Things are changing in the world and one significant change is the value of a college education. Until recently, it was more expensive to not attend college than attend college. Numerous studies over the years have shown that individuals with college degrees significantly out-earn those with high school degrees. But as the cost of education increases faster than inflation and the economy remains relatively weak, people are beginning to question how they spend their education dollars.
While there’s no doubt that a college degree increases earning power and broadens opportunities, today’s high cost of education means it makes sense to more carefully consider which degree you earn. When it comes to return on investment, not all degrees are considered equal.
Theologists contend that they have found their calling. While devoting your life to the church and dedicating your life to the service of others is laudable, it’s not going to leave you with a lot of profit after you earn your degree.
Nutritionists contend that it is hard work making sure everyone eats right and is nutritionally fit. But all that hard work and education necessary to land this job might not turn a huge profit. There is an unfortunate trend regarding doing work for others with minimal pay.
Newsrooms and TV studios are full of wealthy and famous journalists. Not. Although these skills require a good bit of education and training, the pay is not anywhere in the league of top paying professions.
Artists are respected, revered and celebrated. The trick is achieving that status while they’re still alive. After all, the term “starving artist” didn’t come from nowhere. Think of the famous artists and authors. Most of their wealth and fame occurred after their demise.
Teaching, while considered most to be a noble profession, is sadly listed as one of the lowest with regards to return on investment. Most young teachers will still be paying off college loans as they near retirement.
Psychologists make very little pay and with this degree a masters is needed to receive any kind of return on investment with regards to the cost of the education.
It doesn’t matter whether you major in philosophy or physical education; you want to make as much money as possible. The first thing you should do is research, so you’re able to come to the table armed with the knowledge of what your job is worth.
Source: Ciccone, Alicia. “College Costs: New Research Weighs The True Value Of A College Education.” The Huffington Post. TheHuffingtonPost.com, 20 Aug. 2012. Web. 18 Feb. 2013.