In an era where student debt is a pressing national concern and economic volatility has graduates unsettled about their future careers, choosing the right major has become critical. Your choice of degree can influence not only your first job but the trajectory of your career, financial well-being and social mobility.

While passion and personal interests are still vital components of long-term career satisfaction, potential salary and job security are increasingly being weighed in college decisions. In this guide, we’ll explore majors that can help pave the way to wealth along with Historically Black Colleges and Universities (HBCUs) that students may be considering. 

What Degree Makes The Most Millionaires?

All degrees are not created equal when it comes to becoming a millionaire. While attaining such wealth does not always correlate to majors or schooling at all, there are some degrees that consistently result in high paying roles. According to data collected by WealthInsight and Spear’s Magazine, 11% of millionaires have studied some form of engineering. 

Whether that’s electrical, civil or computer engineering, the technical skillset and problem-solving skills required in these programs are highly transferable and essential for business innovation or entrepreneurship. Plus, engineers often enter lucrative fields that are in high demand, like technology, energy and infrastructure. For example, Jeff Bezos (Amazon) and Larry Page (Google) all started out with engineering degrees, according to BestColleges and The Economic Times, respectively. 

While engineering is one of the top careers for millionaires, there are other degrees that are lucrative. Spear’s Magazine reports that 12.1% of high-net-worth-individuals earned MBA’s, 8.2% studied economics and 4.7% studied law.  

What Degree Do Most CEOs Have?

The path to becoming a CEO does not solely depend on your major, but it can be influenced by it. According to U.S. News and World Report, some of the most common degrees held by CEOs are engineering, economics and business.

Business administration programs can help learners build skills in leadership, strategy and financial management skills. These can come in handy when managing large corporations and can degree programs can prepare students to think on macro and micro levels. 

Economics programs can prepare students to think in terms of efficiency and analytics. These skills are highly transferable to navigating corporate challenges and steering an organization through change.

Engineering programs explore with scalability and technological possibilities, which may help CEOs see market and innovation opportunities.

Which Degree Is Best For The Future? 

If you’re looking for a degree that can lead to increased earning power and job security, a few fields stand out. The Bureau of Labor Statistics (BLS) reports that computer science, finance and health care roles can offer competitive salaries and faster-than-average projected job growth rates.

The popularity of artificial intelligence and the rise of tech companies calls for an increased demand for computer science professionals. For example, the BLS reports that computer scientist jobs have a projected growth rate of 36% from 2023-33. This is significantly faster than the average 4% across all occupations. Computer and information scientist jobs have a projected growth rate of 26% over the same period, per BLS data. The Bureau reports median annual salaries of $112,590 and $140,910 respectively, for these professionals.

Business and financial occupations translate and interpret insights into strategic business decisions, which is necessary in an oversaturated corporate market. The BLS reports that these professionals earned median annual salaries of $80,920 in 2024. Roles like personal financial advisor report median salaries of $102,140 and projected growth rates of 17% from 2023-33.

Health care administration is on the rise due to steadily increasing public health concerns, which can create opportunities for rapid career advancement. In fact, per BLS data, healthcare professions earned a median annual salary of $83,090 in 2024. 

But selecting a major with a higher-than-average-salary is not just about what’s popular right now. It’s also about positioning yourself for industries that will thrive in 10, 20 or even 30 years from now. The world is moving toward automation, digital transformation, sustainability and advanced healthcare. With this in mind, some degrees can prepare you to adapt and innovate in industries with faster-than-average growth rates. 

What Are The Highest Paying Majors At HBCUs? 

HBCUs have a long history of producing leaders, innovators and high achievers across various industries. While market demands may influence salary outcomes for HBCU graduates — as with all institutions — certain majors can prepare you for higher-than-average paychecks. Many popular HBCUs offer these high-paying majors, so we’ve rounded up some top options. 

Engineering 

Students can specialize in different types of engineering, like civil, mechanical or electrical. According to BLS data, architecture and engineering occupations reported a median annual salary of $97,310 in 2024. Roles like computer hardware engineer earned median salaries of $155,120 in the same year. Engineering alumni from HBCUs like Joey Taylor are making major waves in the sectors of aerospace, energy, construction and tech. 

Recommended HBCUs: North Carolina Agricultural and Technical State University, Howard University and Florida Agricultural and Mechanical University

Computer Science

Computer science programs can prepare graduates for careers in software development, data analytics and even tech entrepreneurship. Given the growth of the tech industry in particular, computer science graduates from HBCUs are often prepared for roles with faster-than-average growth rates and salaries. According to BLS data, computer and information technology occupations earned median salaries of $105,990 in 2024. Roles like computer and information scientist reported median salaries of $140,190 in 2024 and a projected job growth rate of 26% from 2023-33.

Recommended HBCUs: Howard University, Morehouse College and Spelman College

Finance & Economics

There are many HBCUs with strong programs in finance and economics. Graduates may go on to work in banking, asset management, consulting and even government policy. The BLS reports that business and finance occupations earned a median annual wage of $80,920 in 2024. Some roles may offer six-figure salaries and the opportunity to work in a variety of industries.

Recommended HBCUs: Howard University, Xavier University

Business Administration

Business administration is a versatile major that can prepare you to work across industries. Graduates of this major may go into marketing, operations, project management, or human resources. BLS data for administrative services and facilities managers indicates that these professionals earned a median annual salary of $106,880 in 2024. Some professionals may go on to earn their MBA, which, paired with industry experience, can increase annual earnings. In leadership positions, there is the potential for HBCU graduates to earn over $150,000 annually, per Intelligent. 

Recommended HBCUs: Hampton University, Clark Atlanta University

Health & Pre-Med

Some HBCUs are nationally recognized for producing high numbers of African American graduates who go on to become doctors. Pre-med students often find that they have a variety of career options to choose from. The BLS reports that healthcare occupations earned a median salary of $83,090 in 2024. In fact, the Bureau lists physicians and surgeons as the highest-paying career as of 2025, with median salaries of more than $239,200 annually. Alternatively, graduates can pursue other health-related degrees like nursing or public health. Nursing in is one of the fastest-growing occupations, per BLS data, with a projected growth rate of 46%. 

Recommended HBCUs: Xavier University of Louisiana

Frequently Asked Questions

What is the lowest-paid major?

According to Fortune, one of the lowest-paying majors is foreign language, which reportedly brings in a median salary of $40,000 per year. 

What is the hardest major to earn?

How difficult a major is depends on your existing skill set and knowledge. That being said, math heavy majors like medicine and engineering may be especially challenging for some learners due to the complex theories and topics these majors cover.

What is the most underpaid major?

According to Indeed, theology is the most underpaid major, with an average yearly income of $40,000. However, the fine and performing arts also tend to offer lower-than-average salaries for graduates.