If you’re wondering whether pharmacy is a good career choice, the numbers might convince you.
A report from Georgetown University’s Center on Education and the Workforce highlights the top college majors that offer the highest salaries over a lifetime—and pharmacy ranks second, right behind petroleum engineering.
The report, titled Economic Value of College Majors, underscores the growing demand and earning potential in STEM (Science, Technology, Engineering, and Math) fields. While engineers top the list, pharmacy majors aren’t far behind in terms of financial reward.
Pharmacy: A High-Value Degree in a Specialized Field
Pharmacy majors are part of a select group of degrees that can yield strong earnings right after graduation. The report shows that students with pharmacy degrees enjoy some of the highest mid-career salaries, often surpassing $100,000 annually.
This is partly because pharmacy is a specialized field that requires rigorous training and is directly tied to healthcare—a sector that remains essential and stable, regardless of economic shifts.
The Broader Salary Picture
Across the board, the typical college graduate starts out earning around $33,000 per year, which grows to about $61,000 over time. But for those in high-demand fields like engineering or pharmacy, the numbers are much higher.
For example, someone with a degree in petroleum engineering might earn over $4.8 million across their career. By comparison, early childhood education graduates earn closer to $1.4 million. Pharmacy lands comfortably near the top of the chart, offering a strong return on investment.
Why STEM Degrees Dominate
Experts say STEM majors continue to command higher salaries because they align with the most essential parts of the economy: technology, healthcare, and infrastructure. These disciplines are not only in demand—they’re also difficult, which naturally limits the supply of qualified professionals.
Katie Bardaro, lead economist at PayScale, explains:
“You have a limited supply of graduates in these majors—they’re tough programs that weed out a lot of students. But if you make it through, the earning power is real.”
No Grad School? No Problem
Another advantage of pharmacy and certain engineering degrees is that a bachelor’s degree is often enough to secure a well-paying job. While graduate school is beneficial for some career paths, many pharmacy graduates enter the workforce directly and do very well.
“Especially in fields like pharmacy or chemical engineering, a bachelor’s degree can take you far,” says Anthony Carnevale, the report’s lead researcher.
Not Everyone Needs to Choose STEM
While STEM majors offer higher salaries on average, experts caution against assuming they’re the right path for everyone.
“The takeaway shouldn’t be ‘Everyone should choose a STEM major’—that’s just not realistic,” says Bardaro.
Business remains the most popular college major, but earnings vary widely depending on the concentration. A finance major, for instance, is more likely to command a higher salary than a general business management major.
Even for students outside of STEM, taking classes in statistics, economics, or data analysis can help build analytical skills that employers are looking for.
Degrees with Societal Value—but Lower Pay
Majors such as education, religious studies, or parks and recreation tend to have lower salaries but provide essential services to society. For students pursuing these paths, Bardaro recommends choosing in-state public universities to reduce the burden of student debt.
Also Read : 6 Essential Pieces of Advice for High Schoolers Interested in Pharmacy
