Five 'Impractical' College Majors That Might Make You RichI recently wrote on DailyFinance about a recent survey that showed the college majors that tend to yield the lowest salaries -- and I showed how, in reality, what matters is not so much what you major in, but what you decide to do with your degree and your career.

To get an idea for what hiring managers think of Gen Y workers, take a look at the findings of a survey conducted by SmartCompany, a leading Australian small business website: 48% of small- and medium-sized business owners were disappointed with Gen Y's communications skills. A CareerBuilder survey of employers found that 55% felt that Gen Y workers were less skilled at dealing with authority than older workers, and 87% said Gen-Y workers were more entitled. I would also argue that those two points tie in with the issue of communications skills.

Given that -- and the decided lack of complaints from employers that Gen-Y workers don't possess of enough knowledge about the specifics of the field in which they're working -- here are a few alternative majors to consider. While they all appear on most lists of low-paying degrees, they actually have a lot to offer in terms of building young workers who can communicate and climb the ranks within the workforce.

Social Work

Social work is all about communication -- and the study of the dynamics of human relationships and how to improve people's lives in the context of themselves and their communities. I would argue that this background in understanding relationships is a big part of what helped Suze Orman reach millions of people in ways that more conventional finance-major-turned-financial-planner types couldn't.

  • Social Work Major Who Struck it Rich: Suze Orman, financial advisor, No. 1 New York Times bestselling author and host of The Suze Orman Show on CNBC.
Drama

One friend of mine who decided to major in drama told me his parents reacted to the news as though he had announced that he was terminally ill. And, yes: If your kid doesn't make it big in Hollywood and ends up traveling around performing at summer theater festivals, he's unlikely to make a lot of money. But, seriously: Is there any better way to develop the communication skills employers crave than through performance?

One drama major who doesn't regret his decision is Marc Acito, the author of How I Paid For College: A Novel of Sex, Theft, Friendship & Musical Theater.

"At the risk of making drama school sound like the Miss America pageant, I learned poise and self-confidence, which served me well when I worked as a salesman," he says. "And I eventually got two books and a movie deal out of it the experience, so it worked out okay in the end."

  • Drama Major Who Struck it Rich: Oprah Winfrey, billionaire, biggest media mogul ever.
Psychology

As Al Lee of Payscale told The Wall Street Journal, "If you're motivated by income, then there are certainly careers in psychology that pay as well as careers out of engineering."

Psychology is, according to the folks at University of Wisconsin -- Eau Claire, a way to develop skills in writing, research, performing experiments and data analysis. And when it comes to climbing your way to the top in any field, knowing how to mess with people's minds can't hurt.

History

Studying history requires attention to detail, critical reading, and writing -- mega-rich hedge-fund manager David Einhorn earned his degree in government, and he has made an enormous amount of money, one might argue, by poring over SEC filings and making connections that finance majors were missing. Remember, he saw trouble at Lehman Brothers long before almost everyone else.

The skills history majors develop have applicability in many, many areas. If you use them to become a curator at a local historical society, you probably won't get rich. But ...
  • History Major Who Struck it Rich: Carly Fiorina, former CEO of Hewlett-Packard (HPQ), and GOP candidate in California's U.S. Senate race.
English

Many students skip over this major in favor of what seem like more career-oriented choices such as journalism or communications.

But renowned journalists and media personalities including Bob Woodward, Barbara Walters, Diane Sawyer, and my personal favorite, Joy Behar, all majored in English. The ability to read and write well may carry over into the future far better than the "craft-oriented" training that journalism programs provide -- much of which will likely be obsolete in a few years.
  • English Major Who Struck it Rich: Michael Eisner, former CEO of Disney (DIS)

Finally, prospective college students and their parents should keep in mind that an ever-increasing percentage of young people are planning on attending grad school -- meaning that the career-relevance of your undergraduate major is especially irrelevant. Degrees in fields like classics get people into top business and law schools all the time.

Florida Atlantic University reports that "Some years ago, law school deans were surveyed to determine what majors they recommended to effectively prepare students for law school. The four majors most frequently recommended were, in alphabetical order, English, history, philosophy, and political science." Another benefit to majoring in something you love? You'll graduate with a higher GPA.

None of this is to say that you should major in history or theater if those aren't the things that interest you. If you want to be an engineer or an accountant, the hard sciences, business or mathematics make great majors. But if your passion lies in the classics, go for it. Pursuing your own interests is reward enough in itself, and it offers as good of a shot at making a lot of money as following the path of least resistance and picking a major based on "practicality."

Zac Bissonnette's book, Debt-Free U: How I Paid For An Outstanding College Education Without Loans, Scholarships, Or Mooching Off My Parents, is available for pre-order and will be in stores Aug. 31.

Increase your money and finance knowledge from home

How Financial Planners go Grocery Shopping

Learn to shop smart and save.

View Course »

Timing Your Spending

How to pay less by changing when you purchase.

View Course »

Add a Comment

*0 / 3000 Character Maximum

137 Comments

Filter by:
Massage Schools

I fully believe that one of the most important things to do in life is to enjoy yourself. As most people spend most of their waking life at work it is important to find a career that you love, so you don't end up wasting the limited time we have being unhappy in your career. After many years working for the corporate man I decided to attend massage therapy school in Seattle, WA. This was the best decision that I ever made. I now enjoy my career and I make a great living.

Seattle Massage Schools
www.nw-academy.com

December 20 2011 at 6:18 PM Report abuse rate up rate down Reply
boulderlinda

Remember the old saying "Do something you love and you'll never work a day in your life"? So true and so unfortunate that most of us learn it too late. It's one thing to choose a career when Mom and Dad are paying the bills, it's another when you find yourself with a wife and kids.

August 24 2010 at 6:57 PM Report abuse +1 rate up rate down Reply
geosayers

Personally, I am possessed of the ability to intoxicate the multitudes with the exhuberance of my verbosity. However, I can find no expletive suitable for the Joy Behar comment.

August 24 2010 at 5:09 PM Report abuse +3 rate up rate down Reply
alpambuena

the best degree that one could have is one that will make you happy, and put satisfaction in your life. high school seniors look at colleges and degrees, like they look for their favorite color on a car, or their favorite song or group. we aare already born with natural talents, that make us happy, or enrich our lives. from a gift of gab, to art and writing, math and science, and so on. happiness and fullfillment in your life, is more important than money, so start looking in the mirror for your college majors.

August 24 2010 at 4:54 PM Report abuse rate up rate down Reply
Boriken Warrior

The article went south when the writer said... "and my personal favorite, Joy Behar". Wow! Talk about credibility issues! -Koa-

August 24 2010 at 4:19 PM Report abuse +2 rate up rate down Reply
Mrs.JLavalasByrd

Fantastic article I saved it for my daughter E.Manuela, she will going to college fall 2011.

August 24 2010 at 1:33 PM Report abuse rate up rate down Reply
ERi5426301

Aren't we backwords ,the entire population is having a hard time communicating ,and English has to be one of the hardest, with all its rules and words that sound the same but have different meanings , why not change the rules and make it easier for people to READ , REED , AND WRITE ,RIGHT

August 24 2010 at 12:00 PM Report abuse +1 rate up rate down Reply
jme9570218

YDude, what you don't know fills libraries. There is work to earn $-money to pay bills, there is work which provides job satisfaction, which is quite personal, there is work for professional development that achieves groupie-status and recognition, there is work which will earn you fortune & fame, which 1/10th of 1% will attain. Most of us have many jobs, change many times, & land where fate takes us. Man's reality seldom meets his expectations. "Again I saw that under the sun the race goes not to the swift, nor the battle to the strong, nor bread to the wise, nor riches to the intelligent, nor favor to the men of skill; but time and chance happen to them all." - ps. Joy Behar-is she your Mother ? Or was she the running joke for a drinking game at your college fraternity/bar ? Hard to imagine a more obnoxious twit who brings NOTHING to the table but mouth & attitude. Never saw her miss an opportunity to take the cheap shot in an interview for a below the belt laugh at the get-the-guest's expense, in her painful east-coast shrill of a voice. Then she becomes border-line hostile when someone < with frankly alot more comedic talent, like a Penn & Teller >turns the tables on her, suddenly its not so funny. After Whoopi she is the most non-talented-"repulsive-extremis" - personality I have ever endured on a TV screen. However I guess for a burnt out nobody C- Stand UP comedienne she has succeeded beyond her wildest dreams & certainly beyond her talent. That 'time & chance' thing again..........

August 24 2010 at 11:00 AM Report abuse +2 rate up rate down Reply
1 reply to jme9570218's comment
geosayers

Very well said!!!!! ;>)

August 24 2010 at 5:15 PM Report abuse +1 rate up rate down Reply
legalcld

Who in the heck wants to be rich right now when the government will take 40% or more of what you make?? Not me!! I don't want to make a penny over $250K for now and whatever that bottom number ends up being under this administration$$$

August 24 2010 at 9:58 AM Report abuse -1 rate up rate down Reply
antgne

I want a "Fairy Princess" degree. I wonder how many people are going into that? Bottom line, you should look to the need and then decide what field to go into. Just because you like something, well, that's meaningless. You get in all that debt and then graduate and no one is hiring.

August 24 2010 at 8:54 AM Report abuse rate up rate down Reply