How a College Degree Improves Employment and Earnings

A college degree prepares graduates intellectually and socially to experience adulthood and meet the challenges of starting a career.  

College graduates reap the benefits of their hard work by being exposed to new and exciting job opportunities, better paying careers, and higher-skilled careers which, according to research, can lead to greater happiness and stability in life. Continue reading to learn what makes earning a college degree worthwhile.  

Knowing how a college degree can enrich a person’s life is an important step in the higher education journey. Completing a post-secondary degree, whether it’s a bachelor’s, master’s, or Ph.D., is the most common route people take to careers with higher or specialized skills requirements and increased earning potential. A student’s life can also be enriched by studying courses that they’re passionate about, making networking connections, and using the knowledge they gain to make an impact in the industry they work in.  

According to the U.S. Bureau of Labor Statistics, people with bachelor’s degrees earn about 65% more per week than those with just a high school diploma. Also, unemployment among high school graduates is almost twice as high as that of individuals with a college degree. Earning potential for college graduates varies based on industry, and students pursuing their degree benefit from learning which fields are in high demand and pay the best salaries. 

In addition to increased earning potential, college graduates can qualify for employer-sponsored health insurance for themselves and their families, retirement and investment plans, travel opportunities, and other types of compensation beyond wages and salary.  

The benefits of earning a degree also extend to future generations because families of college graduates are better off economically and socially. In addition, children of college graduates are more likely to pursue higher education, so a college education can also be an investment into the future of your family. 

Because a college education offers students the ability to learn a wide range of skills, graduates are able to explore a variety of career opportunities and job prospects, which may result in improved job security in the long term.   

In addition to the statistics from the BLS, a 2022 report from the National Center for Education Statistics found that individuals with a college degree enjoy better employment prospects and greater annual earnings compared to those with lesser levels of education. The 2022 data, compared against 2010 results, shows that employment rates among 25- to 34-year-olds were higher in 2021 only for those with a bachelor’s or higher degree; 84% vs. 86%.   

For 25- to 34-year-olds working full-time and year-round, greater levels of educational attainment continue to be associated with higher median earnings, with this pattern holding true every year from 2010 through 2020. Employment doesn’t always equate to success, but a college degree offers individuals a competitive advantage in the workforce and provides greater benefits for those who have completed their postsecondary education. 

While there are a limited number of fields where work experience may be more relevant than a college degree, including in the tech industry, employment opportunities within these areas are often limited. A college degree is the best option for professionals interested in taking on leadership roles, earning a higher salary, and for those who want to achieve their career goals more quickly.  

The average salary in 2023 for college graduates is $55,260, according to a National Association of Colleges and Employers (NACE) survey. In addition, research shows that adults with at least a bachelor’s degree experience the lowest levels of poverty. Of adults reported to be at or below the poverty line in 2019, 26% had less than a high school diploma, 35% had a high school degree or equivalent GED, 26% had some college or associate degree, and only 14% had a bachelor’s degree or higher. Those with bachelor’s degrees or higher represented the smallest group of those living in poverty. 

 Examples of salaries for professionals with and without a college degree include:   

• Medical assistant: $36,580 (average annual salary without a degree) vs. $39,118 (average annual salary with at least a bachelor’s degree).
• Computer support specialist: $88,916 (average annual salary without a degree) vs. $107,255 (average annual salary with at least a bachelor’s degree).  
• Software developer: $40,750 (average annual salary without a degree) vs. $76,000 (average annual salary with at least a bachelor’s degree).
• Medical secretary: $27,070 (average annual salary without a degree) vs. $34,330 (average annual salary with at least a bachelor’s degree). 
• Community health worker: $36,940 (average annual salary without a degree) vs. $46,590 (average annual salary with at least a bachelor’s degree). 

Whether an individual is completing coursework from an associate, bachelor’s, or master’s degree program, graduating from college isn’t easy and requires discipline and dedication, in addition to time and money. Depending on the type of degree an individual works to complete and the school they attend, it’s common for students to take anywhere from two to seven years to complete required coursework. In traditional college and university settings, an associate degree typically takes about two years to complete, a bachelor’s takes around four years, and a master’s takes two to three years.

Whether an individual is completing coursework from an associate, bachelor’s, or master’s degree program, graduating from college isn’t easy and requires discipline and dedication, in addition to time and money. Depending on the type of degree an individual works to complete and the school they attend, it’s common for students to take anywhere from two to seven years to complete required coursework. In traditional college and university settings, an associate degree typically takes about two years to complete, a bachelor’s takes around four years, and a master’s takes two to three years. 

Online universities like WGU offer excellent opportunities for students looking to earn an affordable, accredited, and career-aligned degree while still working or taking care of family. WGU offers career-aligned bachelor’s and master’s degrees in—IT, teaching, business, and healthcare—designed to help working professionals fit an online university education into their busy lives.  

As a pioneer of competency-based education (CBE), WGU offers courses that have no set log-in times and are designed with input from industry experts to teach students the real-world skills they need to thrive in their industry. You can even accelerate through any material you already know to earn your degree faster and for less money. Explore WGU’s wide variety of degree programs and get started on the path to the career that’s right for you.