Black millennials like money! Maybe most even loooove money, however most also tend to be focused on living passionate and fulfilling careers. Many are “woke” and likely to major in “intellectual and caring” fields, inclined to give back to their communities. But it may be time to redefine what “woke” is and how having income can give all of us blacks a better outcome. (Especially if we’re woke)
Studies are starting to prove which areas are making the “real” dollars. Blacks who graduate with degrees in industrial and manufacturing engineering go on to earn about $76,000 in median annual wages over the course of a career. But, blacks – representing 12% of the U.S. population – only represent 5% of graduates in that major. Those graduating with degrees in Pharmacy, Pharmaceutical Sciences, and Administration go on to earn $84,000 in annual median income, yet African Americans only represent 6% of those grads overall, according to the CEW’s study. Chemical engineering, electrical engineering, computer engineering, civil engineering, nursing, general engineering and computer science all have median annual earnings of around $70,000 – 74,000. And at this point we tend to be under-represented.
On the other hand, CEW’s study showed that we tend to be over-represented in college major programs that, on average, lead to lower wages. For example, blacks represent 21% of Health and Medical Administration Services majors, which brings in a median annual wage of $46,000. We represent 21% of Human Services and Community Organization, and 19% of Social Work majors, which each lead to median salaries of $41,000 or less. A lot of our women go into psychology, education, and humanities,” says CEW Director Anthony Carnevale.
Part of the issue is that black students are “concentrated in open-access four-year institutions where students have limited choices of majors offered.” In other words, even when they have the grades to get into Harvard if their school doesn’t offer these STEM courses they can’t take them.
Btw/ Asians and their degrees tend to earn the most of all groups
1 million STEM jobs are needed STEM stands for: science, technology, engineering and math
Not choosing a STEM major can have a significant economic impact on a person’s life. “Blacks who earned a Bachelor’s degree in a STEM related major, can earn as much as 50 percent more than those who earned a Bachelor’s degree in art or psychology and social work. It also doesn’t help that racial discrimination can deter students from pursuing some majors, STEM in particular. For instance, 20 percent of black computer science majors attend historically black colleges and universities, Silicon Valley’s recruitment efforts on those campuses are often lackluster or non existent.
Anthony Carnevale’s conclusion, “I think these studies points out the need for more transparency and publicity in helping students, administrators and other people as well, figure out the economic value of fields of study or college majors.”