Obtaining your
bachelor’s degree used to be a way for students to stand out from others in a
highly competitive job market. In the last five years, however,
the number of job postings requiring the minimum of a bachelor’s degree has
increased significantly. This new standard shows that job applicants
having a bachelor’s or an even higher education are becoming more common.
Does this mean
that a bachelor’s degree doesn’t have value? Is it even important in today’s
world of start-up entrepreneurs and self-employed business
owners? Is it a worthwhile investment considering that student loan debt may be
involved?
The answer,
ultimately, is that it really depends on you. Your unique life goals, including
your career aspirations, will determine if the bachelor’s degree
is a good fit.
Is
College Necessary for a Successful Future?
A common
question people tend to ask themselves when deciding whether or not to pursue a
college degree is, “Can I succeed without college?”
This question is
based on the various stories of Bill Gates, Steve Jobs, and other successful
business owners who did not acquire their college degrees.
However, these experiences are the exception and not the rule, bringing into
question if acquiring a degree is worth the investment for the
majority of people.
To make this
decision, it is important to know what you envision for your future career, the
range of skills you would need to succeed, and the life
experiences you would need to get there. The combination of all of these elements
will inform whether or not time in college would benefit your
professional journey.
If your ideal
career cannot be pursued without some sort of higher education, there is little
doubt that a college degree will provide the necessary resources
to succeed in that chosen profession. As mentioned above, the amount of people
with a bachelor’s degree or higher has significantly increased,
making a bachelor’s more of a necessity. This is why, for many people, earning
a college degree is important to their success in today’s job
market.
Let’s look at
the benefits of earning a bachelor’s degree, and how your personal educational
goals and lifestyle choices should be considered in making
this major decision.
1.
Increased Access to Job Opportunities
Having a
bachelor’s degree opens up rewarding opportunities that might have otherwise
been inaccessible. For example, college graduates see 57 percent
more job opportunities than non-graduates. A degree enables you to qualify for
these additional opportunities and offers you more flexibility
in where you choose to work.
Not only are
there more jobs available to degree holders than high school graduates, but the
existing jobs are also more accessible. According to a government
report focused on job market analytics, the total number of job postings
requiring a bachelor’s degree from 2019 to 2022 reached nearly
98.5 million.
For job seekers,
these online job postings are a primary tool for finding and applying to
available roles. While more than 80 percent of all job openings
for workers with a bachelor’s degree or higher are advertised online, only 50
percent of jobs requiring a high school diploma are posted online,
making it harder for these workers to connect with prospective employers.
Pursuing a college
education also expands your access to opportunities by connecting you to a
lifelong network of colleagues, advisors, professors,
and mentors. Over the course of your career, this network can open doors and
connect you to industry leaders with whom you can share
ideas and explore new ventures.
2.
Preparation for a Specialized Career
As the world
changes, the job market changes with it. Technology, education, and health are
three of the most rapidly growing fields for a good reason;
they evolve so often that only the most accomplished individuals can do the
work. Getting a bachelor’s degree will help you learn the specific
skills and habits needed to make a living in these areas.
While not all
degrees offer a direct route to a particular job (English, philosophy, or
political science, for example), many are created with a specific
career path in mind. An educational degree, for example, is designed as a
funnel for teaching jobs; some health degrees also have very specialized
jobs waiting at the end for those who complete them.
3.
Increased Marketability
Having a
bachelor’s degree will keep you in demand as the need for skilled,
college-educated workers continues to rise.
Over 80 percent
of jobs in four of the fastest-growing occupations—healthcare, STEM, education,
and government services—demand postsecondary
education.
On your path to
earning a bachelor’s degree, you’ll gain skills that will give you a
competitive advantage in the job market. Today’s employers are most interested in applicants with exceptional
communication, leadership, critical thinking, problem-solving, and analytical
skills.
In college,
you’ll have access to rigorous coursework and experiential learning
opportunities that will arm you with these skills to make you more attractive to employers.
4.
Increased Earning Potential
There is plenty
of data that suggests college graduate majors can expect their starting
salaries to increase over time, giving them hope for their future
earnings. The greater your level of education, the higher you can expect your
salary to be.
According to
government data, the average salary of a bachelor’s degree recipient is $67,500
per year. With the current national average just below
$56,000 per year, individuals with a bachelor’s degree are rewarded with higher
earning potential as compared to high school diploma and associate
degree recipients.
This trajectory
of bachelor’s degree graduates has been on an upward trend as well. According
to that same government report, from 2020 to 2022 the
average median salary of individuals with a bachelor’s degree increased by
nearly 20 percent.
5.
Economic Stability
Of the 11.6
million jobs created since 2010, over 8.4 million jobs—95 percent—have gone to
bachelor’s degree holders. Meanwhile, jobs for high school
graduates have only grown by 80,000. It makes sense, then, that bachelor’s
degree holders have a significantly lower rate of unemployment than high school graduates. As of 2022, the unemployment
rate for those older than 25 with bachelor’s degrees is 1.9 percent, while over
3.6 percent of high school graduates in that age range
remain unemployed.
Consequently,
individuals without a degree are three times more likely to be living in
poverty. According to Pew Research Center, only six percent
of bachelor’s degree holders live below the poverty line, while an alarming 22
percent of people without a college degree live in poverty. Earning
a bachelor’s degree will help afford you economic stability and security for
the future.
6.
Networking Opportunities
In today’s job
market, building and maintaining a professional network is critical to success.
Certain aspects of getting a degree, from interning to volunteering,
are designed to help you meet people who can help design your future.
Taking advantage
of the various job fairs and career development resources that college students
have available is a great way to put that degree to
work, as well.
When you get
ready to finish your degree and head out into the world, degree earners can
expect a level of support from their mentors and professors
that isn’t available anywhere else.
7.
A Pathway to Advancement
Have you
considered a career as a physical therapist, head librarian, or nurse
anesthetist? These popular jobs usually require a bachelor’s degree as the first step before going on to get another, more-advanced
degree.
You’ll also need
a bachelor’s before any Master’s or PhD, as well as the ever-popular MBA. Even
if you’re not sure you’re up for the entire career path,
earning a bachelor’s degree now puts you in the driver’s seat should you decide
to pursue it later.
8.
Personal Growth and Improved Self-Esteem
If you aren’t
looking for the type of career that often comes from a four-year education, you
may be questioning the value of a bachelor’s degree. There’s
more to it than the paper, however; many students have found the experience to
be deeply and personally rewarding, as well. In addition to
gaining skills like writing, time-management, and working on a team, there are
opportunities to polish presentation skills and interact with professors
and students who will, later on, become part of your valuable career network.
Earning a degree
is empowering; it boosts confidence and provides a sense of achievement. The
pursuit of higher education also equips you to master
complex challenges and overcome adversity, contributing to increased happiness
and reduced stress. This may be why bachelor’s degree holders
report higher levels of self-esteem than high school graduates.
College
graduates are also more likely to be involved in their communities. Compared to
non-degree holders, they are more likely to vote, volunteer,
donate to charities, join community organizations, and participate in
educational activities with their children. As more active citizens, bachelor’s degree holders contribute to a stronger, more
engaged community to provide opportunities for future generations.
9.
Higher Job Satisfaction
Research shows
that having a bachelor’s degree leads to greater long-term job satisfaction.
The differences between degree and non-degree holders
are stark:
Eighty-six
percent of college graduates consider their job a career or a stepping stone to
their career, while only 57 percent of high school graduates
say the same.
The majority of
bachelor’s degree holders—60 percent—say they are highly satisfied and their
job is more than just a paycheck. Only 38 percent of
degree holders report the same level of satisfaction.
Forty-two
percent of high school graduates say their job is “just to get them by,”
compared to 14 percent of bachelor’s degree holders.
Bachelor’s
degree holders also enjoy more on-the-job perks that contribute to a sense of
career satisfaction. In fact, 52 percent of full-time workers
with a degree were offered retirement benefits, compared to only 43 percent of
individuals without a degree.
10.
Positive Return on Investment
The cost of a
degree may be daunting, especially with many students on the news sharing
student loan woes and not feeling like the job market is friendly
to their specific degree. While no one can argue that some degrees aren’t that
easy to employ, many college grads are finding the ROI of a
bachelor’s degree to be positive.
Young adults
express that their degrees are a good value, with 72 percent believing that
their degree has paid off, and an additional 17 percent believing
that it will very soon. This trend stays steady among those who borrowed for
school, as well. Plus, there are many programs available to help
pay for higher education; scholarships, grants and tuition reimbursement
programs are all designed to help students avoid debt
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