People with college degrees continue to earn far more than people without them. And that college “premium” keeps rising. Last year, Americans with four years of college degrees earned an average of 98 percent more per hour than people without a college degree. So even though college costs are rising, the financial return to a college degree versus not having one is rising faster. A college degree does not guarantee a good job. The main reason it pays better than a person’s job without a degree is to lower wages eventually.
In general, under most circumstances and for most jobs, a degree is secondary. Candidate companies want the person who is most prepared and qualified to do the best job for them. Some HR jobs, such as HR Administrators or Payroll Specialists, may not require a degree. Although you must recognize there may be a limit to how far you can advance within your department. Some companies should not consider you for a promotion if you do not have a degree, regardless of your experience.
Having a college degree are no more qualified than someone with 20 years of experience. Some companies are fighting the trend toward a college degree for everyone. In fact, it is likely that new college graduates will spend several years in jobs where they are more proficient. According to the Federal Reserve Bank of New York ,46 percent of college graduates now work in jobs that do not require a college degree. Employers still choose college graduates over non-college graduates to think that further education is better than less.
As a result, non-graduates are being pushed to ever lower-class jobs, if they can get a job at all. Which is a major reason why their pay is dropping.
First, millions of people in developing countries are now far better educated, and the Internet has given them an easy way to sell their skills in advanced economies like the United States. Therefore, more and more complex work is outsourced to it. Second, advanced software is taking over many tasks that are done by educated professionals – including data analysis, accounting, legal and engineering work, even some medical diagnoses. As a result, the demand for highly educated workers in the United States seems to have peaked around 2000 and has fallen ever since. But the supply of educated workers continues to grow. A college degree is worth the cost to have a better paying a good job because it enables a young person to tread water. Without the level, young people can easily drown. A college degree gives young people tools for leading full and purposeful lives and having a meaningful career. Even if they don’t change the world for the better.