A college education is widely recognized as a gateway to economic opportunity and intergenerational mobility in the United States. Children from households with highly educated parents are three times more likely to get a Bachelor's degree than children from households in which the parents did not attend college. Today, at least some postsecondary education is a baseline requirement for anyone who aspires to enter the middle class. Deeper research has demonstrated that it is not just the college degree that matters; labor market outcomes also are tightly tied to what one studies and what job one gets. This report on The University of Texas System (UT System) Bachelor's degree recipients demonstrates that college, as one of the first big investment decisions a young person makes, has lifelong economic consequences. As is the case in the Center on Education and the Workforce's national research, the major that UT System graduates pursued in college is the biggest predictor of wage outcomes. Moreover, UT System graduates earn more, on average, than Bachelor's recipients nationally, as well as those currently working in Texas. Six key findings from the report are: (1) A UT System education is a worthwhile investment; (2) Major matters most; (3) Choice of major outweighs institutional selectivity; (4) All UT System graduates earned a wage premium, including students who received Pell Grants; (5) Access to particular occupations after college matters when examining earnings disparities by race or ethnicity; and (6) Women initially outearn men in majors dominated by women, but fall behind men over time. [This report was prepared in partnership with The University of Texas System.]