Changing careers can be overwhelming because of the uncertainty that comes with it. Fear of starting over and fear of failure are oft-cited reasons. Financial insecurity, skills gap, and loss of professional identity are also common reasons.

But don’t let these negative aspects stop you from making a career change. Choose from among the best ROI degrees for career changers to start in the right direction. When you make the right choice, you’re on track toward financial stability and job security.

Why should career changers choose high ROI degrees in the first place? When you transition between careers, you’re making significant investments. You’re investing your money as well as your time, energy and effort into it.

If you pursue a bachelor’s degree, expect to spend $38,270/year, on average. For a master’s degree, it’s even higher at $62,820 for a two-year program.

So, in this article, we’ll feature the best ROI degrees for career changers. We considered job market demand, salary potential, and cost-effectiveness in our choices. 

Related:

• Calculating Value and ROI for College Degrees: A Comprehensive Guide
• Fast-Track Your Career: Top 5 Accelerated Online Degrees
• Career Change: Top Degrees related to the “Internet of Things”
• Strategies to Improve ROI for Your College Degree

What Makes a Degree a Good ROI for Career Changers?

If you’re a career changer, look for these characteristics in your second-degree choice:

High salary potential

Compare the median annual salaries between your old career and your preferred new career. Furthermore, consider the long-term salary growth, bonuses, and other monetary benefits. Factor in the location and its cost of living when comparing salaries, too.

Check BLS and Glassdoor for reliable information on average salaries for different occupations.

Strong job market demand

Choose an in-demand degree that results in job security and stability. Check industry growth projections via BLS and industry publications. Review employer reports and job postings to determine employment trends.

Shorter time-to-completion

Go for accelerated programs because your time is money. The faster you can earn your second degree, the quicker your returns.

As an alternative, choose an online program with flexible schedules. You can earn your second degree and still earn money.

Consider prior learning credits from military training, college courses, and work experience, too.

Affordable tuition combined with financial aid

Being an in-state student at a public college with generous financial aid is the best option. But consider private colleges that offer full-tuition or full-ride scholarships, too. Other options include online degree programs, employer tuition assistance, and external scholarships.

Emphasis on transferable skills

Look for degree programs that allow students to build on their existing experiences. Doing so means a shorter learning curve and faster completion. Consider competency-based learning formats, too (e.g., Western Governors University).

Best ROI Bachelor’s Degrees for Career Changers

Computer Science

Average Salary: $90,000-$150,000/year

Computer science and related fields are among the high-paying degrees for career change. Many computer science-related occupations allow remote work.

A wide range of industries also need computer science professionals. Healthcare, entertainment, agriculture, and business are a few examples.

Earning a computer science degree takes two to four years, depending on prior credits. Career paths include: 

• Software developers
• Data analysts
• Cybersecurity specialists

Earn professional certifications, too, so you can enjoy a smoother transition. Google, AWS, and Microsoft certifications are popular.

Nursing (Bachelor of Science in Nursing)

Average Salary: $75,000-$100,000/year

Choose nursing if you’re looking for the top college degrees for career transition. The consistent demand for nurses contributes to the profession’s strong job security. 

Plus, registered nurses can pursue career advancement opportunities (e.g., nurse practitioner). Popular career options include public health nurses and nurse case managers.

Accelerated BSN programs have a time-to-completion of 12-24 months. For traditional BSN programs, it’s four years.

Data Science and Analytics

Average Salary: $85,000-$140,000/year

In the Digital Age, data-driven decision-making is vital for success across diverse industries. It’s for this reason that data science and analytics are among the best second-career degrees with high ROI.

Common career paths include:

• Data scientists
• Business intelligence analysts
• Data engineers

Time-to-completion for fast-track programs in data science and analytics is 18-24 months.

Engineering (Various Fields)

Average Salary: $80,000-$120,000/year

Engineering is among the most profitable degrees for career changers, too. Engineers are in high demand across diverse industries. The construction, aerospace, and renewable energy industries are notable examples. Their strong earning potential is in the six-figure range.

Common career paths include:

• Mechanical engineers
• Electrical engineers
• Civil engineers

Engineering programs have a time-to-completion of 2-4 years. But it varies by sub-discipline and transfer credits.

Accounting and Finance

Average Salary: $65,000-$110,000/year

Stable job market across all industries, transferable skills, and clear advancement pathways. These are why accounting and finance are the best online degrees for a career change.

Popular career paths include accountants, auditors, and financial analysts. Earning certifications boosts income and career growth.

Accelerated programs have a time-to-completion of 1-2 years.

Best ROI Master’s Degrees for Career Changers

Master in Business Administration (MBA)

Average Salary: $90,000-$150,000/year

MBA holders enjoy a competitive edge for high-demand jobs for career switchers. Business consultants, operations managers, and marketing managers are a few examples. Extensive work experience can lead to C-suite positions, such as COO, CFO or CEO.

Online and accelerated MBA options are available. Time-to-completion is 12-24 months.

Master’s in Cybersecurity

Average Salary: $95,000-$140,000/year

Cybersecurity in the Digital Age is a significant concern. For this reason, it’s among the best master’s degrees for career changers, too. High demand across diverse industries and strong job growth are also good reasons. Cybersecurity professionals also earn six-figure salaries.

Earning a master’s degree in cybersecurity opens career opportunities as:

• Chief Information Security Officers
• Information security analysts
• Cybersecurity engineers

Expect to spend 12-18 months to earn it. Earn certifications, too, such as CompTIA Security+, to boost your career growth.

Master’s in Public Health (MPH)

Average Salary: $60,000-$120,000/year

If you want to become competitive in leadership roles, earn an MPH degree. Public health is among the fastest degrees for career transition, too. Programs with a time-to-completion of 12-24 months are common.

There’s a growing need for public health professionals, especially in post-pandemic times. The healthcare, public policy, and global health industries are notable employers. Common career paths include:

• Epidemiologists
• Healthcare administrators
• Public health analysts

Check out online and hybrid programs for maximum flexibility.

Master’s in Education (MEd)

Average Salary: $55,000-$100,000/year

If you want to become a teacher, school administrator, or curriculum developer, earn an MEd. This is among the best value degrees for mid-career professionals – high salaries, affordable cost. Holders make a smooth transition into teaching or educational leadership.

Candidates can work while studying. Find programs with flexible schedules and accelerated formats. Time-to-completion varies, usually 12-18 months.

Master’s in Healthcare Administration (MHA)

Average Salary: $80,000-$130,000/year

Healthcare managers and administrators are in high demand, too. With healthcare among the fastest-growing industries, strong job growth is guaranteed. Hospitals, clinics, insurance companies, and government agencies are popular workplaces.

Plus, many programs don’t require clinical experience. If you have a non-healthcare degree, such as in business or finance, you’re welcome.

Look for executive and online programs for flexibility and accessibility. Expect to earn your MHA degree in 12-24 months.

Online vs. In-Person Degrees – Which Is Best for Career Changers?

Most of the best ROI degrees for career changers are available in online format. Here’s how to make the right choice between online and in-person programs.

Advantages of Online Degrees

• Flexibility – Earn your degree while working full-time
• Cost-effective – Offers lower tuition and fees as well as fewer expenses
• Fast-track options – With accelerated formats for faster completion available

When In-Person is Better

• Hands-training is a must for professional licenses, such as engineering and nursing
• More extensive networking and career connections

Both are excellent options. You must choose based on your needs, goals, and choice of occupation.

How to Transition Careers Smoothly with a New Degree

Leverage transferable skills.

Your soft skills are valuable in every occupation. So, when you’re changing careers, identify your strongest soft skills.

Communication, leadership, teamwork, and problem-solving are valuable. Then, use them in your new career.

Choose the right degree format.

If you want to continue full-time or part-time employment, choose an online program. A hybrid program, which consists of online and in-person classes, is also an excellent option. If you want to use your current experience, go for a competency-based program.

Gain experience while studying.

Look for internships, apprenticeships, or freelance work. Hands-on skills boost practical skills and experience that employers prefer.

Minimize debt.

Use scholarships, grants, and employer tuition assistance. Better yet, choose quality yet low-cost programs.

Build a strong network.

Connect with professionals in your new industry. LinkedIn, networking events and alumni groups are excellent venues.

Conclusion

In conclusion, high ROI degrees offer strong salary growth and job stability. STEM, healthcare, business, and data-focused fields are among the best. But consider your cost, time investment, and career goals when selecting a degree.

With the right degree, you can make a successful transition into high-paying, fulfilling jobs.