- #36
Locrian
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- 256
Archi said:Electrical Engineering
starting median:$60,900.00
mid-career median: $103,000.00
Physics
starting median: $50,300.00
mid-career median: $97,300.00
http://online.wsj.com/public/resources/documents/info-Degrees_that_Pay_you_Back-sort.html
Bottom Line: Is Physics near worthless compared to EE post graduation if one wants to work in industry?
Things someone should ask themselves about the above “statistics”.
What does the distribution look like? How does the median compare to the mean? Someone posted a graph of starting salaries of lawyers not too long ago and it was very instructive.
Are those two distributions made up of many other distributions of which you may only be a part of one? What’s the median, mean and variance of the distribution you’re actually going to be in, and what type of distribution is it?
Who cares what the median is, anyways? Are you the median? Does the median tell you anything without at least knowing the variance, too (and how much would that help)? What range do you fall on the curve? How do personal choices (geography, family life, etc.) impact where you’ll end up being?
Are there selection issues that skew the distribution? Could one distribution have its median shifted left or right due to how its boundaries are defined, rather than how good the compensation is? You know, maybe one of them is defined by a professional organization with barriers to entry and the other isn’t?
The fact that anyone would let those numbers above have any impact on their career choice is crazy.