Liberal arts education more valuable than you think

As college costs rise and student debt increases, parents and students have grown increasingly concerned about employability. But recent studies show that the persistent association of only science, technology, engineering, math and pre-professional degrees with “lucrative” salaries is misleading in several ways (“More USC students focusing on majors that promise lucrative futures,” Aug. 18).

Research by the Brookings Group and Georgetown University suggests that a chief factor predicting lifetime earnings is not so much the major as the fact of earning a college degree. Earning a bachelor’s degree in any field pays off compared to earning only a high school or an associate degree. While no major can promise a lucrative future, a college degree can make a significant financial difference.

The evidence also suggests that income is rarely determined by major alone but by a variety of factors, including job location and levels of ambition, effort and proficiency. Well-paying jobs go to high-performing students who demonstrate the skills needed for success: problem solving, critical thinking, analytical reasoning and the ability to communicate effectively.

Career paths for liberal arts majors may be less straightforward and predictable than they are for pre-professional majors, but they can be equally rewarding. Although college graduates with liberal arts degrees may earn less coming out of the gate, their salaries rise much more after 10 years on the job as a rule. In fact, according to a study by PayScale Inc., the mid-career median salaries for degrees in disciplines such as history, international relations, philosophy and political science can be as high as or higher than those in some science, technology, engineering, math and business fields. Both students and their parents need to consider more than merely starting salaries when seeking to determine which majors offer the biggest financial awards.

Finally, it’s important to remember that there is more to life than lucre. As the Hamilton project reminds us, “Personal enjoyment, engaging in meaningful work, and filling a social need should all also enter into a student’s decision-making.” A good life, along with a good living, can result from a wide range of degrees and careers rather than only a select few.

This story was originally published August 29, 2016 at 5:00 PM.