Choosing a Major? Engineering has the Best Financial Returns, Especially in Germany

Source: Sources: PayScale; National Centre for Education Statistics; The Economist

Source: Sources: PayScale; National Centre for Education Statistics; The Economist

College degrees have never been more valuable, but all degrees are not created equal. According to a recent study of American universities from Payscale, the return on investment for degrees in engineering is far high than others. And this is only more true of American engineers with degrees from German universities.

Today, college graduates earn 70% more across their careers than those without degrees. Of degree-seekers, engineers with US degrees ultimately have the highest return on their studies, with a 20-year annualized return of approximately 12%, higher than the next tier of business and economics grads, who earn approximately 9% on their investments.

For students considering an education in Germany, the rates of return are far higher. RWTH Aachen, the top rated German engineering school, charges no tuition for its undergraduate engineering programs, whereas the top-rated American university, MIT, costs over $40,000 per year. Considering that career opportunities are similar for grads from both universities and an education at RWTH Aachen costs $160,000 less, it's easy to see why so many students are thinking about moving to Germany to study.