Getting graduate education is a goal for many young people. Historically this was a matter of class, prestige and status. Today, in many cases it is a matter of getting a job. But, in some, it isn’t. Many young people follow their dreams to pick degrees that offer interesting courses while remaining in denial that they will ever be able to get a job in related field. Fashion, unfortunately, is one of the least employable fields in Canada and the United States.
Main reason is declining manufacturing and a stall in creativity. Manufacturing is outsourced to China, India and Eastern Europe and in many cases big brands simply act as buyers rather than designers. There was an article interviewing Russian factory workers who admitted that they never know who are they making clothing for and that from time to time recognize their own “creations” on the racks in different big brand stores, such as Hugo Boss, Zara, Benneton years after they were produced.
McLeans Magazine conducted a number of studies that show rather shocking statistics on employment percentage broken down by degree, and average salaries suggesting that for some degrees you may still have a job, but it will not pay well.
McLeans also discovered that student loans for private colleges bear 3 times more risk of default than those for public institutions. In Canada Fashion Studies are often offered by private institutions. Universities offer programs with more general focus : Marketing, Accounting, Engineering, Fine Arts etc. that have applicability in Fashion industry. But students with such degrees have a broader job search across many other industries if the dream one fails to offer opportunities.
Here are the top 10 majors with the highest median earnings:
1. Petroleum Engineer ($120,000)
2. Pharmacy/pharmaceutical Sciences and Administration ($105,000)
3. Mathematics and Computer Sciences ($98,000)
4. Aerospace Engineering ($87,000)
5. Chemical Engineering ($86,000)
6. Electrical Engineering ($85,000)
7. Naval Architecture and Marine Engineering ($82,000)
8. Mechanical Engineering ($80,000)
9. Metallurgical Engineering ($80,000)
10. Mining and Mineral Engineering ($80,000)
Here are the 10 majors with the lowest median earnings:
1. Counseling/Psychology ($29,000)
2. Early Childhood Education ($36,000)
3. Theology and Religious Vocations ($38,000)
4. Human Services and Community Organizations ($38,000)
5. Social Work ($39,000)
6. Drama and Theater Arts ($40,000)
7. Studio Arts ($40,000)
8. Communication Disorders Sciences and Services ($40,000)
9. Visual and Performing Arts ($40,000)
10. Health and Medical Preparatory Programs ($40,000)
Here are the numbers for the degrees that have highest default on student loans.
1. “Other” Arts and Science 7.0 per cent
2. Physical Science 5.7 per cent
3. Humanities 5.4 per cent
4. Social Sciences 4.9 per cent
5. Fine and Applied Arts 4.6 per cent
6. Theology 4.4 per cent
7. Kineseology and Physical Education 3.8 per cent
8. Nursing 3.1 per cent
9. Business and Commerce 3.0 per cent
10. Agriculture & Biological Science 2.7 per cent
