A College Degree Is The Key To Higher Earnings

When it comes to finding and maintaining a job, having a college degree is one way to gain and maintain an edge. On average, individuals who earn a degree enjoy advantages--ranging from better salaries to more job opportunities--over individuals with no college education. A college degree is not a guarantee that an individual will find their dream job, but a degree will help prepare the individual for career pursuits.

People attend college for a wide variety of reasons. Some of these reasons are personal--the pursuit of self-improvement or more education, perhaps--while others are universal, tied to the desire to enter an occupation or career in which a college degree is preferred or even required for employment. Although it is impossible to discern an individual's motivation for pursuing a college degree, one can be certain these degrees have quantifiable benefits including more career options, better promotion opportunities, higher earnings potential and lower unemployment rates.

Pursuing a college degree is an investment that can be both expensive and time consuming, but in the end, individuals who earn a college degree do so expecting to see a return on their investment. Individuals pursuing a college degree often focus on the long-term payoffs that a college education provides.

More Career Options
Many occupations are classified as "college preferred" meaning a college degree is helpful but not a requirement. There are also a number of occupations that only individuals with college degrees can hold. Some of these occupations may require additional education beyond a bachelor's degree, leading to a professional or graduate degree, as well a license to practice. These occupations include dentists, physicians, veterinarians, lawyers, teachers and faculty.

Better Promotion Opportunities
Job promotions are commonly based on an individual's quality of work, motivation and ability to thrive in the workplace. Supervisors often interpret pursuing or having a college degree as a sign that an individual is motivated, serious about their future, are capable of learning and can accomplish goals. Supervisors considering individuals for promotion are likely to look more favorably on individuals who have earned a college degree.

Higher Earnings
One of the most compelling reasons to pursue a college degree is the ability to earn a higher salary. According to the United States Census Bureau, among the top 25 percent of full-time wage and salary earners in 2000, 58 percent had a college degree. The median weekly earnings of workers aged 25 to 64 with a bachelor's degree was $834, compared with $507 for workers whose highest level of educational attainment was a high school diploma or equivalent.

Earnings increased for individuals with an advanced degree. Not all college graduates have higher earnings than their non-college educated counterparts but data show that a majority of college graduates earn more than individuals without a college degree.

Lower Unemployment
Individuals with college degrees are more likely to have a job than those with degrees and the unemployment rate is lower for individuals with more education. According to the United States Census Bureau, the unemployment rate in 2000 was 3.5 percent for workers aged 25 and over whose highest level of educational attainment was a high school diploma, compared with less than 1 percent for those who had either a professional or doctoral degree.

There are numerous reasons to earn a college degree, the most common of which is career planning. A college degree is a great asset in the workforce and individuals with a college degree will have more career options, better promotion opportunities, higher earnings and are less likely to experience unemployment.