New Report Reveals Surprising College Majors with Strong Job Prospects

A new analysis from the Federal Reserve Bank of New York has turned conventional wisdom on its head, showing that some humanities majors may actually have better job prospects than several popular STEM fields.

The study, based on data from the 2023 Census and unemployment figures for recent college graduates, reveals that unemployment is notably higher among computer science and computer engineering graduates. Computer science majors face a 6.1% unemployment rate, while computer engineering graduates are at 7.5%—well above the national average for college grads.

In contrast, majors that are often dismissed as impractical, such as philosophy, art history, and nutritional sciences, appear to be outperforming many technical degrees in terms of employment outcomes. Recent graduates with a degree in nutritional sciences have an unemployment rate of just 0.4%. Art history majors report a rate of 3%, and even theology and philosophy—traditionally seen as niche or academic—are showing stronger job market success than finance and economics. Philosophy graduates are unemployed at a rate of 3.2%, compared to 3.7% for finance.

This shift is challenging long-held assumptions about what makes a degree “marketable.” While STEM degrees still lead in immediate post-grad salaries—computer science and computer engineering majors earn median salaries of around $80,000—their job placement isn’t as bulletproof as once thought.

Some of this may be attributed to changing preferences among employers. Robert Goldstein, COO of BlackRock, the world’s largest asset manager, spoke at a conference last year about his company’s evolving hiring strategy. Rather than focusing solely on technical backgrounds, the firm has started actively seeking out candidates with degrees in history, English, and other liberal arts disciplines. The reason: a growing need for critical thinking, creativity, and communication skills—especially in a world increasingly shaped by artificial intelligence.

This trend also aligns with shifts in student interest. Gaurav Batra, CEO of Infinite Group, pointed out that fewer Indian students are opting for traditional engineering tracks. Enrollment in engineering has dipped to just under 25%, while interest in computer science and mathematics has surged to nearly 43%.

Overall, the job market has become more competitive for new graduates. The unemployment rate for recent degree-holders rose to 5.8% in March, up from 4.6% the year prior. And younger households, particularly those in Generation Z, are feeling the strain. According to the New York Fed, unemployment among Gen Z households jumped by 32% year over year as of February.

While STEM degrees continue to offer strong salary prospects, this new data highlights the growing value of diverse educational backgrounds—especially in a market where adaptability and human-centered skills are increasingly in demand.