Discover Your Healthcare Earning Potential
Georgia Price / AllHealthcare
It’s no surprise that the higher your college degree, the more money you can earn over your lifetime. However, many individuals have a hard time justifying the costs of a college education. Will I have to sacrifice my job to go back to school? How can I pursue my dreams and still take care of my family? Does a college degree really pay off? These, and many other, questions are on the minds of those looking to advance their careers and educations by returning to the classroom. Lets address each question individually:
Will I have to sacrifice my job to go back to school?
No. Today, colleges are more aware than ever of the many “non-traditional” students filling their hallways, or online courses. Because of this, part-time, distance-learning, and online programs make returning to school easier than ever. You can go to school on your own time – like at night, or on weekends – without leaving your stable job.
How can I pursue my dreams and still take care of my family?
Again, flexible education opportunities like online courses make this more feasible than ever. And not only are online and part-time programs convenient, they are also affordable.
Does a college degree really pay off?
This answer to this is a resounding, “Yes!” According to Sandy Baum, an economist at Skidmore College, a person will make between $400K and $600K more in their career if they have a college degree. This is quite a substantial sum. Depending on the degree you pursue, you can increase your earning potential 10% to 82%. And what’s more, you can expect to get a full return on your investment within 3 to 5 years.
Need some more concrete numbers?
Average annual salary with an Associate’s degree: $38,200
Average annual salary with a Bachelor’s degree: $52,200
Average annual salary with a Master’s degree: $62,300
Average annual salary with a Doctoral degree: $89,400
Average annual salary with a Professional degree: $109,600
Numbers are impressive, but it’s important to remember that there are plenty of non-monetary benefits to getting a college degree. According to Baum’s research, an individual with a college degree is more likely to have health insurance, report more satisfaction in their job, and make better decisions.