Philosophy graduates excel on GRE despite career challenges

In recent years, the Federal Reserve Bank of New York analyzed labor market outcomes for college graduates based on their majors, revealing significant insights into various fields. The data, which was last updated in 2023, included details about unemployment rates, median early-career salaries, and median mid-career salaries for over 70 different majors. Among the findings, engineering degrees dominated early-career salary rankings, with graduates often commanding some of the highest salaries. Physics graduates faced a concerning unemployment rate, second only to anthropology, illustrating the challenges that even highly regarded science fields can encounter in the job market. Philosophy majors, often considered to hold degrees with limited practical application, displayed a median early-career annual salary of $48,000, positioning them in the middle tier of potential earnings. Notably, their unemployment rate was lower than many popular majors, such as finance and marketing, contradicting the stereotype that philosophy graduates struggle to find employment. This points to an underlying value in the skills philosophy graduates acquire, which may not translate directly into a specific job but foster critical thinking, analytical skills, and versatility in various professional fields. Moreover, historically, philosophy majors have excelled in standardized assessments, notably scoring the highest among all disciplines on the Graduate Record Examinations as of 2018. The ability to think critically and approach problems from different angles might not only contribute to academic success but also provide philosophy graduates with an advantageous skill set that employers value. The recent increase in undergraduate enrollment—reported to be up by 3% for the fall of 2024—may suggest that students are increasingly recognizing the benefits of a well-rounded education, even in fields like philosophy. However, the reality for philosophy graduates remains complex. While the degree cultivates valuable skills applicable to many professions, the direct pathways to successful careers in philosophy itself may be limited. The question remains whether the increasing interest in philosophy as a major will lead to better employment outcomes for graduates in the future, particularly as the job market evolves in response to advancements in technology and workforce demands.