Can the major you select for your undergraduate college experience strongly affect your income or success in life? My answer, from the perspective of a professional college counselor, would be, "Probably not." However, there seems to be a kind of consensus out there that makes a direct correlation between what you study in college and the likelihood of a "better" or "worse" life's work.
I'm probably an excellent example of putting the lie to "What you study determines your future" theory. I wanted to be a nuclear scientist when I was in high school and was all fired up about MIT. Then, as my scientific vigor waned, I became more and more confused about what to study when I went to college. So, more or less by default, I started out in Business Administration. My first semester freshman year was extremely frustrating, as I had to deal with balance sheets and the problems sets of basic accounting. I found my heart much more into my English and music courses. (Hint: those two areas are in the Top 10 of "worst" college majors, which I'll discuss down below.)