A College Degree; Your Ticket to $1,000,000
United States Department of Labor 2004 statistics reveal that full time workers 25 years of age and older earn a median weekly salary of $676. Those without a high school diploma average nearly $300 a week less ($396). High school graduates with no college average $562, and college graduates holding at least a bachelors degree earn nearly $1000 weekly.
Workers with graduate degrees earned $1,149 per week, about $220 more than those with bachelors degrees only.
Other studies have determined that the income differential by educational attainment is even higher, with college graduates earning almost a million dollars more than high school graduates during their working lives. And, it seems likely that education level will have an even greater influence on earning power in the future.
According to The Washington Research Council, "During the next century, higher education will become increasingly important for landing high-paying jobs", and "It's widely believed that the 'new economy' will require increasingly higher levels of education."
Furthermore, in our increasingly competitive global economy, it seems highly likely that workers with bachelors, masters, professional, and doctoral degrees will suffer less unemployment and be less adversely impacted by the rise of economies overseas and the continued outsourcing of jobs. Yet, higher paying jobs and increased job security are not the only career-related rewards of higher education.
College graduates, overall, are happier with their jobs and careers than are other workers. That's because the better educated a worker is, the more likely he or she will qualify for promotions and/or new career opportunities. It stands to reason that people who are not trapped in dead end jobs will experience higher job satisfaction.
All available evidence points to the conclusion that bachelors and graduate degrees open the doors to substantially higher earnings, increased employment options, job advancement and job satisfaction. As more employers seek educated workers, as more workers realize the benefits of education, and as financial aid has become available to traditional college students and adults seeking online degrees, the number of college students, including working adults, continues to soar.
Whether earned online or on campus, in a part time program or a full time program, a college degree has never been worth more than it is today.
Daniel Kane is a university dean. Among his websites are one on the twenty best online colleges, and another on online education and online degrees.
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