New Fed data spotlights the degrees most likely to keep entry‑level paychecks stuck below the national median.
You worked hard for that diploma—but is it going to cover the rent? A fresh analysis from the Federal Reserve Bank of New York, using 2023 wage data, reveals that ten popular majors send full‑time graduates into the labor market earning less than the U.S. median wage of $48,060. Engineering majors may clear $80,000 out of the gate, yet many education, social work and arts graduates hover closer to $40,000.
Early‑career salaries matter because they shape lifetime earnings, student‑loan repayment and even the ability to build credit. According to the Fed, the median across all majors sits at $50,000—but the groups below fall well short.
Which college majors leave graduates earning the smallest early‑career paychecks
- Early childhood education
- Family and consumer sciences
- Social work
- Theology and religious vocations
- Performing arts
- General education
- Leisure and hospitality management
- Fine arts
- Psychology
- Foreign languages
Most majors on this list cluster in the low‑$40,000 range for workers aged 22‑27, with early childhood education trailing the pack at roughly $39,000. That means thousands of graduates start their professional lives making almost 20 percent less than the national benchmark. Ouch.
Table 1 – early‑career salary snapshot
| Major | Approx. median pay (age 22‑27) |
|---|---|
| Early childhood education | $39,000 |
| Social work | $40,500 |
| Performing arts | $41,500 |
| Fine arts | $43,000 |
Figures rounded from Federal Reserve Bank of New York 2023 report.
Why the gap? Demand drives dollars. High‑paying industries—technology, finance, engineering—snap up technical talent, while roles tied to liberal arts often sit in education or public service, sectors historically strapped for wage growth.
Mid‑career outlook shows limited growth for many liberal arts degrees
Think low starting pay is temporary? Unfortunately, the same Fed dataset shows that by ages 35‑45 several of these majors still lag. Early childhood education alumni move up to only about $49,000—barely $8,000 more than they earned five years after graduation. Meanwhile, their engineering peers commonly break six figures. Consequently, the early gap tends to widen, not close.
How prospective students can weigh passion against paycheck before declaring majors? No one is saying don’t study art or teach preschool—society needs those skills. Still, it pays to enter college with eyes wide open. Ask yourself: Will my future salary comfortably handle tuition loans? If not, consider pairing a passion major with a marketable minor, seeking internships in higher‑paying niches, or comparing in‑state public tuition to pricier private options.
First‑generation students, in particular, may want to tap campus career centers early and often. A degree remains a valuable asset, but the field you choose shapes the first—and sometimes the next—decade of earnings. Students who prize financial security should factor hard wage data into their decision‑making, just as carefully as they weigh personal interests. After all, the cost of learning doesn’t end at graduation day.