The Importance of Going to College
Other than your parents and teachers harping on the importance of a college education, why would a young person spend four years of his or her life attending a college? And, you must consider that the college tuition and room and board for many four-year institutions costs more than some houses. The average annual college tuition for a four-year public university is $7,020 per year, which does not include room and board.
The question remains, is the cost of time and money worth the sacrifice for a college degree? To answer this question, the earning power of a college graduate must be examined.
Earning Power of a C ollege Graduate
The earning power of a college graduate versus a high school graduate is different. And, yes, college graduates do make more money than non-college graduates.
However, there are many reasons that have nothing to do with the all mighty dollar, such as job satisfaction and quality of life. But, in these tough economic times, money talks and it is one of the top reasons why you should attend college and finish your college degree.
How Much More Money Do College Graduates Make in Comparison to High School Graduates?
Jason Chavis reports in the article, Salary Comparison of a College Grad to a Non-grad that the higher the degree and experience, the earning potential moves even higher. The general rule is that over a life-time, a college graduate can make over $2 million. A person who has no or little college can expect to make between $1 million to $1.5 million in earnings.
Of course, the amount of money that a college graduate makes in an entry level job really depends on the degree that he or she holds. A chemical engineer is going to make more than a high school chemistry teacher, such as $20,000 to $30,000 more. Chavis also reports in the article, Average College Grad Wage: Potential for Earning that the average annual salary is around $36,000 a year for a bachelor's degree. Of course, the higher the degree, such as a master's degree or a doctorate degree, the more a person will make.
Finding and Keeping a Job for a College Grad
Attending, finishing and paying for a college degree is just the first step to getting into a career that pays well and gives satisfaction to your life. One of the hardest parts today is landing your first job.
It is no secret that finding a job in hard economic times is downright tough. The job competition is fierce. When applying for a job, obviously a college graduate will be more qualified for a job than a non-college graduate for jobs in a profession. And, for those over 25, college graduates have a better chance of keeping their jobs.