WORK: Pros and cons of getting a degree
With the cost of a college education increasing by the years, it is more important than ever to make sure you are going to college for the right reasons and also knowing what you’re getting for your time and money. A lot of people tend to go to college because everyone else is, or because their parents did, or because family wants them to be the first to graduate with a college degree. None of these are good enough reasons. When choosing what to do with your life after high school, you need to consider a number of things: your strengths, weaknesses, likes, dislikes, career goals and overall commitment to getting a college education. These, in addition to many other factors, play a big role in making a concrete decision that can affect your life for many years to come in both your profession and your finances.
There are both pros and cons to getting a college degree, but lets begin with the cons. One of the many issues that students face today coming out of college, is student loans. After graduating, so many students start out their careers drowning in financial debt. This alone is enough to make anyone not want to attend college. Most students will take years to pay off their loans because even with a college degree, most careers don't pay enough money to be able to pay off the debt in a timely manner. Another con of going to college is that after you graduate, there is the risk that you might not be able to find a job in your field of study. Statistics show that “if you were a college graduate under 25 in 2011, there was a 50% chance you were unemployed or working in a part-time position. Take a look at these unemployment rates for college graduates within the last 9 years:
5.7% 2007
10.4% 2010
8.8% February 2013
For the class of 2013, the underemployment rate for college graduates was a staggering 18.3% and in 2012 the Federal Reserve Bank of New York said that 44% of recent college grads were underemployed” (Fairbanks, “2011 College Grads Moving Home, Saddled with Historic Levels of Student Loan Debt). Another reason that attending college may not be the best choice is that there are still many jobs that do not require a college degree or any type of schooling beyond a high school diploma.
On the contrary, there are many good reasons to pursue and obtain a college degree. There are many college graduates who receive a degree in a certain field and come out making a decent amount of money. They do not have to worry about struggling financially. A lot of times, there are specific jobs that will hire both high school graduate and college graduate, but the college graduate with a degree may make significantly more money than that of the person with only a high school diploma. Many people look for jobs today that will provide insurance and/or healthcare of some sort. Many careers that offer this type of assistance, will most likely accept college grads over high school grads. College can also provide opportunity for faculty and students to interact, which can certainly be of value in the workplace. Learning effective communication, cultural sensitivity, social norms, working in teams and taking on leadership roles are just a few of the many skills that can be learned in a college environment.
The education and training of a country's workers is a major factor in determining just how well the country's economy will do. The study of the economics of training and education involves analyzing the economy as a whole, consisting of employers and workers. Two major factors that influence wage rate are training and education. In general, well-trained workers tend to be more productive and earn more money than workers with poorer training. Not in all cases, but in my own personal experience, a lot of times, people who choose to further their education and are persistent in getting a degree are more willing to work hard and need less training in the long run. People can increase their earning potential by developing and improving their abilities. The more they know about a particular job's function or the more they understand, a lot of times, the more valuable they will become to an employer. Usually people who have attended college and received a degree are more apt to improve their potential in order to increase their salary. From an employers perspective, they typically want to hire people who are going to be productive and require less management or training. This can help a company can run more efficiently.