According to the New York Federal Reserve, engineering degrees are the most lucrative. latest studyRecent college graduates can expect to make a good living. 

The top 10 majors earning the most five years from graduation are all related to engineering — except for computer science, which ranks fifth out of all majors. Of that top 10, the average yearly salary is just over $68,000, with computer engineering paying $74,000 in median wages — the most of all majors.

Most of the top 10 majors in five years after graduation are liberal arts degrees. They all earn less than $40,000 per year right after college. Sometimes, lower-ranked majors can earn half the wages of the highest-paying ones.

A minimum wage job paying $15 an hour works out at $31,200 a year if you work 40 hours per week. That pay is nearly on par with what you’d earn for a college major in family and consumer sciences — a life-skills college degree that ranks the worst in terms of median pay within five years of graduation, with yearly wages of $32,000.

Four majors — family and consumer sciences, the performing arts, general social sciences and social services — actually pay less than the median salary of $35,805 for full-time workers in the U.S., regardless of education, according to the Federal Reserve Bank of St. Louis.

Good news: College majors offer higher earning potential than a high school diploma. For college graduates aged 22 to 27, the median salary is $52,000. This compares with a $30,000 median income for those without college degrees.

All college graduates, no matter what major, see their wages rise over time. Studying graduates aged 35 to 45, the study found that average salaries for all majors range from $46,891 up to $74,123.

Both mid-career and early college graduates have the same top and bottom ranking. Engineers are at the top while education and liberal arts majors fall to the bottom. Over time the wage gap increases as mid-career top earners earn about $100,000, while those at the bottom earn less than $60,000. Family and consumer science majors earn an average mid-career income of $51,000.

Get started now Get smarter about your money and career with our weekly newsletter

Don’t miss: Disney is hiring TikTok creators — you need to love theme parks, food and social media