Generating some cash towards your student loan debt payments could mean adopting a new savings plan or finding new and creative ways to garner extra money in your pocket. Nothing compares, however, to a steady paycheck to bolster your finances.
For the newly minted grad looking to jumpstart their career prospects, getting hired can be difficult since those between the ages of 20 to 24 have an unemployment rate that tops 8 percent. So can landing the best paying jobs with ample room for advancement — they often depend on the field in which you earn your degree.
Here are six of the fastest growing, best paying jobs to earn you the most money at the entry level, straight out of college.
6 best paying jobs for college graduates
1. Investment banker
Average starting salary: $73,000
Arguably the highest paid job one can obtain with a bachelor’s degree (with an average median salary into the low six figures), becoming an investment banker doesn’t mean you’ll simply be crunching numbers all day. No, you’ll need to channel your inner Warren Buffett to stand among the brightest and best.
Becoming an investment banker requires a good eye for economics, math, or business, so you should have a degree in at least one of those three fields. Whether you’re Wall Street-bound or looking for a smaller-scale gig, expect a high pressure working environment and long hours protecting your clients’ funds and predicting the best investments for them.
According to the Bureau of Labor Statistics, investment banking will have grown 10 percent between 2014 and 2024.
2. Software developer
Average starting salary: $54,000
Software developers wear many hats and can sometimes carry different titles. A new bachelor’s degree holder in a field like computer or information science, math, or engineering offers enough diversity that you could be designing video games, writing complex computer coding like C++, or developing software.
An entry-level software developer may hold the title of software engineer, and depending on the company or firm you work for, you may hold a more integral role managing the organization’s entire IT structure or support system.
Engineers are often recruited by everyone from larger companies to smaller startups. Though one drawback is a constant learning curve to stay abreast of new technologies and skills as they emerge, it’s one profession that’s future-proof against becoming obsolete. If Apple or Microsoft come calling, you can climb into a six-figure salary.
Average starting salary: $65,000
What actually is an actuary? Using a combo of math, statistics, and financial theories, actuaries assess and analyze the financial consequences and outcomes associated with risk-taking business moves.
Companies — mostly insurance firms — employ actuaries when determining the rates they assess to customers. A solid mathematical education and proficiency mean you could find yourself branching out to work for the government, banks, other financial institutions, or health care organizations and hospitals.
The BLS predicts a whopping 18-percent job growth in the actuarial field by 2024.
4. Network systems administrator
Average starting salary: $62,000
When your company’s computer systems crash, who do you call? If you’re thinking of a career in software engineering or development, a computer science degree can also qualify you to become a network systems administrator, the person who gets the system back up and running.
The network admin doesn’t just fix bugs or reconnect faulty Wi-Fi connections. Your role is much more critical than that. You’ll need to stay ahead of the curve when it comes to predicting and safeguarding your network against hackers, viruses, and security issues that could compromise your organization financially and professionally.
There’s a lot of responsibility attached to being in charge of an entire network (or several), such as developing proprietary firewalls and other software, as well as overseeing phone connections — thus, your starting-to-median income will show for it.
Newbie network admins can pull an initial salary in the low $60,000s as a starting engineer, but a fully fledged admin with the right technical acumen may earn closer to $100,000.
Average starting salary: $53,000
An engineering degree can open up so many doors in the field that it’s a smart and financially sound career move for anyone looking to be well-compensated immediately following graduation.
Engineering students have a wide variety of concentrations to choose from: Nuclear or electrical engineers earn a median salary that tops $90,000, where you’ll have a leading role in developing processes, fixing issues, and finding solutions.
Like software development, engineering is a diverse, wide profession. Agricultural engineers, civil engineers, chemical engineers, and petroleum, aerospace, and environmental engineers are just a small sample of career choices to make.
6. Internet marketing
Average starting salary: $41,000
In a nutshell, marketing is the practice of advertising and finding opportunities to sell a product, a service, or something else of value to someone else. Internet marketing is the use of the web to broaden a company’s marketing efforts and customer base to increase its revenue and reach.
But internet marketing is more than just being a social media coordinator. A savvy marketer will need to be a branding whiz who knows instinctively how to leverage email, search engine optimization, blogs, podcasts, videos, and other outlets to maximize your company’s presence.
To start as a marketing specialist, a bachelor’s degree in marketing won’t earn much at first — only the low $40,000s — but the career and income growth can expand exponentially. (Marketing managers can take home $120,000+ annually.)
It’s one of the most secured and open-ended professions unlikely to die out, either — the internet isn’t going anywhere anytime soon.
Research the best paying jobs
The best jobs for recent college grads don’t have to be elusive when you choose what you study wisely.
Parents and kids should talk about the costs of college to determine how much tuition may cost for that engineering or computer science degree at your school of choice. After that, research how much the job will pay upon graduation and beyond to see your earning potential.
By taking these financials into account, you’ll know what college will cost, how much to borrow in loans, and what the curriculum entails — but most importantly, what your future earnings will be to keep you ahead of your loans and out of debt.
Interested in refinancing student loans?Here are the top 9 lenders of 2021!
|Lender||Variable APR||Eligible Degrees|
|1.88% – 6.15%1||Undergrad & Graduate|
|1.88% – 5.64%2||Undergrad & Graduate|
|1.88% – 5.64%3||Undergrad & Graduate|
|2.50% – 6.85%4||Undergrad & Graduate|
|2.25% – 6.39%5||Undergrad & Graduate|
|1.90% – 5.25%6||Undergrad & Graduate|
|1.89% – 5.90%7||Undergrad & Graduate|
|2.39% – 6.01%||Undergrad |
|2.13% – 5.25%8||Undergrad & Graduate|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Splash Financial.
Splash Financial Disclosures
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. The rates displayed may include a 0.25% autopay discount
The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.
To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet our lending partner’s underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. This information is current as of June 1, 2021.
2 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.
Interest Rate Disclosure
Actual rate and available repayment terms will vary based on your income. Fixed rates range from 2.59% APR to 5.79% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.88% APR to 5.64% APR (excludes 0.25% Auto Pay discount). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 36% (the maximum allowable for these loans). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 2.04% and 5.8% to the one month LIBOR. Earnest rate ranges are current as of 6/8/2021, and are subject to change based on market conditions.
Auto Pay Discount Disclosure
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay.
Student Loan Refinancing Loan Cost Examples
These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042.39. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,249.77. Your actual repayment terms may vary.Terms and Conditions apply. Visit https://www.earnest. com/terms-of-service, e-mail us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.
Earnest Loans are made by Earnest Operations LLC or One American Bank, Member FDIC. Earnest Operations LLC, NMLS #1204917. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit earnest.com/licenses for a full list of licensed states. For California residents (Student Loan Refinance Only): Loans will be arranged or made pursuant to a California Financing Law License.
One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Earnest loans are serviced by Earnest Operations LLC with support from Navient Solutions LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries are not sponsored by or agencies of the United States of America.
© 2021 Earnest LLC. All rights reserved.
3 Important Disclosures for Navient.
4 Important Disclosures for CommonBond.
Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.
5 Important Disclosures for SoFi.
Fixed rates from 2.74% APR to 6.74% APR (with autopay). Variable rates from 2.25% APR to 6.39% APR (with autopay). All variable rates are based on the 1-month LIBOR and may increase after consummation if LIBOR increases; see more at SoFi.com/legal/#1. If approved for a loan your rate will depend on a variety of factors such as your credit profile, your application and your selected loan terms. Your rate will be within the ranges of rates listed above. Lowest rates reserved for the most creditworthy borrowers. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. SoFi loans are originated by SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license #6054612; NMLS #1121636 (www.nmlsconsumeraccess.org). Additional terms and conditions apply; see SoFi.com/eligibility for details. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
6 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of 5 years and is reserved for applicants with FICO scores of at least 810.
As of 04/07/2021 student loan refinancing rates range from 1.90% APR – 5.25% Variable APR with AutoPay and 2.95% APR – 7.63% Fixed APR with AutoPay.
7 Important Disclosures for Laurel Road.
Laurel Road Disclosures
All credit products are subject to credit approval.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.
As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.
Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.
Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.
Interest Rate: A simple annual rate that is applied to an unpaid balance.
Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of April 29, 2021. Information and rates are subject to change without notice.
8 Important Disclosures for PenFed.
Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 2.89%-4.78% APR and Variable Rates range from 2.13%-5.25% APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 2.00%. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.