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Going back to school to earn your degree in 2009? Wondering if it will pay off?
Like you many people will commit to seeing their career goals met this year. Some will even be bold enough to enroll in a degree seeking program as a working adult to better the chances of advancement and long term career success. Below you will find a reprint of additional dollars earned by employees whom have met the challenge.
How much more is a degree worth?
The following reflects the additional dollars that you will
earn, over the course of your entire working lifetime
(approx. 40 years), in a variety of career areas, when
compared to someone with only a high school diploma.
Associate Degree – Value added
Average $116,550 Liberal arts $63,667
Business $92,908 Social science $79,013
Computers $148,695 Science $104,521
Engineering $192,660
Bachelor’s degree--Lifetime gain can be huge
Average $308,588 Liberal arts $243,883
Business $349,028 Social science $210,080
Computers $443,180 Science $283,286
Engineering $497,930 Education $108,461
Master’s degree
Average $180,010 Business $375,780
Science $136,873 Education $106,388
Engineering $362,092
The Ph.D.-- Science pays more
Average $187,920
Science $299,190
Professional degree--Big-time payoff
Average $716,927
Law $748,865
Medicine $977,601 (*Reprinted of MSN Money. 2006)
As you can see, going back to school pays itself off in a big way. If you have chosen to pursue your long term goal of earning your degree, feel free to ask me any questions regarding the challenge ahead. As a third year collegiate counselor I would be happy to field any questions in an attempt to give you some insight to your decision ahead. SI crew the must important goal that we have as excelling professionals is to stay ahead of the expectations curve and continue to add value to our organizations. See you on Jan. 20th 2009 to celebrate our 4000 member community milestone.
Bests,
“Coach” Carter
How much more is a degree worth?
The following reflects the additional dollars that you will
earn, over the course of your entire working lifetime
(approx. 40 years), in a variety of career areas, when
compared to someone with only a high school diploma.
Associate Degree – Value added
Average $116,550 Liberal arts $63,667
Business $92,908 Social science $79,013
Computers $148,695 Science $104,521
Engineering $192,660
Bachelor’s degree--Lifetime gain can be huge
Average $308,588 Liberal arts $243,883
Business $349,028 Social science $210,080
Computers $443,180 Science $283,286
Engineering $497,930 Education $108,461
Master’s degree
Average $180,010 Business $375,780
Science $136,873 Education $106,388
Engineering $362,092
The Ph.D.-- Science pays more
Average $187,920
Science $299,190
Professional degree--Big-time payoff
Average $716,927
Law $748,865
Medicine $977,601 (*Reprinted of MSN Money. 2006)
As you can see, going back to school pays itself off in a big way. If you have chosen to pursue your long term goal of earning your degree, feel free to ask me any questions regarding the challenge ahead. As a third year collegiate counselor I would be happy to field any questions in an attempt to give you some insight to your decision ahead. SI crew the must important goal that we have as excelling professionals is to stay ahead of the expectations curve and continue to add value to our organizations. See you on Jan. 20th 2009 to celebrate our 4000 member community milestone.
Bests,
“Coach” Carter
Replies to This Discussion
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Permalink Reply by Andrew Ball on -
Many years ago, I read a Dear Abby column about this subject. The writer sought advice on whether he should go to medical school or not. He had been out of college for a few years and was concerned that he would be well over 30 (Maybe closer to 40) when he finished 4 years of Med school, 4 years of internships and 2 years of specialization. He wondered if it would be worth it. The reply: How old will you be in 10 years if you don't go to school?
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Permalink Reply by Thomas Carter on -
Andrew,
Thank you for sharing this story. I love how stories can make such a cloudy subject seem so crystal clear. Life-long learning has become a hot topic in education. I think this story points to a greater value of knowledge and quality of life in the pursuit of financial stability. Again, thank you for sharing.
- Tom
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Permalink Reply by Andrew Ball on
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What I didn't say is that I was thinking about going back to grad school for another degree and this contributed to my decision.
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Permalink Reply by Thomas Carter on
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Just curious now, what was your final decision and how has it made an impacted?
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Permalink Reply by Andrew Ball on
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Oh - sorry. I went back to school and got a 2nd Masters after being out of school for almost 10 years and never looked back. The 2nd one is the one I use today. The first one we'll just say was a "learning process"...
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Permalink Reply by Mark R Platt on -
I agree with Andrew that is pin point advice in a sentence.
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Permalink Reply by Erin Monahan on -
I've been thinking about a master's program, but our finances are currently squeezed. Where can folks who've been in the work force at least 15 years search for scholarships?
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Permalink Reply by Andrew Ball on
-
Step one: talk to a financial aid counselor at the school of your choice.
Step 2: complete the FASFA and submit it before the deadline which is rapidly approaching. you need to do this in order to get most loans, Pell Grants, campus jobs and many other grants and financial aid. If you think you might go to school in 2009-2010 (yes, it's for the next school year) complete it and get it submitted. It's a Government form found on this website: http://www.fafsa.ed.gov/. You are under no obligation - but if you don't do it, you cut off a valuable avenue.
Step 3: do internet research or go to your local library. There are many reference materials available with sources of funding. And see Step 1 above.
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Permalink Reply by Erin Monahan on
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Wow, thanks so much for this information! I'd better get a move on.
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Permalink Reply by William Welter on -
Greetings,
I am currently in an MBA online program with a concentration in Applied Management. I am constantly wondering was this a wise choice. Now more than ever I am concerned with the state of the economy. Unfortunately I was one of those individuals that was downsized not once, but twice in 2008. I currently hold an Associates in Business Administration, and Associates in Computer Information Systems, a Bachelor's in Organizational Leadership and Supervision, and now working towards my MBA. I figure my student loan payments will be close to 400-450 a month upon graduation in early 2010. I feel like I have been a lifetime student ! Now I am wondering if I should even continue on and seek a PHD but dont know if I want to be in school anymore. Thoughts ?
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Permalink Reply by Arnie Goldberg on -
I teach several classes at the University of Phoenix, Indianapolis Campus. Feedback from many students reflects advancement in their career paths once they complete their degree, more so when they complete an MBA.
Likewise, I would be happy to answer questions.
arnie@mktgusa.com
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1. Please use your real name (first and last) when you sign up, or we cannot open your account
2. Please do not use logos or commercial images for your profile photo
3. Events should be posted in the events calendar
4. You can post pretty much anything you want on your own personal page (self promotion, etc), and you can change the style of your personal profile page to reflect your corporate identification if you so choose.
5. Please keep all comments civil and polite. It's OK to feel strongly about a subject, and it's OK to be critical of ideas, but please refrain from personal attacks of any kind.
If you witness or experience any issues, please contact admin@smallerindiana.com and we will look into the matter.
6. Smaller Indiana is supported by its members, and by corporate sponsors. If you're interested in learning more about sponsorship, please call Pat Coyle at 317 332 7878.
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