CollegeRank.net

Best College Rankings

Maximizing College ROI with Minors and Dual Majors

Quick Highlights:

  • Enrolling in dual majors or adding a minor can increase your college ROI without raising tuition costs significantly.
  • Choosing complementary majors and aligning them with career goals optimizes both education time and potential earnings.
  • Researching the market demand and potential salaries for different majors can help you make a solid investment.
  • Be mindful of financial aid limits when extending education duration with dual majors or minors.

Table of contents

While going to college generally offers an excellent return on your investment (ROI), certain majors and minors offer a better return. You can maximize your college ROI by enrolling in dual majors and academic minors. Since you already have to pay tuition costs for four years of school, you may as well devote some of these credits to getting an extra major or minor. 

To figure out which minor or major is the right option, you can look at the average starting salaries for different programs. This is a particularly good option if your main major is not financially lucrative. By choosing a backup major or minor, you can make sure that you get a decent ROI from your studies. 

Related:

The Value of Minors and Dual Majors

A major is the specific subject you focus on during your college degree. If your entire bachelor’s degree requires 180 credits of coursework, you will typically have to devote 60 credits to classes that are in your major. 

Normally, students only study one major during their bachelor’s degree. However, it is possible to enroll in dual majors. Also known as a double major, this option means you are fulfilling all of the requirements of two majors at the same time. You basically have to get 60 credits to satisfy one major’s requirements and another 60 credits to satisfy the requirements of the other major. 

This doesn’t have to be as challenging as it sounds. Some of the credits for your dual major can overlap with your general education requirements and your other major. 

For example, business administration requires multiple economic classes, and you also get to pick some electives to satisfy the degree’s requirements. The same thing is true for economics. By picking complementary majors, you can make it easier to fulfill the requirements of both programs. Instead of taking 120 credits in two different majors, you may be able to take as little as 80 credits of coursework. 

Meanwhile, academic minors are courses you take that require fewer classes than a major. Most colleges don’t require a minor, but you do have to pick a major in order to graduate. By getting a minor, you can increase the marketability of your degree and gain extra skills. 

The choices you make in college can significantly affect your success in the job market. Each major is designed for different career tracks, so you should pick your major wisely. Academic minors function in a similar way, although they are less effective than majors in getting jobs because they are less intensive.  

Assessing the Investment

One of the most important things to remember when you calculate the college ROI is that dual majors and academic minors won’t necessarily lead to higher tuition costs. If you plan out all of the coursework in your majors and minors before you start school, you can often incorporate these classes into your general education requirements and normal coursework.  

Even if none of the classes overlap, your degree won’t take significantly longer. You already have to complete your general education requirements for one college major, so you won’t have to repeat them for your second major. Additionally, many students who get dual majors don’t pursue a minor, so a large portion of your dual major’s credits are taken up by credits you would have spent on getting a minor.

While a double major won’t take significantly longer, it can require a few more months of school. The amount of time depends on how many of the classes overlap in your major. Typically, you can expect to spend six months to a year longer in school. 

Meanwhile, academic minors are normally incorporated into your existing curriculum. A minor typically requires at least 18 credits, but it can often involve 30 credits of coursework. You will normally have to complete a couple of advanced classes in order to satisfy your minor requirements. In some cases, the classes you take during your general education requirements can double as classes that satisfy your minor requirements as well. 

If your minor or double major doesn’t require any additional time at school, it might not cost more in tuition. According to US News, as an in-state resident at a public school, you can expect to pay $10,662 in tuition. This means you can expect to pay an extra $3,554 for every additional quarter you have to stay in school. 

Additionally, you should also consider the impact that a double major or minor has on your financial aid. For instance, you are only allowed to receive the Pell Grant for 12 full-time terms. This is about six years of school. If a double major or a minor makes schooling last longer than six years, you will run out of financial aid funds. 

Strategic Selection of Minors and Dual Majors

To avoid running out of money for school, you should be strategic about the way you choose your dual majors and academic minors. Even if you don’t run out of financial aid, there is an opportunity cost connected to your time. Each quarter you spend in school is another quarter where you aren’t earning money and developing your career, so it is important to consider how long your academic program will take. 

Pick Complementary Majors and Minors 

To enjoy the benefits of a double major or minor without significant drawbacks, start by selecting complementary majors. If the majors overlap, then you won’t have to take completely new coursework to get each major. Instead, many of your prerequisites will already be complete. 

Align Your Major and Minors with Your Career Aspirations 

To maximize college ROI, you should consider the way your double minor or major aligns with your career goals. If you want to become a computer engineer, a double major in art history is unlikely to be particularly helpful. However, your art history background may be useful if you plan on pursuing a career using computer programs to decode the drawings underneath famous works of art. 

Check the Market Demand 

If you aren’t sure what you want to do, pick an affordable school and research the market demand for different majors. For example, data from Indeed indicates that engineering majors can expect to earn an average salary of $73,922. In comparison, someone who majors in the humanities will typically earn $50,681 per year. 

The ROI in Various Fields

To calculate your college ROI, you have to consider the cost of your degree and what you can expect to earn after you graduate. The following list includes some of the most common starting salaries for different majors based on data from the National Association of Colleges and Employers.

  • Software Engineering: $83,991
  • Chemical Engineering: $78,910
  • Mechanical Engineer: $77,195
  • Nuclear Engineering: $76,320
  • Mathematics and Statistics: $71,951
  • Environmental Engineering: $70,728
  • Biomedical Engineering: $70,430
  • Chemistry: $69,464
  • Environmental Science: $67,158
  • Economics: $67,403
  • Psychology: $65,409
  • Geology: $65,753
  • Finance: $63,815
  • Marketing: $62,636
  • Accounting: $62,878
  • Business Administration: $62,490
  • Biology: $61,636
  • International Business: $60,733
  • Political Science: $60,029
  • Sociology: $55,568
  • English Language and Literature: $54,788
  • Philosophy: $54,507
  • Visual and Performing Arts: $51,135
  • Art and Gender Studies: $51,135
  • Foreign Language and Literature: $51,135
  • History: $51,799

Other than considering the college ROI and starting salaries, you should also take some time to investigate the career outlook for the degree. For example, the Bureau of Labor Statistics says that roles as nurse practitioners are expected to grow by 46% and wind turbine service technicians by 60% from 2023 to 2033.

But the numbers don’t lie, one of the best choices you can make for an ROI-positive college education is to major in a field of engineering, or supplement another major with at least a minor in engineering. Though compared to a major, it should be mentioned that a minor in engineering alone may not be as effective as leading into the engineering job market.

Beyond Financial ROI

Beyond learning the answer to, “What is the benefit of having a minor in college?”, it is important to consider the non-financial benefits of a minor or major. For example, some people pursue a degree in humanities that they are passionate about and get a double major in an industry that they know pays well. By doing this, they are able to fulfill their career goals while improving their personal growth and intellectual fulfillment. 

Pursuing a different major allows you to interact with a different group of people, so it can increase your professional network. Often, the interdisciplinary skills and diverse knowledge you gain from double majors also help you become better at solving complex problems. 

Navigating Challenges 

To enjoy the benefits of a double major, you must become adept at handling the challenges as well. Majoring in two subjects requires excellent workload management, so you must be able to budget your time wisely. Because this decision involves more stress, you should also develop good coping mechanisms and stress-management skills. To succeed, remember the following tips. 

  • Reach out to your college’s mental health services for support. 
  • The college’s tutoring center can help you when you struggle in your classes. 
  • Do the hardest subject first while your mind is still fresh. 
  • Incorporate your major’s requirements into your prerequisites so that you don’t have to take as many classes. 
  • Plan for dual majors early so that you can start taking the right classes immediately. 
  • Start reading your textbooks before school starts so that you have less work to do later on. 
  • Try using books on tape if they’re available for your coursework so that you can learn while you are doing other activities.

FAQs: Majors, Minors, and ROI

Let’s address some lingering questions you may have about delcaring college majors and/or minors.

1. Does adding a minor increase tuition costs?

Answer: In most cases, adding a minor does not increase tuition costs if you complete it within your standard credit load (typically 120–128 credits for a bachelor’s degree) and graduate on time. At flat-rate tuition schools, where you pay a set amount for 12–18 credits per semester, a minor fits within that cost.

However, if the minor requires extra credits beyond your degree requirements or extends your time in school (e.g., an additional semester), you could incur additional tuition and fees. Always check your school’s policy—some may charge per credit if you exceed a threshold (e.g., 18 credits per semester).

2. Can I double-major and still graduate in four years?

Answer: Yes, it’s possible to double-major and graduate in four years, but it requires careful planning. You’ll need to overlap courses that satisfy requirements for both majors and general education, take a heavier course load (15–18 credits per semester), or use summer sessions. The feasibility depends on the majors’ credit requirements and scheduling conflicts—related fields (e.g., Economics and Finance) are easier than divergent ones (e.g., Biology and Music). Meet with an academic advisor early to map it out and avoid delays.

3. What’s the difference between a double major and a major with a minor?

Answer: A double major means you complete the full requirements for two separate majors (e.g., 30–40 credits each), earning one degree with two equal fields listed (e.g., B.A. in History and Sociology). A major with a minor involves completing one primary major (30–40 credits) and a smaller, secondary focus (15–20 credits), with the minor as a complement (e.g., B.S. in Biology with a Chemistry minor). Double majors signal deeper expertise in two areas; a minor adds breadth without the same workload.

4. Does double-majoring or adding a minor improve job prospects?

Answer: It can, but it depends on the fields and your career goals. Double-majoring in complementary areas (e.g., Computer Science and Business) or a minor that enhances your major (e.g., Psychology major, Statistics minor) can make you more versatile and attractive to employers.

Data from the National Association of Colleges and Employers (NACE) suggests interdisciplinary skills boost starting salaries by 5–10% in some fields. However, employers often prioritize experience (e.g., internships) over extra credentials, so balance academics with practical opportunities.

5. How do I declare a double major or minor?

Answer: The process varies by school, but typically, you declare a double major or minor through your academic advisor or registrar’s office. For a double major, you might need to submit a form after completing introductory courses in both fields, often by your sophomore or junior year.

Minors are usually simpler—some schools let you declare anytime before graduation, while others require a minimum GPA (e.g., 2.0–3.0) or advisor approval. Check your college’s deadlines and prerequisites in the academic catalog or online portal.

6. Can I double-major across different colleges within my university (e.g., Arts and Sciences vs. Engineering)?

Answer: Yes, many universities allow double-majoring across colleges (e.g., a B.A. in English from Arts and Sciences and a B.S. in Mechanical Engineering), but it’s more challenging. You’ll need to meet the requirements of both colleges, which may have different general education rules, credit totals, or tuition rates (e.g., Engineering often costs more).

Some schools offer dual-degree programs for this (e.g., B.A./B.S.), which might take 5 years. Confirm policies with both colleges’ advisors to avoid surprises.