Do you think that getting a great education is the key to career success? Well, you're wrong, what about experience! But, which matters most to you ?
For most professions, a strong educational background is a precursor to a lucrative career. However, as the data below suggests, salaries differ greatly depending on what kind of degree you hold, and from which college. As a general rule, a better education will result in a higher salary, but that’s not always the case. Sometimes, gaining experience is more important.
If you’re considering going to grad school, or even pursuing a Ph.D. you should try and figure out if it’s likely to pay off. Even if you get a Ph.D. there’s no guarantee that you’ll be making more than someone with a Master’s degree, especially in ten or twenty years. You could even wind up making less than someone with a Master’s degree who has the same amount of experience, as you can see at the bottom of the infographic under Economics degrees.
If your primary motive is the advancement of your career and potential earnings, you might want to double check on how much more you stand to make by sacrificing the time and money required to go back to college. Education can be incredibly expensive, so do your math and make sure the numbers add up.
The infographic below lists the average expected salary of graduates by college and major, and also shows how much experience will increase your salary over time in certain fields. Have a look at the quantified value of your degree and how it stacks up against other majors in your discipline.