Posted on 07/10/2017 12:02:52 PM PDT by SeekAndFind
It’s commencement season, and a new crop of college graduates is entering the job market. How long will it take them to achieve the American dream of homeownership? Realtor.com looked at 336 college degrees to determine which would most quickly put their bearers in a financial position to buy a home.
The site based its conclusions on typical early career salaries and a savings rate of 20 percent, with the goal of amassing $50,000, or a 20 percent down payment on a $250,000 home.
Engineering degrees dominated the list, occupying 33 of the highest 50 rankings, with petroleum engineering at the top: Those with this particular degree, the site predicted, would have enough earning power to buy a home in just 2.6 years. Notable non-engineering degrees among the top rankings were physician assistant studies (No. 2) and dental hygiene (No. 14).
And in last place? Early childhood education. Those with that degree would have to labor for more than eight years, Realtor.com estimated, before they could save enough to buy a home. Below, the top and bottom five degrees, as ranked by the site.
(Excerpt) Read more at nytimes.com ...
BEST COLLEGE DEGREES FOR HOMEOWNERSHIP AS PER NEW YORK TIMES:
1. Petroleum Engineering
2.6 years to home purchase
$96,700 salary
2. Physician Assistant
2.9 years to home purchase
$85,200 salary
3. Computer Science and Engineering
3.5 years to home purchase
$71,200 salary
4. Mining Engineering
3.6 years to home purchase
$70,200 salary
5. Chemical Engineering
3.6 years to home purchase
$69,800 salary
WORST COLLEGE DEGREES FOR HOMEOWNERSHIP AS PER NEW YORK TIMES:
1. Youth Ministry
7.6 years to home purchase
$32,900 salary
2. Pastoral Ministry
7.6 years to home purchase
$32,800 salary
3. Child Development
7.8 years to home purchase
$32,000 salary
4. Child and Family Studies
8 years to home purchase
$31,400 salary
5. Early Childhood Education
8.1 years to home purchase
$30,700 salary
Where did the ‘Gender Studies’ and ‘Ethnic Studies’ rank? Did they make the Top 50?
Jan. 1975, at age 21, in my first job out of the USAF, while working as an Electronics Tech, I bought my first house, BEFORE I started college.
The tab for my entire undergrad and graduate degrees (6 yrs) was less than $20K.
And my MS is from USC.
The “Early Childhood Education” field is populated with young women who would rather be married and having babies of there own than going to college. For whatever reasons they end up in college.
NYS needs highly paid grads to buy overpriced homes that have confiscatory property taxes.
Work harder, grads! Hundreds of thousands on welfare depend on you!
They’re probably right up with “Barrista” and “Web Developer” where the best option for home ownership is to wait til mom and dad croak, and then move upstairs.
Women’s Studies.....$0.00 UNLESS you teach OTHER LOSERS at some University.
You mean being a whorespondent for the NYT didn’t make the grade?
But, Dude, math is, like, hard!!
I just know I’ll regret asking but what does this mean and how is it useful to the world?
“the world also needs
those working to bring the culture to Christ through the arts.”
Can’t recommend Petroleum Engineering these days. We are in for a LOOOOOONG dry spell.
Or contact someone who specializes in creative real estate and acquisitions. Options, equity shares, bringing it a partner, using personal property as part of down payment, creating note as a down payment, etc. are ways to acquire real property without saving for a big down payment. While you are doing that, the value of your money is eroding as real estate prices escalate. In the time you are saving, the value of the real estate has increased in value more than your down payment.
(Yes, I have specialized in creative real estate, problem solving, and exchanging since 1977.)
WOW! Not a fluff degree in sight!
I’m one of those engineers.
The world also needs people whose calling brings more than earthly rewards...
“For whatever reasons they end up in college.”
Because that is where to find college educated men?
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