How do supply and demand create the stark differences in pay between high and low earning major?

Supply and demand significantly influence wage disparities between high and low-earning majors. Fields with high demand for skilled professionals but limited supply, such as technology or healthcare, tend to offer higher salaries to attract talent. Conversely, majors with an oversupply of graduates and lower demand, like certain liberal arts fields, often result in lower wages, as there are more candidates than available jobs. This imbalance leads to stark differences in pay across various disciplines.