Nowadays, at a time of continuing economic uneasiness and instability in global job markets, the debate whether higher education is a worthwhile investment dominates universally. According to a recent PEW study, the value of a college degree has become more salient than ever, as the opportunities that come with a college degree outnumber those with just a high school diploma.
How Rewarding is Higher Education?
The following findings reveal the extent to which a degree pays off today:
· People who possess a college degree are three times less likely to be unemployed compared to their non-graduate counterparts.
· Interestingly, the higher the degree is, the better the pay. People with a graduate degree may benefit up to $10,000 more than those with a Bachelors degree.
· Nowadays, a young college graduate can earn $17,500 more than someone with a high school degree.
· The poverty level for high school leavers was 22% in 2013 against 7% for college graduates.
It is clear that the higher you aim in higher education, the more lucrative your career will be. The most outstanding and remarkable highlight of the survey is the economic disparity between college graduates and people with a high school diploma. The same trend was also found in research carried out by the Department for Business, Innovation and Skills (BIS) which showed that UK graduates on average, earn around £200,000 more over a lifetime than non-graduates.
Check out this infographic by CareerGlider to find out more about the career value of college degrees in 2014. What is your opinion about the value of college degrees today? Do you have any insightful experiences to share? Please have your say in the comment section below.