Is A College Degree Worth It?: 5 Reasons to Go to College

In today's rapidly evolving job market, the debate surrounding the necessity of a college degree continues to intensify. With the rise of alternative education paths and the increasing costs of higher education, many individuals question whether investing time and money in a college degree is truly worth it. While getting a bachelor’s degree isn’t for everyone, understanding the importance of college degrees for employers and the pros of going to college, can help shed light on if a college degree is worth it.

Why Is a Bachelor’s Degree Important?

A bachelor's degree is more than just a piece of paper. It is a testament to the skills, knowledge, and discipline graduates have acquired over their years of study. It also acts as a crucial stepping stone on the path to further, more advanced learning opportunities such as a master’s degree. A bachelor’s degree can greatly amplify your career prospects, opening up a wider range of potential job opportunities and career paths.

Is College Necessary?: 5 Pros of Going to College

The value of a bachelor's degree can be measured in various ways, including earning potential, job opportunities, and personal growth. However, it's essential to remember that the worth of a degree is not strictly monetary. The skills, experiences, and relationships gained during a college journey often go beyond the measurable benefits. Some of the top reasons and benefits of going to college include:

Earning Potential

One of the most significant benefits of a college degree is increased earning potential. According to the National Center for Education Statistics, in 2021, those who obtained a bachelor’s degree earned 55% more than those with a high school diploma. The earnings gap between high school graduates and bachelor's degree holders continues to widen with the rising costs of living. According to the Bureau of Labor Statistics, in the third quarter of 2023, those holding a bachelor’s degree earned 76% more each week than their high school diploma counterparts.

Job Opportunities and Security

A college degree can also open doors to a broader range of job opportunities and greatly impact job security. A college degree unlocks a broader range of career opportunities. Employers often prioritize candidates with higher education qualifications when making hiring decisions. A degree acts as a gateway to professions that require specialized knowledge and skills, providing a competitive edge in the job market. This is especially important in a time where there are fewer job openings per applicant on LinkedIn than there were in 2022. Additionally, the unemployment rate for those who have attained a bachelor’s degree at the end of 2023 was twice as high for HS grads compared to college grads. This highlights the need for employees with more advanced education.

Expanded Skill Set

College is a platform where you can acquire a diverse set of skills. These skills can range from technical knowledge in your major to soft skills like communication, teamwork, and critical thinking. Oftentimes, these skills are transferable allowing you to obtain a job outside of the roles common in your major. College also provides students with access to career development resources such as resume writing, interview support, internship opportunities, and others that enhance your professional skill set.

Networking Opportunities

As the old saying goes, “It’s not what you know, it’s who you know.” College provides an environment where you can build a professional network. The relationships you form with classmates, professors, and alumni can lead to job opportunities and career advancement.

As you enter the job market, having a strong professional network can help you get in front of the right people early on in the application process, increasing your chances of landing the job. The network you cultivate in college can also provide references when your potential employer is making the final hiring decision.

Personal Development

Attending college provides a distinct and enriching environment that fosters personal growth and maturity. This educational setting introduces you to a diverse range of new concepts, varying cultures, and unique experiences. These encounters serve to expand your perspective, enrich your understanding of the world, and ultimately shape your worldview in a profound way.

Why Is a College Degree Important to Employers?

Employers value a college degree not just for the knowledge it signifies but also for the skills and attributes it represents. Here are a few reasons why a college degree is important to employers:

• Demonstrates commitment and persistence: Earning a degree requires a significant amount of time, effort, and perseverance. It demonstrates to employers that you are committed, can set long-term goals, and can work hard to achieve them.
• Indicates a broad base of knowledge: A college degree signifies you have a broad base of knowledge and can think critically. Employers value these skills as they are essential for problem-solving and decision-making.
• Showcases specialized skills: Many jobs require specialized skills that are obtained through college coursework. For example, jobs in engineering, finance, accounting, healthcare, information technology, and others require a bachelor's degree (or higher) to even apply.

Do You Need a College Degree to Be Successful?

Is a college degree the only pathway to success? Of course not. "Success" is entirely subjective anyway. But possessing a college degree has become basically a prerequisite to even apply for many positions in a wide range of industries. Sure, there are exceptions such as Bill Gates, who dropped out of college to start Microsoft.

But for those of us who aren't Bill Gates, a college degree provides entry, showing potential employers we can work hard, have a certain level of knowledge and skills, and can finish what we start. The examples we've shown throughout this piece quantify the value of a degree financially.Of course, a degree doesn't guarantee anything. You still must land the job, show up, and perform. Having a degree simply makes the possibilities that much easier to make reality.

Is a Bachelor’s Degree Worth It?

We've shown the value of a bachelor's degree when it comes to lifetime earnings, unemployment rates, and the like. It's not debatable. You can find a sea of studies by typing in "Value of a bachelor's degree vs. high school diploma" into Google.

But there are expenses to consider, in both money and time spent. It will take dedication, especially if you have a family and are returning to school. You'll probably take on some debt.

While weighing your decision, work through a few questions:

• Is my lack of a degree holding me back in my career?
• Is there a different career/industry I'd like to move into?
• Does entry into a field I'd like to work in require a bachelor's degree?
• Am I prepared for the challenge of juggling school work, family, work, and other commitments to attain my degree?
• Will a degree change my financial future?
• Can I see working at my current job/career the rest of my life, or would I like to make a change?
• Are there alternative paths such as bootcamps or certifications available that don't require a complete degree to gain the skills needed to move ahead at work?
• Does my employer offer tuition assistance?

Unlock the Benefits of a College Degree with UMass Global

A college degree can offer numerous benefits, including increased earning potential, better job opportunities, and personal growth. But this is a long-term, in many cases life-changing, benefit that will entail some immediate financial and personal stress. Who said changing your life was ever easy?

At UMass Global, we understand the value of a college education and strive to make it accessible to all students. We offer a variety of financial aid and scholarship options that can make our programs more affordable. With a variety of online bachelor's and master's degree programs designed to prepare students for success in today's competitive job market, we strive to turn your career aspirations into a reality. Request more information about our online degrees or apply today.