From CNBC, November 12, 2023:
- Between the sky-high cost and student loan burden, more students are taking a closer look at college’s return on investment.
- When it comes to value, what you study may be the most important factor.
- Graduates entering the workforce with good career prospects and high starting salaries are the most satisfied with their major, according to job site ZipRecruiter.
Even with college application season in full swing, many families are questioning whether a four-year degree is still worth it.
Some experts say the value of a bachelor’s degree is fading and more emphasis should be directed toward career training. A growing number of companies, including many in tech, are also dropping degree requirements for many middle-skill and even higher-skill roles.
However, earning a degree is almost always worthwhile, according to “The College Payoff,” a report from the Georgetown University Center on Education and the Workforce.Bachelor’s degree holders generally earn 84% more than those with just a high school diploma, the report said — and the higher the level of educational attainment, the larger the payoff.
When broken down by areas of study, however, the difference is striking. Students who pursue a major specifically in science, technology, engineering and math — collectively known as STEM disciplines — are projected to earn the most overall.
In addition to STEM, health and business majors are among the highest-paying, leading to average annual wages that are higher at the entry level and significantly greater over the course of a career compared with liberal arts and humanities majors, the Georgetown Center found.
10 most-regretted majors: After graduation, ‘reality hits’
Still, 44% of all job seekers with college degrees regret their field of study....
....MUCH MORE
