You might be wondering if it is worth it to go back to school to complete your bachelor’s degree. Should I go to school and obtain a bachelor’s degree?. On this page, we will point out why it is very important you earn a bachelor’s degree.
What is a bachelor’s degree?
A bachelor’s degree or baccalaureate is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to seven years.
Is there a difference between a bachelor’s degree and a baccalaureate degree?
Difference between bachelor’s degree and baccalaureate. Actually, there is no difference between a bachelor’s and baccalaureate degree. Both of these terms refer to the same thing, that is, the first or lowest academic degree that is conferred by a university or college.
Do you own a high school certificate or a National Diploma or Higher National Diploma and you’re wondering if you should enroll for a bachelor’s degree program…Here are a few reasons why many people choose to pursue a bachelor’s degree, and maybe some of them will speak to you, too!
• Career Opportunities – A bachelor’s degree opens up numerous career opportunities.
• Graduates can work in business, leadership, technology, companies, organization and more.
• Career Advancement – Not only does a bachelor’s degree open up more career opportunities than a high school diploma alone, they also allow graduates to move up the ranks more quickly.
• Earning Potential – Better pay is another benefit of earning a bachelor’s degree. According to the US Bureau of Labor Statistics, bachelor’s degree holders typically make an average of $17,628 more annually than associate degree holders and $23,256 more annually than people with just a high school diploma.
• You’ll be more likely to have a job.
Despite the recent recession, college graduates are more likely to be employed than their less educated peers. Only 3.8 percent of bachelor’s degree graduates are unemployed, compared with 12.2 percent of high school graduates and 8.1 percent of students with some college or a two year degree.
In addition, college graduates find jobs faster than high school graduates in 27 weeks versus 31 weeks.
Because of this increased likelihood of employment in better paying jobs, college graduates are less likely to live in poverty. While the incidence of poverty has risen among all young adults in recent years, only 6 percent of college graduates live in poverty, while 22 percent of high school graduates do.
• Your employer is more likely to offer a retirement plan.
According to the Pew Research survey, 61 percent of colleges educated millennial worked for an employer with a retirement plan, while only 36 percent of high schools educated millennial worked for an employer offering a pension plan.
• You’ll be more satisfied with your work.
College-educated young adults were more likely to view their current job as part of a career track (86 percent) compared to high school-educated young adults (57 percent). In addition, 53 percent of college graduates in their 20s and 30s said they were “very satisfied” with their work, compared to 37 percent of high school graduates.
Satisfaction and income can vary by college major:
- Students who majored in engineering or the sciences, as well as in business, are more likely to be employed in a job “very closely” related to their field of study.
- Nearly 70 percent of college graduates said their field of study is at least somewhat related to the job they are now doing.
- More than half of college graduates who have family incomes higher than $100,000 said their current job is very closely connected to their major.
• Your time and money spent on a degree will be worth it.
According to the Pew Research study, all generations millennial, Gen Xers, and baby boomers agree their education was worth it.
Graduates at both public and private universities have similar satisfaction levels in terms of the value of their education. Specifically, 91 percent of recent college graduates say their degree has already paid off or will pay off in the future.
In addition, the Federal Reserve Bank study concluded, “investing in a college education still appears to be a wise economic decision for the average person”. The study showed that the return on investment for a bachelor’s degree has remained a steady 15 percent throughout the past decade. Return rates were highest for majors requiring quantitative and analytical skills (such as engineering and math), as well as for majors in business and health professions.
So if you are looking for more career opportunities, more room for advancement and better pay, getting your bachelor’s degree might be a great idea!