Dustin Chambers, PhD Applet Studios LLC October 30, 2012

 The U.S. unemployment rate is currently 7.8% as of September, 2012  However, this rate varies widely depending upon a worker’s level of education: ◦ High School dropouts  11.3% unemployment ◦ High School (no college)  8.7% unemployment ◦ Some college (or AA)  6.5% unemployment ◦ Bachelors Degree  4.1% unemployment Source: U.S. Bureau of Labor Statistics (

 The average wage rate in 2011 was $45,230, however, worker earnings varied widely.  The lowest-paid 10% of workers earned less than $18,000 per year in  The highest-paid 10% of workers earned more than $85,280 per year in Source: U.S. Bureau of Labor Statistics’ Occupational Employment Statistics:

RankOccupationAnnual Wage 1Fast Food Cooks$18,720 2Food Prep. and Serving Workers$18,790 3Dishwashers$18,840 4Shampooers$19,130 5Cafeteria and Coffee Shop Attendants$19,450 6Bartender Helpers$19,540 7Hosts and Hostesses$19,660 8Amusement Park Attendants$19,960 9Farm workers and Laborers$20,020 10Ushers and Lobby Attendants$20,160 Source: U.S. Bureau of Labor Statistics’ Occupational Employment Statistics:

RankOccupationAnnual Wage 1Anesthesiologists$234,950 2Surgeons$231,550 3Obstetricians and Gynecologists$218,610 4Oral and Maxillofacial Surgeons$217,380 5Orthodontists$204,670 6General Internists$189,210 7Physicians and Surgeons, All Other$184,650 8Family and General Practitioners$177,330 9Chief Executives$176,550 10Psychiatrists$174,170 Source: U.S. Bureau of Labor Statistics’ Occupational Employment Statistics:

 The lowest paid professions have something in common: they are among the lowest- skilled professions.  By comparison, the highest paying professions are among the highest-skilled professions.  With the exception of CEOs, the highest paying professions have something else in common: they are all science intensive.

 Occupations in the sciences have many big advantages: ◦ Gateway to the highest paid professions ◦ High wages ◦ Many new jobs in these fields ◦ Jobs are available in most states

OccupationAnnual WageNew Jobs ( ) Petroleum Engineers$138,9805,100 (+17%) Physicists$112,0902,600 (+14.2%) Nuclear Engineers$105,1602,000 (+10.2%) Aerospace Engineers$103,8704,000 (+4.9%) Computer Scientists$103,1605,300 (+18.7%) Computer Hardware Engineers$101,3606,300 (+9%) Software Developers$100,420127,200 (+32.4%) Chemical Engineers$99,4401,800 (+5.9%) Geoscientists$97,7007,100 (+21.2%) Physical Scientists, All Other$96,2902,600 (+8.5%) Source: U.S. Bureau of Labor Statistics’ Occupational Outlook Handbook:

Source: U.S. Bureau of Labor Statistics:

 While more education generally increases wages and reduces likelihood of unemployment, not all college degrees lead to high paying careers.  To demonstrate this reality, we are going to use the Major$ iOS app.

 Open Major$ and first search for the following majors: ◦ Art History ◦ English ◦ History ◦ Music ◦ Political Science  Make sure to write-down the following for each major: ◦ Annual Wage ◦ New Job Growth

MajorAverage Wage RangeNew Job Growth Range Anthropology$59,040 to $59, % to 20.7% Art$32,270 to $95,5001.0% to 20.9% English$60,490 to $68,0600.6% to 6.5% History$50,140 to $57, % to 17.9% Music$41,070 to $53, % to 20.9% Average$48,602 to $66,7948.8% to 17.4% Source: Major$ iOS AppMajor$ iOS App

 Open Major$ and first search for the following majors: ◦ Biology ◦ Chemistry ◦ Civil Engineering ◦ Geology ◦ Physics  Make sure to write-down the following for each major: ◦ Annual Wage ◦ New Job Growth

MajorAverage Wage RangeNew Job Growth Range Biology$42,290 to $67,3407.4% to 13.5% Chemistry$67,340 to $74,7803.8% to 8.5% Civil Engineering$58,740 to $97, % to 36.4% Geology$97,700 to $97, % to 21.2% Physics$112,090 to $112, % to 14.2% Average$75,632 to $89, % to 18.8% Source: Major$ iOS AppMajor$ iOS App

 The national average wage is the U.S. is $45,230. ◦ For liberal arts occupations: $48,602 to $66,794. ◦ For science occupations: $75,632 to $89,846  The national average new job growth rate between 2010 and 2020 is 14%. ◦ For liberal arts occupations: 8.8% to 17.4% ◦ For science occupations: 12.2% to 18.8% Source: Major$ iOS AppMajor$ iOS App