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If you aim to earn $100,000 a year within the first five years of taking your first job, congratulations — you have very lofty ambitions. Most of your peers earn way less than that. According to the U.S. Bureau of Labor Statistics, the median earnings for full-time American workers ages 25 to 34 were $1,056 a week or $54,912 a year during the 2024 first quarter. Median earnings across all age groups were $1,139 a week or $59,228 a year.
The reality is that most Americans never earn $100,000 a year, let alone those starting out in their first jobs. A recent analysis from Credit.com found that fewer than one-fifth (18%) of full-time workers earn six-figure incomes. That doesn’t mean you can’t earn that much. But you have to be in the right field.
Credit.com noted that having a higher education degree in certain disciplines can create more opportunities to earn a six-figure salary after college. Postgraduate degrees in Science, Technology, Engineering, and Mathematics (STEM) are often needed for high-paying occupations.
The best move you can make is to pursue an advanced engineering degree. The technical knowledge, mathematical proficiency and problem-solving abilities required in engineering are “valuable across many industries,” CNBC reported. Because these skills are in high demand, employers are willing to pay a premium for workers with them.
What’s more, you don’t need a ton of experience to earn a high salary in these occupations. You will make well above the median wage when you graduate and get hired.
Here’s a look at seven degrees/occupations that pay an average of $70,000 or more a year during your first five years after college, according to Federal Reserve data cited by CNBC:
- Computer Engineering: $80,000
- Chemical Engineering: $79,000
- Computer Science: $78,000
- Aerospace Engineering: $74,000
- Electrical Engineering: $72,000
- Industrial Engineering: $71,000
- Mechanical Engineering: $70,000
Keep in mind that these are averages, which means that some of those surveyed earn much higher salaries — including $100,000 or more — and some earn much lower salaries.
You don’t necessarily need to be an engineer to earn a high salary early in your career. Other jobs with high salaries and a non-engineering bachelor’s degree include software developer, financial analyst, marketing manager, registered nurse, and human resources manager.
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Source: 7 Best First Jobs If You Want To Make $100K in 5 Years
