At Anyonecanachieve, we believe no mountain is too high to climb. We believe that students with support and guidance can select high goals with care and deliberation. We decided to feature two popular college majors, Psychology and Business. We highlight these fields that are of great interest to African Americans.. Together these fields account for around 26 percent of Bachelor’s degrees conferred to Black Americans, 2022.
Let’s take a look at Bachelor’s Degrees Conferred by Postsecondary Institutions (2021-2022) to Black American students in our two selected fields of study: Business & Psychology.
Around 200,000 Bachelor’s degrees or 10.4 percent of all degrees conferred 2022 went to African Americans. This is latest year for which NCES has published data on degree conferral at Colleges and Universities. The following:
PSYCHOLOGY DEGREES:
African American Men:
Black men earned 69,500 Bachelor’s degrees. Of those degrees, 2, 887 were Psychology degrees or 4% of all Bachelor’s degrees awarded to Black men.
African American Women:
Black women earned 130,424 Bachelor’s degrees. Of those degrees 12,317 were Psychology degrees or 9% of all Bachelor’s degrees awarded to Black women.
BUSINESS DEGREES:
Black men earned 69,500 Bachelor’s degrees. Of those degrees, 15,710 were Business degrees or 22.5%of all Bachelor’s degrees awarded to Black men.
Black women earned 130,424 Bachelor’s degrees. Of those degrees, 20,631 were Business degrees or 16% of all Bachelor’s degrees awarded to Black women.
African Americans have made substantial progress in degree attainment. In the late 70’s Blacks earned only 6 percent of all conferred Bachelor’s degrees, now 10.4 percent. It appears that around a third of Bachelor’s degree holders go on to enroll in a graduate program according to American Council on Education. All things considered, Anyonecanachieve encourages Bachelor’s degree recipients to continue their education. We encourage an early decision about graduate training in ones interest area as this helps to ignite coursework effort. The Bureau of Labor Statistics reports that in the labor force currently 9-13 of employed Blacks have advanced degrees. For other racial groups the percent ranges from 14-37 percent. There is a premium or added advantage in the labor market. Advanced degrees lead to greater annual and lifetime earnings.
Median annual earnings for business MBA and Doctoral Psychology
The median annual salary for doctoral degree holders in psychology in the United States is approximately $110,000, according to American Psychological Association (APA) data.
The median annual starting salary for U.S. MBA graduates is $120,000 to $125,000.
Source: National Center for Educational Statistics or NCES.ed.gov
Tables 322.40 and 322.50