Study also finds that STEM jobs are among the nation’s most highly-paid and fastest-growing.
A new report from the Georgetown University Center on Education and the Workforce shows that 65 percent of Bachelor’s degrees in STEM (science, engineering, technology and mathematics) occupations earn more than Master’s degrees in non-STEM occupations. Similarly, 47 percent of Bachelor’s degrees in STEM occupations earn more than PhDs in non-STEM occupations. Furthermore, even people with only STEM certificates can earn more than people with non-STEM degrees; for instance certificate holders in engineering earn more than Associate’s degree-holders in business and more than Bachelor’s degree-holders in education.
STEM will grow to only 5 percent of all jobs by 2018 and demand for STEM talent is growing even faster outside of traditional STEM occupations. This increasing demand for STEM knowledge, skills and abilities allows many individuals with STEM talent to leave STEM occupations. Students and workers divert from STEM jobs because, while STEM is highpaying, STEM students have access to higher-paying career options.
The report finds that of out of every 100 students with a Bachelor’s degree, 19 graduate with a STEM degree but only eight are working in STEM occupations ten years after graduation.
But it’s not only about money—a major conclusion of the report is that STEM talent winds up outside of STEM occupations because STEM jobs often do not fully satisfy individual social and entrepreneurial interests.
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Source: Andrea Porter| Georgetown University Center on Education and the Workforce