Summary:
While higher education is valuable in and of itself, it does not guarantee financial rewards. This article examines a few reasons why getting a degree solely to get a higher salary is not always a wise decision.

Details or Sample:
The idea of getting a college education for the sake of learning how to think has become passé. Now, young people see college as an investment, thinking, “If I (or my parents) pay to earn a degree now, I can make more money later.” In many cases, the investment pays off. Most high-paying jobs require degrees, and within industries, those with degrees are often paid more than those without.

But is college always something worth what you pay for it? Some people still hold the old-fashioned notion that an education for the sake of education is worthwhile, but if you are someone who doesn’t enjoy formal learning and you are getting a degree only for financial gain, consider whether you would be better off investing your money in something other than an education. Here’s why:

Some jobs that pay well do not require a college education. Even college students with declared majors may find that their chosen careers are not exactly what they expected. For example, an electrical engineering student may realize that he doesn’t really want to be an electrical engineer; he wants to be an electrician. If he continues in the degree program to become an engineer, he could still change his career, but he would be a few years behind in experience for the job and out more than a few dollars for his engineering degree. The average salary for electricians hovers around $50,000, depending on the area, which is more than the salaries of many people with degrees.

High school students inclined to learn a trade may find that a vocational-technical school and apprenticeship programs would more than adequately prepare them for a career that will earn them a decent wage. Many industrial areas also have one or two factories that are known for paying well. The competition to get a job at one of these factories is often fierce, but workers with a high school diploma or GED can easily make as much as many of their college-educated neighbors.

Wealth doesn’t always come from employers, either. When researching The Millionaire Next Door, Thomas J. Stanley and William Danko found that 2/3 of millionaires were self-employed at a time when self-employed people made up only 20% of the population. With some exceptions (physicians, lawyers, and ministers in denominations that require divinity degrees are three), few people need a degree to work for themselves. Self-starters likely to become entrepreneurs should be capable of teaching themselves nearly everything they need to know to run a business well and to invest their profits wisely. A degree could be handy, though, to make money working for someone else so that you can save enough to start your own business.

On the opposite end of jobs that pay well for those without degrees are jobs that . . .

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Downloads: 0
Written by: Shannon Christman
Available File Types:Text
Words: 928