20 college majors with the highest unemployment rates . . . . . . . could this be right? https://www.businessinsider.com/college-degrees-with-the-highest-unemployment-rates
Petroleum engineering surprises me. It's one of the highest-paying engineering disciplines. Something doesn't add up here.
Yes, oil companies pay well. However, shale requires less engineering that other rocks and technology enables more wells from a single rig. I've know of a very good quality young petroleum engineer who went into internal audit for want of employment. Wages are sticky; once a class are over-paid it is difficult to adjust even when demand weakens. I know of secretaries in the energy complex making over 100K.
Yeah, I had that thought too. But then I thought, "Just because the job pays well doesn't mean there's a big demand." I don't know.
The computer science degree is the one I thought strange... interested if there is any insight into the dynamics in this area. Perhaps the area is getting flooded...
It doesn't surprise me. When oil prices drop, there are fewer jobs for petroleum engineers and geologists. Texas A&M reduced the number of students it was accepting to its master's program because of the job market.
Here's the latest data on 'who makes the most' https://thehill.com/homenews/administration/471328-education-department-releases-wage-debt-data-for-specific-college
Steering away from the crappy advice of "study what you're passionate about and money will follow" I think the opposite extreme is "avoid these studies based on unemployment rates." People should be building careers and not just trying to check boxes. The sorry state of most resumes that come across my desk tells me that this point is being missed. I don't care that you just sent me a list of former employers and degrees. I need you to tell me how your experience and education positions you for success in a particular role. A few years ago I had two engineering candidates stand out to me. Both were applying for entry level positions as an Engineer I (it goes up to V, and there is a separate Engineering Manager series with a first level more or less aligning with an Engineer III). Both had graduated from Binghamton University which has a very good engineering program. Candidate 1 had three internships at really impressive places. Candidate 1 had won competitions. Candidate 1, somehow in addition to all of that, also worked a part-time job in a machine shop. For a guy applying to be a Manufacturing Engineer, this was all great. Working in a machine shop is not a required piece for the job. It elevated him, however, because his passion for working in manufacturing was showing through just on paper. He was even more impressive in person. Candidate 2 worked no internships. He had a part-time job his entire academic career at Coldstone Creamery. His resume was a half page long. I mean, come on, who would YOU hire to work on your manufacturing operation? One person set the foundation for a career. The other earned a degree and wants a job. He found a job doing something else. But it's the type of job that arguably isn't really in the engineering field (though the degree is somewhat helpful). Now imagine the next downturn. Both men get laid off. Who do you think is going to be positioned well for another job? Which do you think is more likely to be unemployed for an extended period? A friend of mine has applied to my company every month for six years. He's been unemployed for a decade. He's an engineer. Has an M.Eng. even. He also has the most unremarkable career you've ever seen. What does he engineer? Whatever you've got. That might have flown a generation or two ago. Now, however, we want to hire subject matter experts and people with specialized skills not just smart people who can probably do "OK."
Thank you for sharing. It really helps illustrate something I've been considering a lot lately. It's become clear to me that in order to gain a greater measure of financial security, my current line of work is good, but not great. (hourly pay is very good, so I'm not living paycheck to paycheck, but the amount of work is inherently inconsistent and insurance and retirement benefits are hard to come by). Some of the careers that pique my interest are completely different than anything I've ever done before, and I'm always happy to learn something new. However, I realize that starting over from scratch in a completely new field will leave me with a disjointed resume and very little relevant experience to attest to my abilities. I've been considering a number of options adjacent to my field, such that I'd still be starting something new, but my resume would show a proclivity for the general idea of what I'm aiming to do. In that situation, my somewhat related experience might actually be what sets me apart from other candidates. I think I'd feel much more comfortable making that kind of change.
