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Tuesday
4/25/2000
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Report lists top-paid majors Pharmacy ranks as most lucrative major at PurdueMegan Finnerty
The five highest-paid majors at Purdue range from biological science with an average accepted salary of $46,453 to Pharmacy, the only five-year degree among those surveyed, with an average accepted salary of $64,033. Such high salaries are caused by supply and demand, said Carol Barrett, executive associate director for the center. "We are based in a very ecommerce area and a lot of fields in technology are paying very high salaries," she said. "Salaries are, in general, based on supply and demand. For instance, there is not a very large supply of Pharmacy schools in the U.S. and there are not enough pharmacists to fill all the jobs; so, those graduates are in very high demand." The least lucrative majors at Purdue include forestry, general agriculture, child development and family services, retail management and aviation technology, according to the same report. These majors range from child development and family services at $21,972 to retail management at $25,367. Barrett said that some majors have low salary averages for jobs taken right after graduation because the graduates go into entry-level positions. After a few years with the company or the acquisition of a master's degree, graduates may be making much more money. "In aviation the students have to start small and they are not usually hired by big companies like United Airlines and American Airlines right away," she said. "And in five years they will be making a lot more money." Show Me the Money The School of Pharmacy, which was ranked fifth in the nation among pharmacy schools by "U.S. News and World Report," led the survey ahead of the second most-lucrative major by $13,833. In addition to the fact that pharmacists have historically been paid well, they are also in short supply according to Pat George, associate director in the office of student services. Pharmacists are in short supply because their role has changed significantly, he said. They now provide more patient care by administering drugs and vaccinations. The demand for traditional pharmacists has increased, as well. "Three billion prescriptions are being filled by pharmacies each year, and in the next four years, that number will be up another billion and that is going to create a great need for pharmacists," George said. This increase in the number of prescriptions filled is partially because people are living longer and healthier, but also because the baby boom generation, which is starting to age, will require more prescriptions. The demand for more prescriptions means more jobs for pharmacists, as more 24 hour pharmacies open to meet the demand. But there may not be enough pharmacists to staff all those jobs, said George. This drives up the salaries for pharmacists. The Big Money Two other majors that are also in short supply are computer information systems technology and telecommunications and networking technology. According to Lloyd Weaver, associate professor of computer technology, that is only one of the reasons why graduates of those departments can command such high salaries their first year out of school. "Right now, in this country, there are 700,000 information technology jobs left unfilled and that is increasing at a rate of 140,000 jobs a year, according to InfoWorld. But only roughly 38,000 students are graduating in directly related fields," he said. Weaver also points to the fact that all graduates of computer information systems technology have to take an interviewing class that teaches them how to negotiate salaries and how to target their job search as a reason for the high salaries. Also, more than 90 percent of graduates in the two fields leave with some kind of work experience either from coops or internships, according to Weaver. He said that in addition to the depth of the curriculum offered to the two majors, the fact that the students are taught by former professionals who have at least five years of experience gives Purdue graduates an edge. "Our students need no training when they leave," he said. "We've been there. We can not only tell them what they need to know, but why they need to know it because we've all been there." Money Isn't Everything Some of the majors that are not commanding high salaries such as forestry and child development and family services are failing to do so, not because of inadequate faculty or curriculum, but because, in both fields, salaries increase as experience and education increases. "Salaries go up for people who have been in the field a little longer and get their master's because they go into supervisory positions," said Douglas Powell, head of the department of child development and family studies. "But people drawn into early intervention services go into it because of the strong psychological rewards and know that the financial rewards will come later." The same is true for students in the department of forestry, according to Jane Alexander, administrative manager for the office of student services in the department of forestry and natural resources. "Often ,natural resources students do not get permanent jobs because the government, like the DNR (Department of Natural Resources), are looking for people with lots of experience and the way to get that experience is to take temporary jobs," she said. "When people are coming right out of school, they are taking seasonal work which is not usually as well paid because some things are designed to give experience." Although Powell said the job market is robust for child development and family studies majors and that those graduates have no problem getting jobs, salaries are still depressed because the jobs are seen by society as women's work. Because of this it is undervalued. "Gender is a huge factor as far as income goes," he said. "And some of that is changing, but we have a long way to go." A Light At the End of the Tunnel There is hope for students in both of these majors. Salaries are rising for child development graduates because it is a very specialized field that requires much training, said Powell. He also said Purdue is one of the only schools in Indiana that specializes in early development special education. This means there are few graduates in the state to fill a growing job market and this will, Powell hopes, increase salary rates. The demand for forestry graduates is also expected to rise in the future, Alexander said, because of many people soon to retire from the field. However, lowpaying government jobs are not the only route for forestry graduate majors. The job market for private sector jobs within forestry is more lucrative and features jobs such as an urban forester for a city, a timber purchaser, a nursery worker or a consulting forester. But, in the end, for all majors, as Barrett pointed out, individual choice is important in today's economy. "I have been here for a long time and seen many economies some fast and some slow and I've found that the best advice is to do something that you enjoy and are good at," she said. "I've talked to many alumni who are five- and six-years out and they tell me that it's not just the money, but that you have to want to get up and go to work each day." |
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Purdue Exponent 2000 |
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