It's no secret that earning a college degree in America can be expensive. More than 44 million Americans have taken out student loans to pay for school and their debt totals $1.4 trillion. The average debt load for 20-year-olds is $22,135. For 30-year-olds, it's $34,033.
So, according to a report from financial-advice website Moneyish and compensation site PayScale, paying even more for a master's degree can be a risk: "The average debt of a person with a Master of Arts degree hit an inflation-adjusted $59,000, up from $38,000 in 2004."
These numbers don't mean you shouldn't pursue your dream major or dream job. But it may help to know that there are certain fields where students tend to earn more money after graduating.
Based on the report, here are the top five best Master's degree majors to choose if you want a high-paying job:
Nurse Anesthesia
Early-career median pay: $143,000
Mid-career median pay: $165,000
Telecommunications Engineering
Early-career median pay: $76,200
Mid-career median pay: $141,000
Finance and Economics
Early-career median pay: $68,000
Mid-career median pay: $134,000
Electrical Engineering
Early-career median pay: $80,600
Mid-career median pay: $130,000
Computer Engineering
Early-career median pay: $86,400
Mid-career median pay: $129,000
And here are their top five worst master's degree majors to choose if you want a high-paying job:
Human Services
Early-career median pay: $39,500
Mid-career median pay: $46,600
Early Childhood Education
Early-career median pay: $40,600
Mid-career median pay: $49,200
Professional Counseling
Early-career median pay: $40,400
Mid-career median pay: $51,200
Community Counseling
Early-career median pay: $40,900
Mid-career median pay: $51,700
Museum Studies
Early-career median pay: $41,000
Mid-career median pay: $52,700
This is an update of a previously published story.
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