Think Big Picture
One of the first things that one should do when deciding on a degree choice is to think about where you want to be 5, 10 and even 20 years down the line. If you know you want to be the CEO of an internet company 10 years from now, majoring in drama, while fun, might not be the best choice. Likewise if you want to be a doctor, choosing an English major obviously isn't going to be leading you in the right direction.
This might seem obvious, but you'd be surprised how many students actually have a very good idea of what they want to do after college yet don't think about what classes and undergraduate major they need to do today in order to qualify and prepare them for what they want to do after or to get into the right graduate program. If you have a specific goal in mind for a career, it is important to do your research and find out from established professionals that already are successful in that career exactly what their path was.
In some cases, such as the path of 'professional' careers such as being a lawyer or doctor, this is obvious. But in others it might not be. For instance, how does one become a nuclear physicist? How about a film director? A real estate developer or entrepreneur? There are many fascinating and exciting career choices that don't have an obvious path and it's best to do your 'homework' to figure out that path now when you're just starting out so you don't go in the wrong direction.
Do What You Love
I'm a firm believer in this statement. Each of us has our own natural strengths, abilities and talents. While there are some people that have families or parents that insist they take part in a particular course of study even if they don't want to, in my experience this rarely works out. Eventually, unless you really want something for yourself you'll either sabotage yourself or be miserable in what you're doing.
By doing what you love you accomplish a few things. First of all you ensure you'll enjoy what you're studying so even hard work won't seem like a chore. Second, you'll prevent having regrets and won't be a 40 or 50 year old looking back and saying 'if only I had studied that'. Third, by doing what you love you already know you have the natural ability and mindset to do well in that field or else you would have already found it a struggle and lost interest.
What Comes Naturally?
What if you're not one of those people that have a burning passion in one area and haven't known what you want to do since you were a kid? What if you need to figure out a 'practical' career? Most students fall into this category and the best way to approach figuring out what to major in is to keep these two things in mind. What are you naturally good at and where do you see yourself in 10 years?
Are you the kind of person that gets along easily with other people or do you prefer to be alone? Are you competitive and love the pressure of competition or do you prefer to work at your own pace? Are you an intellectual that loves to read and delve into subjects or do you prefer to learn a little about lots of things? By asking yourself these kinds of questions and then comparing them to the daily job experience of various careers you can start to get a picture of what careers you could see yourself working in. Once you know this you simply work backwards and figure out what degree will best prepare you for that career. Again, you'll need to do your 'homework' as to the path of that career.
There are many different 'theories' of how to go about choosing a career. There are career 'tests' you can take and guidance counselors to talk to. Obviously, speaking with friends and relatives and parents can also expose you to different ideas for careers. Most of all, try to find something that feels natural and is something you enjoy. It is after all, what you'll be spending the most time studying for the next few years.
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