Engineering degrees pay off best by far

Citing a report by CIBC economists on the earnings of people with a post-secondary education compared to those without, an editorial in the latest edition of Maclean’s magazine says: “While the average degree holder may see a 30 per cent annualized return from their investment in schooling, results vary. A lot.

“Engineering is the most financially rewarding choice a student can make, with a 117 per cent annualized earning premium over a basic high school education. The next best fields of study, by payoff are math, computer science and the physical sciences, all with an 86 per cent premium. After that comes a commerce degree, with a 74 per cent return on investment. Most arts or humanities programs, however provide a much smaller boost. At the bottom of the rankings, fine arts majors earn, on average, 12 per cent less per year than high school grads.”

To read the CIBC report “In Focus” authored by Benjamin Tal and Emanuella Enenajor dated August 26, 2013 (see chart 9 on page 4 for earnings per study area), click here.

To read the Maclean’s editorial, click here.