Tons of studies have been conducted to prove whether a bachelor’s degree really translates into higher income. And almost all concluded that having a college degree on your resume translates not only to getting a higher income, but also to having a wider range of employment opportunities. According to a report issued by the US Commerce Department’s Census Bureau, a high school graduate earns a total average of $1.2 million in his entire working life, while the average lifetime income of collge graduates falls at around $2.1 million.
Although these are just estimated figures, they’re enough to show how having a bachelor’s degree can instantly increase one’s income. Other reports conclude that a college graduate’s income is 60-70% higher than the average high school graduate. One should keep in mind, however, that even within these ranges and figures, there are still disparities and differences. So just because you have your college diploma tucked under your arm, it may not ALWAYS follow that you’ll get a higher base salary than your bachelor’s degree-lacking officemate. These conclusions also may not hold true in certain fields such as entrepreneurship or scientific inventions and discoveries.
College education = more knowledge
One of the main reasons why employers are willing to invest more in their degree-holding employees is because of the knowledge gained through college education. Take the field of electronics and technology, for example. Even though you’ve been tinkering with electronic gadgets your entire life, and know by heart how these things work, employers will tend to favor someone who spent his college years studying and applying computer networking systems theories. The specialized knowledge gained through college education is valued highly by employers because this will help their company develop systems to further improve their operations. College graduates are more bankable because they can share and contribute this knowledge to companies.
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