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Weston Dean Homes Blog

Can College Majors Predict What House You Can Afford?

October 19, 2015

  What Is Your Major? What Is Your Major? did a recent study to see on average what type of home a typical graduate could afford after working 10 years, based on their major in college. If you find yourself currently looking for New Braunfels Custom home builders and fit any of this criteria, see if it matches up to what you have set for yourself! Weston Dean Custom Homes shares information that asks the questions if “what is your major” should really translate into “what kind of house do you want to live in?” First, the study showed that not all college majors are created equal. This is especially true when you consider the four years of tuition as an investment in future earnings. Despite the controversy around rising tuition and student debt, the Federal Reserve Bank of New York shows the average value of a college degree has remained near its all-time high since 1970. According to PayScale, a midcareer employee with a bachelor’s degree earns a median salary of $77,066, meaning he or she can afford a house at roughly $341,000. This is roughly 60% more than a high school graduate could afford, at the same age. Out of all of the 300-plus majors that were surveyed, the top earner of all was a petroleum engineering degree, which came out with a midcareer salary of $168,000, and being able to afford a home priced at $744,000, which is three times as much as the median list price. Most engineering branches start with salaries around $100,000, just out of college. For what it is worth, whether you are looking at going to college or are in your post-college life, do these numbers stack up to your reality?
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