The most important question you've asked here is:
"Should I care more about making money or doing something that I have a "passion" for?"
And my answer is: You should care about both, approximately equally.
I would advise that you don't ever choose something that makes you want to gouge your eyes out with a metal fork just because the average yearly salary is six or seven figures. Most likely the result will not be anything like what you are visualizing (eg. early retirement, actually having time to enjoy your money, reasonable mental and physical health...) . I suspect this kind of choice tends to lead either to dropping out of your major, and thus losing both time and money, or to far too much agony when you do enter the workforce. The more interest and enjoyment you get from your chosen field, the better. In a similar vein, be wary of fields that sound cool or tolerable if you have very little idea of what the work in them is actually like. If you have some familiarity with doing whatever is done in your chosen field, that helps a lot. I majored in Computer Science, but I had been programming as a hobby for many years before that, so I already kind of knew how I felt about it. I knew about the frustrating parts, but also knew that overall I enjoy it immensely. I would definitely recommend considering which hobbies you enjoy most when you think about what you want to major in.
On the other hand, I would not ignore the importance of money. Please consider: how much would you like to have the independence to make your own decisions, because your money is your own? For me, this was very important, so I was unwilling to go into a field where the average (the mode, not the mean or median) salary was small, or where money seemed to be very unreliably distributed. For example, some fields have a few very prominent successes who make crazy amounts of money and a large number of talented, hardworking individuals who make almost nothing. Do not assume you will be one of the few prominent successes, regardless of your talent or ability to work hard. Also consider how important financial security is to you. Even if you are well off now, circumstances can change. So try to choose something where you will be able to put some of your money aside into savings (I think the amounts most people advise for this always sound a bit low...). When I was younger, there were times that money was extremely tight for my family--I knew that wasn't how I wanted to live once I was an adult, because it always felt so financially insecure. On the other hand, some people thrive on very little money, so you will need to consider how much your temperament matches mine. This is not to say I didn't take great pride in spending as little money as possible--but this was largely because I wanted the number in my savings account to be as large as possible. Because I did take this into consideration, I don't currently have to worry about money or debt, which is rather nice.
So, that's my advice. Hope you found that helpful in some way. It did at least work for me. I have a career that I can actually enjoy doing, and I don't have to live in poverty.
N.B.: This discussion isn't up for mainstream article status, as far as I'm concerned (unless someone else wants to take it and run with it). I just didn't know how else to direct an important question to the LW community in general.
I'm currently a first-year university student in Vancouver, Canada, attending UBC. I have a trust fund and otherwise I will not need to worry about paying for my undergraduate degree. I am open to the idea of going to grad school. So, I have the luxury to take my time in my studies and there are lots of options I can choose from. Majors I'm considering are Cognitive Systems, Economics (and philosophy or math or stats), English, Philosophy and History of Science, Mathematical Sciences/CompSci, or Psychology. I'm open to other options. So, have at it with your suggestions.
Specific Questions:
Should I care more about making money or doing something that I have a "passion" for?
How will this allow me to maximize my production of utilons?
What else should I keep in mind?