Students who major in engineering are among the highest paid graduates. Four of the five most highly paid majors for the class of 2010 were engineering degrees, according to a National Association of Colleges and Employers 2010 Salary Survey. Engineering majors also have a wide variety of specialties from which to choose.
Chemical engineers take raw materials and create and work with chemical products and more, while computer engineers create computer hardware and software, according to Michigan State University. Electrical engineers, this same institution notes, design, develop and test electrical equipment. Petroleum engineers work with the earth, producing oil and gas and other resources from it, according to the University of Texas at Austin web site.
Petroleum, chemical, computer and electrical engineering majors, depending upon area of specialty, in 2010 were offered starting salaries of between $49,381 and $74,799 that were among the four highest, the 2010 Salary Survey Shows. These offers were high, because the supply of engineers might not be meeting the demand, a news release quote from a National Association of Colleges and Employers representative suggests. Of more than 1.5 million degrees awarded in 2008, only 5.4 percent of them were engineering degrees, according to the association. Chemical engineer starting salaries in 2010 were 1.1 percent higher than those for July 2009, the rest were lower, with petroleum engineers seeing the largest decline, at 10 percent.
Students have many other engineering majors from which to choose, and some of these fields are expected to experience labor market growth. Civil engineers who, according to the Michigan State University web site, plan, design and assist in operating water resources, urban development and transportation and environmental systems, in 2008 held the most engineering jobs, according to the Bureau of Labor Statistics. These engineers should see the largest employment increases into 2010-11, the agency notes. Biomedical engineers, according to North Carolina State University, solve problems related to medical care and work for hospitals, pharmaceutical companies, medical schools and more, and should see the quickest employment growth into the next decade, according to the Bureau of Labor Statistics.
The solid investment an engineering degree provides isn't new. In 2007, author and MSN Money columnist Liz Pullman Weston used U.S. Census information to come up with rough income increase estimates and compared these estimates with the cost of a college, university or technical school education. She too cited engineering degrees as giving graduates the biggest payoff. Students can expect to pay varying tuition and fees depending upon whether they choose two- or four-year institutions and whether colleges, universities and technical schools are private or public, the College Board notes. Financial aid also plays a role, according to the College Board. Students who plan to enter engineering fields might plan at least to obtain a bachelor's degree, the Bureau of Labor Statistics notes.
After grants and financial aid are taken into account, students might expect to pay $7,020 a year in tuition and fees at public four-year colleges in the states where they live, a College Board report shows. At public colleges outside of the states where they live, they might otherwise pay $11,528 in annual tuition and fees after scholarships and financial assistance, the College Board report notes. Private four-year institutions tend to cost more but might offer more financial incentives, with annual tuition and fees after assistance is considered at about $26,274, according to the College Board. Students who enroll in online college, university and technical school programs can save additional costs, such as room and board and commuting.
US News & World Report, as part of its 2010 America's best colleges edition, breaks engineering programs down by area of specialty and whether schools offer doctoral degrees as well as undergraduate and master's degrees. Administrators and senior faculty members who know about different programs provide the publication with rankings. Colleges, universities and technical schools that extend into the doctoral level tend to offer the widest variety of engineering programs, according to US News & World Report.
Students interested in scholarships, fellowships and grants for college, university and technical school programs in engineering, including online education programs, might look toward the Engineering Service Center web site. Because of a shortage of women and minorities in the field, representatives of these demographic groups might find tuition assistance tailored especially to them. Oregon State University works to encourage women and minorities to participate in its engineering degree programs, according to its web site. To receive financial assistance outside of colleges, universities and technical schools, students often must enroll in institutions that are accredited by a nationally recognized agency. The US Department of Education maintains a list of nationally recognized accredited institutions on its web site which allow you to get your college degree.
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