Earning potential is determined by several factors. A college education increases one’s earning potential by eight to ten percent. Although starting salaries are different for each individual, an average college graduate earns 84% more than a person with a high school diploma. The exact figures vary based on the occupation, field, and individual skills. However, a college degree does provide a benchmark for earning potential.
Having a college education
According to a study, workers with a postsecondary degree have a $1 million higher earnings potential than those with only a high school diploma. Additionally, a college education can give you more career stability, as employees with a college degree are less susceptible to layoffs during recessions. According to Pew Research Center, 77% of workers with a postgraduate degree say their job gives them a sense of identity.
Getting involved in college
Getting involved in college is a wonderful way to build your resume, expand your social circle, and enhance your professional network. Instead of passively sitting through classes, get involved with your fellow students. Join a club, volunteer in the community, or join a professional society. You’ll meet other students with similar interests, and the contacts you make can lead to internships or real-world experience. Plus, you’ll be more likely to get hired after graduation, so there’s no harm in trying something new now!
Getting a bachelor’s degree
Whether you’re looking to improve your career prospects, get promoted, or simply set an example for your children, getting a bachelor’s degree can boost your earning potential. However, it can be challenging to balance work and school, and you should be committed to the process. The good news is that there are plenty of adult degree programs with flexible schedules and affordable tuition fees. You’ll want to find a program that fits your lifestyle and schedule, and that offers the support you need.
Paying off a college degree
Depending on the field in which you major, a college degree can boost your earning potential by thousands of dollars per year. For instance, a graduate of computer science with earnings at the 25th percentile can expect to pay over 10% of their earnings in their first two years of repayment. Similarly, a graduate in drama and theater arts could expect to pay over 10% of their earnings in their first two years of repayment.
Life expectancy after college
Life expectancy after college is higher among white men who completed at least a high school education. During the 1950s and 1960s, the life expectancy of white men with less than a high school education was 12.9 years shorter than those with more than 16 years of education. Despite overall improvements in life expectancy, the gap between white men with little education and those with more than 16 years of education remains large.