Why Skip Grad School? The Value of a Bachelor’s-Only Career Path
If you’re interested in the highest paying college majors, read on. These college majors lead to high-paying jobs even without a graduate degree. Then, we’ll also discuss how to maximize your earnings and find affordable programs.
Why skip graduate school and instead enter the workforce right after graduation? Here are the significant advantages that you should consider.
Lower cost of education
Did you know that it can cost an average of $44,640 – $71,140 to earn a master’s degree? This is on top of the average cost of college of $38,270/student/year (EDI, 2025). So, you can spend almost $200,000 on a bachelor’s and master’s degree.
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But if you stop at a bachelor’s degree, you can avoid the cost of a graduate degree. The trick here is to choose a high-value bachelor’s degree in the first place.
Faster entry into the workforce
There’s no need to wait another two years to earn a full-time salary. You’ll then enjoy more years of income and a head start on promotions.
Avoid student loan debt from a master’s degree.
Master’s degree holders owe $69,140 in average student loan debt. But if you skip graduate school, you don’t have to add to your student loan debt. You’re more likely to achieve financial independence earlier.
Indeed, choosing a high-value college major is the foundation of a successful career. You’ll enjoy the best value for your money and a good return on investment (ROI). Doing so also means greater job market and career flexibility.
Methodology – How We Determined the Highest Paying Majors
We used these key factors to ensure an authoritative and transparent ranking.
- Salary data analysis from reliable sources, including the:
- Bureau of Labor Statistics (BLS) for its job growth projections and national median wages
- PayScale for its self-reported average salaries, classified by major and job title
- National Association of Colleges and Employers (NACE) for its yearly report on starting salaries
- Starting salary thresholds of $60,000/year or more without a post-bachelor’s degree
- Favorable employment outlook, which signals long-term stability and growth
By considering these factors, we came up with the highest paying bachelor’s degrees. Choose from among these degrees and earn well after college without a graduate degree.
Top 10 Highest Paying College Majors Without Grad School
Petroleum Engineering
Students prepare for the challenges of the oil and natural gas industry. Their studies cover the exploration, extraction, and production of these resources. Besides their didactic courses, students also gain practical experience through internships.
This is among the highest-paying college majors that don’t require grad school. BLS reports median wages of $141,280/year.
Graduates can go directly into the business, so to speak. There are global opportunities, too, in the Middle East, South America, and West Africa. Skills are also applicable to the renewable energy industry (i.e., versatile degree).
- Average Starting Salary: $90,000 – $100,000/year
- Common Career Paths: Petroleum engineer, production engineer, drilling engineer, or reservoir engineer
- Job Outlook: 2% increase (2023-2033). Strong demand, but cyclical and volatile
- Recommended Programs: University of Texas at Austin and Colorado School of Mines
Computer Engineering
A computer engineering degree combines computer science and electrical engineering education. Students learn about computer systems (i.e., hardware and software). Their education enables them to design, develop, and optimize computer systems.
Graduates have versatile skills with applications across diverse industries. After all, almost every industry uses computer systems in its operations.
Such is their high demand that theirs is among the high salary jobs with bachelor’s degree only. Median wages are $155,020/year (BLS, May 2024).
- Average Starting Salary: $92,300 – $94,300/year
- Common Career Paths: Hardware and software computer engineers
- Job Outlook: 7% (2023-2033). Exceptional job demand across diverse industries
- Recommended Programs: California State University and the University of Florida
Chemical Engineering
Students in chemical engineering programs study chemistry, biology, and engineering, among others. Their studies prepare them for careers in pharmaceuticals, chemical process industries, and more.
Chemical engineering is among the best paying degrees without graduate school, too. Median wages are $121,860/year (BLS, May 2024).
- Average Starting Salary: $71,400 – $104,400/year
- Common Career Paths: chemical engineer, process engineer, or project engineer
- Job Outlook: 10% (2023-2033) Strong demand in the pharmaceuticals, manufacturing, and energy industries
- Recommended Programs: University of Alabama and University of Wisconsin–Madison
Electrical Engineering
Students focus on the study, design, and applications of electrical systems and electronics. Their skills include circuit design and analysis, programming, and hardware-software integration. Problem-solving and critical thinking skills are their strong suits, too.
Electrical engineering is among the top earning majors after college, too. BLS reports median wages of $118,780/year, but the highest earners can take in over $175,460/year.
- Average Starting Salary: $65,000 – $68,000/year
- Common Career Paths: Electrical engineer, hardware engineer, systems engineer, or controls engineer
- Job Outlook: 9% (2023-2033) Stable demand with versatile skills applicable across diverse industries
- Recommended Programs: Texas A&M University and Georgia Tech
Aerospace Engineering
An aerospace engineering degree program prepares students for diverse careers. Students study the design, development, and production of aircraft and other systems. The curriculum combines mechanical and systems engineering, aerodynamics, and materials science.
The combo of an aerospace engineering bachelor’s degree high starting salary is common. Aerospace engineers earn $134,830/year, on average. The highest earners can take in more than $205,850/year.
- Average Starting Salary: $70,000 – $75,000/year
- Common Career Paths: Aerospace engineer, flight test engineer, design engineer, or propulsion engineer
- Job Outlook: 6% (2023-2033) Steady demand driven by aviation, defense, and space industries
- Recommended Programs: Purdue University and Embry‑Riddle University
Actuarial Mathematics/Actuarial Science
This is a specialized field where practitioners assess and manage risks. Students become proficient in mathematics, statistics, and financial theory. These skills are a must in the finance, insurance, investments, and pensions industries.
Yes, it’s among the high paying careers with bachelor’s degree only. Actuaries earn median wages of $125,770/year (BLS, May 2024).
But graduates must earn a series of professional exams to practice. Internships are optional but highly recommended. Actuaries have great work-life balance, too.
- Average Starting Salary: $79,000 – $85,000/year
- Common Career Paths: Actuary, insurance analyst, risk analyst, or financial consultant
- Job Outlook: 22% (2023-2033) High demand across finance, insurance, and pension industries
- Recommended Programs: University of Nebraska–Lincoln and Drake University
Mechanical Engineering
Students focus on the design, manufacturing, and maintenance of mechanical systems. Tools, machines, and engines are among their forte. They also develop strong analytical thinking, problem-solving, and technical communication skills.
Mechanical engineering is among the most lucrative bachelor’s degrees, too. The median pay is $102,320 (BLS, May 2024), while the highest earners can earn over $161,240/year.
- Average Starting Salary: $81,500- $85,000/year
- Common Career Paths: Mechanical engineer, manufacturing engineer, design engineer, or project engineer
- Job Outlook: 11% (2023-2033) High demand, thanks to its wide industry applications. Graduates can apply to the automotive, aerospace, and manufacturing industries.
- Recommended Programs: Michigan State University and Virginia Tech
Industrial Engineering
Students tackle an intensive curriculum that combines engineering, business, and mathematics. Industrial engineering focuses on making processes and systems more effective and efficient.
This is among the college degrees with the best ROI – industrial engineers earn $101,140/year, on average. Many earn more than $157,140/year.
But it isn’t only the money that makes industrial engineering a high-value degree. Graduates have a blend of managerial and technical skills applicable across diverse industries.
- Average Starting Salary: $70,000 – $75,500/year
- Common Career Paths: Industrial engineer, quality engineer, operations analyst, or logistics planner
- Job Outlook: 12% (2023-2033). High demand because of its focus on improving systems and operations
- Recommended Programs: University of Michigan
Economics (Applied Economics/Finance)
Students explore how individuals, groups, and organizations allocate resources and make decisions. There’s a strong emphasis on real-world financial systems and applications.
The coursework covers a broad range of topics, but the specialization courses differ. In applied economics, these include data analysis, econometrics, and economic policy analysis. In finance, these include risk management, monetary policy, and corporate finance.
Graduates are in high demand, too, because of their versatile skills. Data-driven decision-making and economic modeling, and forecasting are examples.
- Average Starting Salary: $80,000 – $85,000/year
- Common Career Paths: Economist, financial analyst, or management analyst
- Job Outlook: 11% (2023-2033) Stable demand across public and private sectors
- Recommended Programs: University of Minnesota – Twin Cities and University of Michigan–Ann Arbor
Finance/Management Information Systems (MIS)
The degree combines two in-demand business disciplines and, thus, gives great value. Students study finance – the study of money – and MIS – the study of how technology supports business. Their skills include data handling, financial forecasting and valuation, and ERP systems.
With it, you can choose from a wide range of business and financial occupations. These occupations have a median wage of $80,920/year (BLS, May 2024). Note the median wage for all occupations is $49,500/year.
- Average Starting Salary: $70,000 – $75,000/year
- Common Career Paths: Systems analyst, IT manager, financial analyst, or investment banking analyst
- Job Outlook: Strong demand in the IT, fintech, and corporate finance sectors
- Recommended Programs: University of Texas at Dallas and Western Governors University
Maximizing Earnings with a Bachelor’s Degree
Yes, a high-value bachelor’s degree is a great starting point. But that’s what it is – a starting point only. You must follow through by maximizing it after graduation.
Choose an affordable college to start with.
The more affordable your cost of attendance, the higher your return on investment. So, your first step should be choosing an affordable college, such as:
- In-state public universities
- Community college with articulation agreements or transfer paths with four-year universities
- Nonprofit colleges with strong financial aid options
- Online colleges that offer in-state or uniform tuition to all students
Maximize financial aid.
Every dollar you don’t spend from your pocket and borrow from others is free money you can keep. So, apply for as many scholarships, grants, and work-study opportunities as you can. (Explore our scholarships and financial aid pages for more information)
Be an intern as early as possible and often.
Gain a competitive edge in your job applications through real-world experience. Internships can also lead to referrals and full-time job offers.
Earn professional certifications.
A bachelor’s degree is a minimum requirement for entry-level jobs. So, professional certifications on your resume will improve your marketability.
You can earn them as a college student or right after graduation. These require significantly less time and cost commitment than graduate school, too.
Network strategically.
References, letters of recommendation, and job referrals come from your network. So, build and expand your network while in college.
Finding Affordable Programs for High-Paying Majors
Again, affordability is key to getting the best value for your money. But you mustn’t sacrifice quality either. Employers value quality education and training in the hiring process.
Here are ways to find low-tuition schools that offer programs in high-value majors.
- Again, consider in-state public universities. Tuition and fees are significantly lower in these institutions – $11,011/year (US News, 2024-2025).
- Check out regional tuition exchange programs, too. These allow students to attend out-of-state schools with reduced tuition and fees.
- Consider colleges with strong financial aid options and ROI. Look beyond the tuition and rates in this case, even if these are more expensive. Financial aid will reduce your out-of-pocket costs. Being gainfully employed right after graduation means getting back your investment sooner.
Final Thoughts
In conclusion, the right bachelor’s degree can deliver career satisfaction and high income. All these without spending time and money on a graduate degree.
But it takes strategic planning to choose a high-value major without breaking the bank. For starters, research affordable programs and financial aid options. Then, leverage every financial aid that comes your way. Take full advantage of internships and certifications to gain a competitive edge.
In the end, it’s your ultimate responsibility to make your bachelor’s degree work for you.