Studies Reveal Monetary Benefit to Having a Bachelor’s Degree

Elementary education

It’s no secret that in today’s competitive job market, having a college degree can really make a difference in whether or not a job candidate lands a job. Fortunately, there are many in-demand career fields that require popular degrees like an early education degree, psychology degree, communications degree, and many that even require masters degrees. That being said, some might argue that having a college degree today is more imperative than ever.

Not only do college degrees make job candidates more attractive to employees, but studies suggest that people who have at least a bachelor’s degree tend to make more than those who don’t. In fact, a Pew Research report found that those with a bachelor’s degrees earn about $45,500 annually, as opposed to $30,000 for those with associate’s degrees and $28,000 for those with only a high school diploma. So it literally pays to have a bachelor’s degree in today’s society. Need more proof? Well, in recent surveys, nearly 83% of respondents report feeling as if their degree has paid off and has put them on track for a successful future.

So what are students going to school for, and what are some of the better-paying industries to major in? For starters, popular majors tend to include English, history, business, and medicine. In total, about 11% of students graduate with a degree in history. However, it’s important to note that history and English majors don’t typically report high earnings. According to reports, an English major can expect a starting salary of around $36,200. That’s not a lot when you consider how high tuition costs have climbed over recent years. That low starting salary is also way below what college graduates make on average just starting out in their careers. According to studies, a majority of those with a bachelor’s degree can expect a starting yearly salary of $45,000, or $32.60 per hour, numbers that are more likely to climb at a steady rate than those who only have a high school degree or associates degree.

So even though studies suggest that a bachelor’s degree is worth it, students have to be smart about what field of study to pursue. Someone simply isn’t going to make the kind of money with an early education degree as they would with a degree in medicine.