5 Ways Your Business Degree Can Pay Off
There are many things to consider when deciding on getting your business degree online:
- Will I have time for my course work?
- How can I go to school and work?
- Will I have to give up time with my family?
- Can I afford it?
- Will getting my business degree advance my career?
At times, these considerations may seem overwhelming. However, the benefits of earning your online business degree can make your decision easier. Discover five reasons why earning your business degree may be a good option for you.
Having a college degree greatly increases your career earnings. According to the U.S. Department of Labor, those with just a high school diploma had weekly earnings of just $651 and those with some college earned $727 weekly. Meanwhile, bachelor’s degree holders earned $1,108 weekly and master’s degree holders brought in $1,329 weekly.
Just by earning a college degree you can set yourself up for a large improvement in earnings. The Department of Labor predicts the earnings gap will grow larger in the coming future.
According to a 2013 report from the College Board, holders of a bachelor’s degree or higher are more satisfied with their job than those with some college or just a high school degree. Fifty-one percent of degree holders reported being very satisfied compared to 48 percent of those with some college and 47 percent of those with a high school diploma.
This trend in satisfaction also extends to a feeling of learning new things on the job. The same report found 56 percent of degree holders strongly agreed that they were continuing to learn new things at work. That figure slides to 44 percent and 32 percent when you ask those with some college and a high school diploma respectively. Having a college degree can help put you in roles where you are constantly challenged and enjoy your work.
According to the U.S. Department of Labor, unemployment rates for degree holders are significantly lower than those without. Seven and a half percent of people with only a high school degree are unemployed; having some college experience lowers that figure to 7 percent. Meanwhile, those with a bachelor’s degree have an unemployment rate of 4 percent, and master’s degree holders have a 3.4 percent rate.
More Potential Career Opportunities
Jobs continue to trend toward those with college degrees. According to a Georgetown University study, 63 percent of all American jobs will require at least some college experience by 2018.
With the rising costs of health care, having health insurance is crucial for everyone. Having a degree makes you more likely to be covered by employer-provided health insurance. According to College Board, 69 percent of bachelor’s degree holders and 73 percent of graduate degree holders were covered by health insurance in 2013. For those with some college or a high school diploma, that number slides to 60 percent and 55 percent, respectively.
Where to Start
Although having a degree isn’t required for success, it is clear that having one contributes. Our business programs help students advance their careers with strong programs that prepare them for the competitive workforce. To see if an online business degree suits you, check out our online programs page.