Wages and College Education
The above NYTIMES editorial asks: “Where have all the raises
gone?”
A possible explanation, not discussed in the editorial, is
the choice of academic majors by the millennial generation. Growing popularity
of easy majors – management, marketing, communication, sociology, etc. – may
have a lot to do with the little or no growth in average wages (earned by college graduates).
Payscale data:
It is easy to discern the correlation between the rigor of
the major and the expected starting salaries for fresh graduates. See link below
for relevant data: