30 Years | $1,446,293 | 198.7% |
| 40 Years | $2,292,198 | 373.4% |
The average ROI for a bachelor’s degree in civil engineering is based on a starting salary of $65,420 ($26,350 degree-based), with lifetime earnings of $4.93 million, and education expenditures totaling $484,174, including $172,789 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 129.3% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 64.9% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.0% majored in civil engineering.
- The number of 25- to 29-year-olds with bachelor’s degrees in civil engineering increases at an annual rate of 5.6%.
Electrical Engineering Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $501,201 | 3.5% |
| 20 Years | $1,174,773 | 142.6% |
| 30 Years | $2,079,997 | 329.6% |
| 40 Years | $3,296,543 | 580.9% |
The average ROI for a bachelor’s degree in electrical engineering is based on a starting salary of $78,740 ($39,670 degree-based), with lifetime earnings of $5.94 million, and education expenditures totaling $484,174, including $172,789 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 155.6% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 35.4% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.5% majored in electrical engineering.
- The number of 25- to 29-year-olds with bachelor’s degrees in electrical engineering increases at an annual rate of 4.8%.
Engineering Technologies Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $292,902 | -16.8% |
| 20 Years | $686,538 | 95.1% |
| 30 Years | $1,215,552 | 245.4% |
| 40 Years | $1,926,502 | 447.4% |
The average ROI for a bachelor’s degree in engineering technologies is based on a starting salary of $60,570 ($21,500 degree-based), with lifetime earnings of $4.57 million, and education expenditures totaling $351,960, including $131,348 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 119.7% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 76.7% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 0.6% majored in engineering technologies.
- The number of 25- to 29-year-olds with bachelor’s degrees in engineering technologies increases at an annual rate of 2.5%.
English Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $110,283 | -59.0% |
| 20 Years | $258,493 | -3.9% |
| 30 Years | $457,675 | 70.2% |
| 40 Years | $725,360 | 169.8% |
The average ROI for a bachelor’s degree in english is based on a starting salary of $44,640 ($5,570 degree-based), with lifetime earnings of $3.37 million, and education expenditures totaling $268,865, including $93,689 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 88.2% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 50.6% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 2.6% majored in English language and literature.
- The number of 25- to 29-year-olds with bachelor’s degrees in English increases at an annual rate of 1.0%.
Fitness Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $120,141 | -61.7% |
| 20 Years | $281,602 | -10.3% |
| 30 Years | $489,590 | 58.8% |
| 40 Years | $790,205 | 151.7% |
The average ROI for a bachelor’s degree in physical fitness is based on a starting salary of $45,500 ($6,430 degree-based), with lifetime earnings of $3.43 million, and education expenditures totaling $313,911, including $98,078 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 89.9% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 26.9% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 2.4% majored in fitness.
- The number of 25- to 29-year-olds with bachelor’s degrees in fitness increases at an annual rate of 11.5%.
General Studies or Liberal Arts Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $60,185 | -77.7% |
| 20 Years | $141,069 | -47.6% |
| 30 Years | $249,771 | -7.3% |
| 40 Years | $395,857 | 47.0% |
The average ROI for a bachelor’s degree in general studies or liberal arts (typically used synonymously) is based on a starting salary of $40,270 ($1,200 degree-based), with lifetime earnings of $3.04 million, and education expenditures totaling $269,375, including $77,548 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 79.6% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 57.6% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.1% majored in general studies or liberal arts.
- The number of 25- to 29-year-olds with bachelor’s degrees in general studies increases at an annual rate of 2.2%.
Health or Health Science Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $227,214 | -40.4% |
| 20 Years | $532,571 | 39.6% |
| 30 Years | $942,945 | 147.2% |
| 40 Years | $1,494,453 | 291.7% |
The average ROI for a bachelor’s degree in health or health science is based on a starting salary of $54,840 ($15,770 degree-based), with lifetime earnings of $4.14 million, and education expenditures totaling $381,483, including $127,046 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 108.4% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 32.4% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 8.4% majored in health or health science.
- The number of 25- to 29-year-olds with bachelor’s degrees in health increases at an annual rate of 10.0%.
General Medical or Health Services Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $174,824 | -54.2% |
| 20 Years | $409,773 | 7.4% |
| 30 Years | $725,525 | 90.2% |
| 40 Years | $1,149,869 | 201.4% |
The average ROI for a bachelor’s degree in general medical or health services is based on a starting salary of $50,270 ($11,200 degree-based), with lifetime earnings of $3.79 million, and education expenditures totaling $381,483, including $127,046 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 99.3% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 22.7% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 4.2% majored in general medical or health services.
- The number of 25- to 29-year-olds with bachelor’s degrees in general medical or health services increases at an annual rate of 8.9%.
Nursing Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $271,350 | -28.9% |
| 20 Years | $409,773 | 66.7% |
| 30 Years | $1,126,110 | 195.2% |
| 40 Years | $1,784,748 | 201.4% |
The average ROI for a bachelor’s degree in nursing is based on a starting salary of $58,690 ($19,620 degree-based), with lifetime earnings of $4.43 million, and education expenditures totaling $381,483, including $127,046 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 116.0% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 41.6% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 4.2% majored in nursing.
- The number of 25- to 29-year-olds with bachelor’s degrees in nursing increases at an annual rate of 11.1%.
Interdisciplinary Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $146,050 | -62.2% |
| 20 Years | $342,329 | -11.4% |
| 30 Years | $606,111 | 56.8% |
| 40 Years | $960,612 | 148.5% |
The average ROI for a bachelor’s degree in interdisciplinary studies is based on a starting salary of $47,760 ($8,690 degree-based), with lifetime earnings of $3.60 million, and education expenditures totaling $386,573, including $107,917 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 94.4% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 64.5% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.2% majored in interdisciplinary studies.
- The number of 25- to 29-year-olds with bachelor’s degrees in interdisciplinary studies increases at an annual rate of 10.2%.
Language Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $118,651 | -61.2% |
| 20 Years | $278,108 | -9.1% |
| 30 Years | $492,406 | 61.0% |
| 40 Years | $780,403 | 155.1% |
The average ROI for a bachelor’s degree in language(s) or linguistics is based on a starting salary of $45,370 ($6,300 degree-based), with lifetime earnings of $3.42 million, and education expenditures totaling $305,901, including $105,939 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 89.7% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 27.0% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.0% majored in language or linguistics.
- The number of 25- to 29-year-olds with bachelor’s degrees in language increases at an annual rate of 2.6%.
Mathematics Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $224,004 | -31.6% |
| 20 Years | $525,047 | 60.4% |
| 30 Years | $929,624 | 184.0% |
| 40 Years | $1,473,341 | 350.0% |
The average ROI for a bachelor’s degree in mathematics is based on a starting salary of $54,560 ($15,490 degree-based), with lifetime earnings of $4.11 million, and education expenditures totaling $327,379, including $101,615 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 107.8% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 13.9% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 1.4% majored in mathematics.
- The number of 25- to 29-year-olds with bachelor’s degrees in mathematics increases at an annual rate of 5.9%.
Philosophy Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $158,431 | -44.4% |
| 20 Years | $371,349 | 30.3% |
| 30 Years | $657,492 | 130.8% |
| 40 Years | $1,042,045 | 265.8% |
The average ROI for a bachelor’s degree in philosophy or religious studies is based on a starting salary of $48,840 ($9,770 degree-based), with lifetime earnings of $3.68 million, and education expenditures totaling $284,903, including $92,924 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 96.5% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 5.5% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 0.5% majored in philosophy or religious studies.
- The number of 25- to 29-year-olds with bachelor’s degrees in philosophy declines at an annual rate of 2.2%.
Physical Science Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $143,872 | -65.2% |
| 20 Years | $337,223 | -18.4% |
| 30 Years | $597,071 | 44.5% |
| 40 Years | $946,286 | 129.0% |
The average ROI for a bachelor’s degree in the physical sciences is based on a starting salary of $47,570 ($8,500 degree-based), with lifetime earnings of $3.59 million, and education expenditures totaling $413,304, including $128,027 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 94.0% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 17.0% lower than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 2.8% majored in physical science.
- The number of 25- to 29-year-olds with bachelor’s degrees in physical science increases at an annual rate of 3.2%.
Psychology Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $73,369 | -73.8% |
| 20 Years | $171,970 | -38.6% |
| 30 Years | $304,483 | 8.7% |
| 40 Years | $482,568 | 72.3% |
The average ROI for a bachelor’s degree in psychology is based on a starting salary of $41,420 ($2,350 degree-based), with lifetime earnings of $3.12 million, and education expenditures totaling $280,092, including $87,986 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 81.9% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate is 8.4% higher than unemployment among bachelor’s degree holders in general.
- Among all 25- to 29-year-old with bachelor’s degrees, 6.1% majored in psychology.
- The number of 25- to 29-year-olds with bachelor’s degrees in psychology increases at an annual rate of 3.9%.
Public Administration Degree Return on Investment
| Time | Degree-Based Earnings | ROI |
|---|---|---|
| 10 Years | $170,009 | -45.5% |
| 20 Years | $398,488 | 27.9% |
| 30 Years | $705,543 | 126.4% |
| 40 Years | $1,118,201 | 258.8% |
The average ROI for a bachelor’s degree in public administration or public policy is based on a starting salary of $49,850 ($10,780 degree-based), with lifetime earnings of $3.76 million, and education expenditures totaling $311,667, including $99,781 in direct costs plus loan interest and indirect expenses.
- Median earnings among 25- to 29-year-olds are equivalent to 98.5% of the median earnings among all bachelor’s degree holders in this age group.
- The unemployment rate among bachelor’s degree holders in general is undetermined due to insufficient data.
- Among all 25- to 29-year-old with bachelor’s degrees, 0.2% majored in public administration or public policy.
- The number of 25- to 29-year-olds with bachelor’s degrees in public administration increases at an annual rate of 5.5%.
Calculating ROI
In this context, return on investment or ROI refers to the lifetime cost of a degree against the lifetime earnings dependent upon that degree.
Calculated earnings assume an average 3% annual raise. Degree-based earnings exclude the median earnings of the next education level down; for example, bachelor’s degree-based earnings are calculated by excluding the median earnings of the average high school graduate (or equivalent), which is $39,070; among employees with diplomas and some amount college credit, the median annual income is $43,850 (this value does not feature in our calculations).
Among master’s, professional, and doctoral degree holders, the calculated cost of their degree does not include the cost of prerequisite degrees. Only the cost of a bachelor’s degree factors in the average student loan interest debt; with all other degrees, this and other indirect costs are estimates.
The calculated cost of a bachelor’s degree is based on the average annual cost of attendance multiplied by four (4). That cost is then multiplied according to the comparative spending rates among college majors. Investing in a degree includes interest. See our report on the Average Cost of College and other related reports, such as the Average Cost of a Master’s Degree and the Average Cost of a Doctorate, for detailed cost breakdowns.
Lifetime student loan interest is calculated based on 10 years of loan payments at the current undergraduate federal loan rate of 3.73%.
Note that many students take six (6) years to earn their bachelor’s degree. Furthermore, the average student borrower spends a little more than 20 years repaying their student loan debt.
These figures also do not take into account potential income lost in pursuit of a degree or potential income from investments. Over four (4) years, a high school graduate earns a median $156,280 while a graduate with some college earns $175,400.
