In 2018, young adults with at least a bachelor’s degree had an impressive employment rate of 86%, compared to just 72% for their counterparts with a mere high school diploma. After all, a higher level of education can mean more job prospects and the opportunity to build strong savings. Unfortunately, not all kinds of jobs are always in as much demand as others. That’s why SmartAsset crunched the numbers from the Bureau of Labor Statistics (BLS) to find out which sectors most need more workers with higher-education qualifications.
To find the most in-demand jobs for bachelor’s degree holders, we analyzed data for four factors: percentage change in average earnings from 2017 to 2018, percentage change in employment from 2017 to 2018, projected employment change from 2018 to 2028 and projected percentage change in employment growth from 2018 to 2028. For details on our data sources and how we created our final rankings, check out the Data and Methodology section below.
This is SmartAsset’s second study on the most in-demand jobs for bachelor’s degree holders. Check out the 2019 rankings here.
Key Findings
- STEM positions across top and bottom 10. STEM jobs are in-demand, but our data suggests that those candidates who specialize in information technology may generally fare better than those in other STEM professions. The four STEM jobs in the top 10 of our study are computer and information systems managers, information security analysts, applications software developers and social science research assistants. The five STEM jobs in the bottom 10 of our study are computer programmers, nuclear engineers, electronics engineers (except computer), materials engineers and mining and geological engineers.
- Demand for top jobs is significant. The projected percentage change in employment from 2018 to 2028 across the top 10 jobs in our study is approximately 16% on average, almost three times as much as the projected percentage change across all 150 jobs we considered, which is less than 6%.
1. Interpreters and Translators
Interpreter and translator takes the No. 1 spot in our study as the most in-demand job for bachelor’s degree holders, ranking within the top 25% of the study for all four metrics we considered. It has the highest percentage change in average earnings from 2017 to 2018 in the top 10, at about 6.6%. According to the BLS, employment in these positions is projected to grow more than 19% from 2018 to 2028, driven in large part by globalization and increases in the number of non-English-speaking people in the United States. Besides a bachelor’s degree, the most important requirement for anyone seeking this type of job is fluency in English and at least one other language, according to the BLS.
2. Financial Managers
Financial manager as a job ranks within the top third of the study across all four metrics we considered. More specifically, this occupation has top-10 rates for projected growth in the number of people it employs and the percent change in employment from 2018 to 2028. The BLS estimates that in 2028 there will be 104,700 more financial managers than there were in 2018, an approximate 16% increase in the occupation. Industry is used in two different contexts here, which is confusing. Remove and replace with: “This occupation, however, might not be the best fit if you’re seeking more work-life balance as many financial managers work more than 40 hours per week.
3. Computer and Information Systems Managers
The occupation of computer and information systems managers holds top-20 rates across all 150 jobs in our study for three metrics: percentage change in employment from 2017 to 2018, projected 10-year employment change and projected percentage change in employment over the next 10 years. According to the BLS, this job experienced an approximate 7% growth in employment from 2017 to 2018. As firms expand more of their business to digital platforms, it is expected to grow more than 11% from 2018 to 2028, much faster than the average for all occupations.
4. Medical and Health Services Managers
While medical and health services manager ranks closer to the middle of the pack when it comes to 2017 to 2018 job growth, the job ranks eighth-highest across all 150 categories in the study for both projected 10-year employment change – at 71,600 jobs from 2018 to 2028 – and projected 10-year percentage change in employment – at 17.6% from 2018 to 2028. According to the BLS, the 2018 median salary for this job was $99,730.
5. Information Security Analysts
Information security analyst ranks in the top 20% of the study for three of the four metrics we considered: percentage change in average earnings from 2017 to 2018, projected 10-year employment change and projected percentage change in employment over the next 10 years. The occupation does the best in projected 10-year percentage change in employment. The BLS estimates that the number of information security analysts will grow by about 32% from 2018 to 2028, the highest rate for this metric in the study. The BLS also states that demand for this job will be driven by the need for innovative solutions to prevent hackers from stealing critical information or causing problems for computer networks.
6. Registered Nurses
The number of registered nurses in the American workforce is expected to increase by more than 371,000 in the 10-year period from 2018 to 2028. While this number signifies only an approximate 12% increase, it is the largest raw figure for projected employment change in the study. The BLS predicts that demand for registered nurses will occur for several reasons, including increased emphasis on preventative care, as well as demand for healthcare services from the baby-boom generation as they expect to live longer and more active lives than previous generations. The 2018 median pay for this job was $71,730 per year, or more than $34 per hour.
7. Construction Managers
The job of construction manager ranks within the top fifth of the study for three of the four metrics we considered: percentage change in employment from 2017 to 2018, projected 10-year employment change and the projected percentage change in employment over the next 10 years. The number of construction managers increased almost 6% from 2017 to 2018 and is projected to increase by close to 10% from 2018 to 2028. According to the BLS, those with a bachelor’s degree in construction science, construction management or civil engineering, along with construction experience, will have the best job opportunities in this field.
8. Public Relations and Fundraising Managers
Public relations and fundraising manager as a job) ranks in the top 30% of the study for three of the metrics we considered: percentage change in average earnings from 2017 to 2018, percentage change in employment from 2017 to 2018 and projected 10-year percentage change in employment from 2018 to 2028. This job performed particularly well for percentage change in employment from 2017 to 2018, at about 7.7%, the seventh-highest rate for this metric. According to the BLS, the need to maintain a robust public image on social media is one factor behind the need for more public relations managers. Furthermore, raising more funds will be a high priority for nonprofit organizations.
9. Software Developers, Applications
Software developers create the applications that run on computers and other devices. While the job ranks in the bottom third of the study for percentage change in average earnings from 2017 to 2018, it ranks second-highest overall for both projected 10-year employment change and the projected percentage change in employment over the next 10 years. The BLS expects the number of employees in this job to increase by 241,500, or almost 26%, in the 10-year period from 2018 to 2028. In May 2018, the median annual wage for applications software developers was $103,620 per year. Strong computer programming skills are required for this job.
10. Social Science Research Assistants
The profession of social science research assistant rounds out our list of the top 10 in-demand jobs for bachelor’s degree holders. It performs particularly well for the metric of percentage change in employment from 2017 to 2018, at almost 10%, the third-highest rate for this metric across all 150 jobs we considered. Some of the duties of this job include preparing findings for publication and assisting in laboratory analysis, quality control or data management. The BLS projects that the number of jobs in this field will increase by approximately 3,600, or 9%, from 2018 to 2028.
Data and Methodology
To find the most in-demand jobs for bachelor’s degree holders, we looked at data for 150 occupations that the BLS classifies as typically requiring a bachelor’s degree for entry. We analyzed the data across the following four metrics:
- Percentage change in average earnings from 2017 to 2018. This is the percentage change in average annual earnings for an occupation from 2017 to 2018. Data comes from the BLS Occupational Employment Statistics and is for May 2017 and May 2018.
- Percentage change in employment from 2017 to 2018. This is the percentage change in the total number of people employed in an occupation from 2017 to 2018. Data comes from the BLS Occupational Employment Statistics and is for May 2017 and May 2018.
- Projected total employment change from 2018 to 2028. This is the projected change in the total number of people employed in an occupation from 2018 to 2028. Data comes from the BLS 2018 Employment Projections.
- Projected percentage change in employment from 2018 to 2028. This is the projected percentage change in the number of people employed in an occupation from 2018 to 2028. Data comes from the BLS 2018 Employment Projections.
First, we ranked each occupation in each metric. We then found each occupation’s average ranking, giving each metric equal weight. Using this average, we created our final score. The occupation with the highest average ranking received a score of 100. The occupation with the worst average ranking received a score of 0.
Tips for Giving Your Retirement an Educated Boost
- Make sure your retirement plan is a good fit. In the excitement of a new job offer commensurate with their education level, many prospective employees neglect to take a look at a company’s retirement plan when they consider a salary package. Taking advantage of a 401(k) employer match program is an ideal way to build your retirement savings faster.
- Save wisely. No matter how much your job pays, make sure your savings are yielding too. Be sure to compare savings account interest rates as you shop for the right fit for you.
- Demand expert advice. As you look into the next steps toward building your career as well as your overall financial goals, take an educated glance at your investing options and meet with a professional advisor. Finding the right financial advisor who fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
Questions about our study? Contact press@smartasset.com
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