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Career Tips

Is a College Education Worth the Money?

Kitchen on George

Many high school graduates pass on a college education because they are ready to start receiving a paycheck immediately. The value of continuing education is often questioned due to the rising cost of college, but surveys consistently reveal that a college education increases salaries. Still, the U.S. Census Bureau reports that only 60% of high school seniors advance to a college degree.

Between the ages of 18 and 22, those with only a high school diploma are earning more than their college counterparts. The reason? Traditionally, most college students don't work full time. But long-term, statistics show higher education leads to higher salaries and more job security. Here are points to consider:

  • In 2015, median weekly earnings for high school graduates were $678, while a college graduate income was $1137. (U.S. Bureau of Labor) That's more than $22,000 a year more for those with college degrees.
  • College graduates start with a higher income level.
  • The unemployment rate for those with a high school diploma was 5.4%, as opposed to 2.8% with a bachelor's degree. The rate gets even lower with advanced degrees. (U.S. Bureau of Labor)
  • Employers screen applicants based on education, giving an advantage for college graduate job seekers.
  • For management positions, companies often consider college graduates for career advancement.
  • Many companies also require that personnel have specialized technical skills.

Is it time to consider furthering your education? Check out the affordable online business degree programs available from New England College of Business.

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