The world is changing rapidly. With entrepreneurship and the digital economy disrupting conventional career paths, some feel that college degrees are becoming less important. Is this fact or fiction? And is a bachelor’s degree still a worthwhile investment in this day and age?
Increased Access to Jobs
In previous generations, you could earn a middle-class income without a college education. However, these positions are rapidly disappearing due to automation. Today, it is near impossible to get an assembly line or basic warehouse position that will cover your rent or mortgage. Unless you are planning to take up a trade apprenticeship, a degree is your best bet.
Having a degree will open up the doors to more job opportunities in this competitive world. Two-thirds of all jobs now require post-secondary education. And with the demand for trained talent increasing, this proportion is expected to rise. Along with more opportunities comes the flexibility to choose a job that is more suitable for you.
Jobs with lower requirements are often not posted online, so it is harder for you to find a job outside of your immediate vicinity. On the contrary, jobs targeted at people with higher qualifications are more likely to be posted online, This allows you the option of moving to a different town, city, or even country in pursuit of greater career prospects.
Better Salary & Stability
People with a bachelor’s degree earn considerably more than those without. According to the Bureau of Labor Statistics, the median weekly salary for workers with a high school diploma is $831, while that of workers holding at least a bachelor’s degree is $1,467. This adds up to thousands more in earnings each year and hundreds of thousands throughout a career.
Although a bachelor’s degree can cost a significant sum, you may be surprised at how fast you can make a return on your investment. Companies want to avoid additional training and are more inclined to promote someone with a degree. Your increased earning potential as you move up in the ranks will enable you to repay your loan and save money quicker.
Statistics show that workers without a college or university degree experience a higher unemployment rate. They are also prone to be hired on a casual basis, awarded fewer employment benefits, and be made redundant in times of trouble. By obtaining a bachelor’s degree, you earn the advantage of job stability and peace of mind to focus on building your life.
Gain Valuable Experience
If you are interested in a specialized vocation, enrolling in higher education is sometimes the only pathway. Jobs in the medical and law profession, for instance, require you to have a bachelor’s degree at the very least. Because these fields are extremely complicated and technical, you cannot enter them without the minimum years of training.
Without participating in a higher education program, you will not be able to access the various internships and work placements that are essential to gaining real-life experience in the field. Education resources such as academic journals, textbooks, and case studies are sometimes only accessible to students and professionals in the industry.
Undertaking a bachelor’s degree allows you to learn from leaders with proven experience. The lecturers and tutors in college or university are experts in their field and can impart valuable knowledge that cannot be found in books. You also gain job recommendations and connections with key industry players through their established network.
Done With Debt
Despite all the benefits of a bachelor’s degree, debt remains a daunting factor. The costs of higher education have been on the rise and most people have to take out a student loan to cover their tuition fees. Depending on your repayment plan, you could be paying off your loan for up to 30 years, negatively impacting your other financial goals.
If you are unable to pay your private student loans, you may be faced with aggressive debt collectors, credit rating penalties, and even lawsuits. Instead of letting life grind to a halt, student loan negotiators such as My Credit Counselor can help you to reach a settlement. Settling your accounts before a lawsuit occurs is the best way to protect your reputation.
While it is ideal to pay off your student debt, the pandemic years have been hard on many people. Skilled settlement negotiators can achieve astonishing reductions on loan amounts and allow you to be rid of your debt once and for all. They can help you to rebuild your credit rating as well—an important step for your long-term life goals.
Unless you are planning to be an entrepreneur or a tradesman, getting a bachelor’s degree remains a crucial step to building a successful and lasting career. The experience and connections that you gain are priceless. If you want to start the race ahead of the pack and access more chances to better yourself, a bachelor’s degree is a worthwhile pursuit.