Here is a shot taken from the article:
Taking lagging data from the National Occupational Employment and Wage Estimates (NOEWE)
United States produced by the Bureau of Labor Statistics, I produced the following table that calculates the internal rate of return based on the data from MarketWatch and the NOEWE.
No one should be surprised. Science, technology, engineering and math (STEM) fields produce the far better returns than other fields.
Elsewhere, Berman revealed that STEM grads from top-tier schools don’t earn much more than graduates from schools that with easier admissions at least according to Michael Hilmer, an economist at San Diego State University, and Eric Eide and Mark Showalter, economists at Brigham Young University (You Don’t Need an Ivy League Degree to Make a Lot of Money in These Fields).
Yet in another work, Berman pointed out which majors are dying based on declining numbers of students matriculating in particular fields.
Higher education is in need of a major overhaul, especially at public schools. No one should be forced to pay taxes to any state legislature or to Congress to fund those bodies subsidizing individuals college educations where the returns are not at least break even.
Most public universities should have pivoted long ago to STEM and business. Maybe at most there is need for one or two public liberal arts and fine arts colleges within each state. As well, the social sciences need to get consolidated and culled. The oversight bodies of some fields such as anthropology have left science and the scientific method altogether.
Gab It
