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If you’re on the fence about pursuing higher education, you’re probably wondering about the benefits of a college degree, including the value of a college degree.
Is a college degree still worth it? Is college a good investment? According to recent studies, the answer is a resounding yes.
The Value of a College Degree
Earning a degree is an investment of both your time and money, but it is one that pays off in many ways, including professionally, financially, and personally.
What are some of the main benefits of a college degree?
College graduates have higher paychecks.
According to the U.S. Bureau of Labor Statistics, those with a bachelor’s degree earned 61% more per week ($1,066) in 2012 than those with only a high school diploma ($652 per week). That number jumps even higher for those holding a master’s degree: $1,300 per week, twice as much as those with a high school–level education.
The disparity in pay is even higher when broken down into hourly wages, according to recent data from the Economic Policy Institute.
College graduates enjoy greater job security.
A college degree can also translate into greater job security. According to a Pew Research Center report released in 2014, those with just a high school diploma were unemployed at a rate of 12.2%—more than three times greater than that of college graduates (3.8%).
College graduates earn more over a lifetime.
Still not sure if a college degree is worth it? Maybe this statistic will change your mind:
A Federal Reserve Bank of New York report released in June 2014 found that an individual with a bachelor’s degree will earn approximately $1.2 million more between the ages of 22 and 64 than those with only a high school diploma.
College graduates enjoy greater career opportunities.
Another benefit of a college degree? More career opportunities. A college degree opens up a world of employment options unavailable to those with only a high school diploma. The value of a college degree doesn’t stop at career diversity and advancement. A higher education allows you to better yourself, achieve your academic goals, and reach your highest potential.
Interested in learning more about investing in yourself—and your future—with a college degree? Watch this quick video on the value of a college degree now.