Are Bachelors Degrees Really Worth It?

 

Earning a Bachelor’s Degree is both expensive and requires intensive study for a significant period of time.  For many people, it begs the question; is all that study and cost to obtain a degree really worth it?  Here we discuss the advantages and disadvantages of earning a bachelor degree to help you make the right decision for you.

While earning a bachelor degree might seem expensive in terms of direct tuition costs the additional cost of the student not working full time while studying also needs to be taken into account.  By choosing to go to college or university to obtain a degree the student’s ability to get a start in his or her chosen career is delayed by at least four years. With this in mind the additional cost of lost income could easily add up to over $100,000 while you are studying for your bachelor’s degree.  This cost could be reduced by doing an online bachelor’s degree.

Despite this, the long term benefits of obtaining a bachelor degree will almost always outweigh this temporary financial setback. It is clear that a bachelor’s degree will give you the ability to earn a higher income than you would without a degree.  The US Bureau of Labour Statistics recently published data showing that during the first quarter of 2008 full time professionals with bachelor’s degrees earned a median weekly salary of $1,108 while workers who only had high school diplomas earned a median weekly salary of $615.  This is an 80% increase in median weekly income going to those holding a bachelor’s degree.  When you take into account the fact that your career could span 40 years or more you can see this additional income would soon overtake the initial costs of earning your bachelor’s degree.

On top of the prospect of higher income, studying to obtain a bachelor degree offers other benefits.

It will open you up to a more global education. You will meet and study with international students, have the possibility to study abroad and be exposed to other cultures all of which give you a greater appreciation for the multicultural society we live in.

You are more likely to have better personal health by extending your education.  Greater personal health and higher levels of education have been linked by numerous research organisations.

You will have a greater variety of career options.  With higher levels of knowledge and the stature of a degree under your belt you will generally have a greater variety of career options available to you than you would if you did not have a bachelor degree.

What I remember most about my university study was what our chancellor said on our graduation day.

“The most important thing you will have learnt while earning your degree is actually how to learn.  It is this skill that will equip you for the changing workplace you are entering.”

His statement was imprinted in my memory and I have found it to be one hundred percent correct.  The ability to not only study to earn your degree, but to have the ability to continue to learn throughout your working life is perhaps the greatest advantage of furthering your education and earning a bachelor degree.  It sets you up for the future, whatever may lie ahead.


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October 21, 2010 by

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