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The Benefits of Majoring in Economics
Although many graduates don't end up working in the field they have majored in, it generally pays to major in a discipline that challenges your intellect. Smart students who major in a tough subject are more likely to end up in high-paying careers than students who major in a discipline that is less challenging. A study by Daniel Hecker, an economist for the Bureau of Labor Statistics, looked at the annual earnings of men and women aged 35 to 44 who had full-time jobs in 1993, and he found that for women a degree in economics paid off handsomely.
In its annual salary survey (based on data from the Bureau of Labor Statistics), Parade Magazine (March 13, 2005) reported the following starting salaries for the 2004 graduating class according to majors:
| Major |
Average Salary Offer |
| Computer Engineering |
$51,572 |
| Economics |
$40,906 |
| Business |
$38,188 |
| English |
$31,169 |
| Psychology |
$27,791 |
Source: Bureau of Labor Statistics
Among the most important factors found in a resume "academic majors" and "internships" topped the list. "Leadership experience" and "grade point average" ranked third and fourth.
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