How Does A Degree Impact Your Employability And Earning Potential?
Many people subscribe to the idea that a college degree pays for itself over time, but by how much? A lot of research shows that having a degree can make a difference in someone’s employability and earning potential. According to economists from the National Bureau of Economic Research, graduates are half as likely to be unemployed and can make over $1.2 million more than their peers who do not have a university degree.
Better Prospects
According to the same research paper, which examined over 30 million students from 1999 to 2011, people who completed at least one university degree earned about 84% more than those who did not graduate. This gap has continued to widen in recent years, with a 2015 university study predicting that the gap will have grown to over 90% by 2022.
According to the U.S. Bureau of Labor Statistics, incidences of poverty are 3.5 times less likely in people with at least one Bachelor’s degree. All these numbers tell us that a college degree makes a significant difference to a person’s prospects in life which are usually tied to being employed and earning enough to live a comfortable life.
It Depends On The Degree
The degree to which graduating affects your employment and earning potential depends on the program that a person completes. For example, it is fair to assume that someone with a computer science degree or degree in medicine will earn more than someone with an anthropology degree.
While it is not the only thing people should consider when choosing a degree, it is crucial to consider earning potential and the potential return on investment. Some studies have found that some degrees have a negative return on investment, meaning that they do not lead to a substantial enough increase in earning potential to be worth it.
Completing Your Degree
The good news is that there are many avenues to follow for those who still need to get a degree. If you enrolled in a program and did not complete it, you should consider online bachelor completion programs.
These programs are designed for busy adults as they are 100% online and allow for asynchronous learning. Students can transfer their credits from other universities and be set up with a personal success coach to guide them on the process. Students can also pick their specializations, allowing them to follow their interests and land better careers in the fields that appeal to them most.
Most Valuable Degrees
If you are still deciding on the right online degree to pursue, there are many great options to choose from. First, you are unlikely to go wrong with a degree in technology or business, such as computer science, data analytics, or business management and administration.
You will also not go wrong with a degree in the healthcare field, but nursing seems to be the most accessible to most people right now. Additionally, there is a high demand for nurses right now, and this demand is expected to continue for at least a decade due to an ongoing nursing shortage.
A college education is essential; a degree can significantly impact your employability and earning potential. You can complete an online degree at universities like Merrimack College which have numerous degrees and programs for you to choose to enroll in.
Additional Reading:
