Math Majors Solve Employers Problems

With students packing up to go back to college this month with declared or undeclared majors, it’s a good time to consider the fields that graduating students are going into and whether they match up with the skills businesses need. Do the math.

Students in Distress

Student loan debt ballooned during the Great Recession, and student loan default rates have nearly doubled since 2007. One leading explanation for the rising default rates has been the growth of “non-traditional” borrowers attending community colleges and for-profit institutions. The tendency of these borrowers to be older, from less-wealthy families, complete programs at lower rates, and have weaker labor market outcomes (employment and earnings) all contribute to higher default rates.

What Does Your Degree Do For You?

If your accounting degree landed you a job as a financial analyst in the Richmond metro area, Virginia, do you know what that gets you? Well, for starters, your entry-level wages are somewhere around $55,000 per year. The average worker earns $83,000 per year and experienced workers earn $111,000 per year. About 45% of all accountants in the Richmond metro area have a bachelor’s degree while 38% have their masters.

What to do and where to live? Intersecting education, earnings, purchasing power, and return on investment: Part I

Few would debate that there will be an abundance of attractive employment opportunities in health-related industries for the foreseeable future. Chmura Economics & Analytics forecasts an average annual employment growth rate of 1.9% through 2026 for the healthcare and social assistance sector, which is more than three times the average annual growth rate of all industries (0.6%) in the nation. The ambulatory healthcare services industry alone is forecast to grow at an annual rate of 3.1%!