Plinius

Tuesday, March 8, 2011

PL 4/11: Low salaries in “people professions”

Filed under: education, future — plinius @ 9:45 am

Farming was a life-style.

Traditional crafts also used to be inherited. Some of the professions – teaching, nursing, research, the arts – often appeared as callings – as personally fulfilling ways of life.

In the knowledge economy, all forms of work become monetarized. Education is increasingly seen as a financial investement. This investment is usually shared by the state and the student (or her family). Both parties are increasingly concerned about the return on their investment.

Below I show how professions differ in terms of economic rewards. All data apply to US employees with (only) a bachelor degree in the subject.The lesson is clear: the professions that demand advanced mathematical and technical skills come out on top. The profesions that demand social and  artistic skills come out at the bottom.

In a market-driven economy, the salaries partly reflect the balance between supply and demand – and partly (I think) the consequences of errors and mistakes.  A small mistake in a class room can destroy a smile. A small mistake in aerospace engineering can destroy an airplane.

The data are median values in mid-career positions. The source is the US 2010-2011 College Salary Report . Only a selection of professions, which are particularly relevant for Oslo and Akershus University Colleges, are included.

One dollar is currently 5,53 NOK
The full data are here – and in the source itself.

Above $ 90.000 per year

  • Petroleum Engineering    –    $157 000
  • Aerospace Engineering    –   $108
  • Applied Mathematics   –    $101
  • Economics    –    $98
  • Computer Science    –   $98
  • Statistics   –    $93
  • Finance    –   $92

$ 80-90.000

  • Mathematics    –   $88 000
  • Government    –    $87
  • Chemistry    -0    $84
  • Industrial Design    –    $82
  • Biochemistry    –    $82
  • Industrial Technology    –    $82
  • Food Science    –    $81

$ 70-80.000

  • Information Technology   –    $79 000
  • Film Production    –    $78
  • Accounting    –    $78
  • Occupational Health and Safety    –    $77
  • Advertising   –    $73
  • History    –    $73
  • Philosophy    –    $73
  • Biology     $73
  • Microbiology    –    $73
  • Fashion Design    –    $72
  • Communications    –    $72
  • Global & International Studies    –    $71
  • Business   –    $71
  • Public Administration    –    $71
  • Biotechnology    –   $70100

$ 60-70.000

  • Drama    –  $68 000
  • Nursing    –  $68
  • Health Sciences    –    $68
  • Journalism    –    $67
  • Literature    –    $66
  • Public Health   –    $66
  • Liberal Arts    –    $64
  • Psychology   –    $63
  • Sociology   –    $62
  • Kinesiology    –    $62
  • Multimedia & Web Design    –    $61
  • Photography    –    $61
  • Health Care Administration   –    $61
  • Organizational Management    –    $61
  • Fine Arts  –    $60
  • Humanities    –    $60

$ 50-60.000

  • Medical Technology   –    $59 000
  • Visual Communication    –    $58
  • Social Science   –    $57
  • Art History   –    $57
  • Graphic Design    –   $57
  • Nutrition    –    $57
  • Interdisciplinary Studies    –    $56
  • Education    –    $55
  • Dietetics    –    $54
  • Special Education    –    $54

Below $ 50.000

  • Social Work    –    $45 000
  • Elementary Education    –   $44
  • Child and Family Studies    –   $38

1 Comment »

  1. […] PL 4/11: Low salaries in “people professions” […]

    Pingback by P 44/11 « Plinius — Wednesday, March 9, 2011 @ 8:35 am


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