Typical Higher Education Paths and Earnings Considerations
Higher education is expensive and you may wonder if it is worth spending all
that money. In 2004, a report 'Education Pays: The Benefits of Higher Education
for Individual and Society', was published by the College Board. This report not
only documented the gains of higher education - both monetary and non-monetary -
for the society and the individual, but also focused on the inequities existent
in the education and employment sector of the country. However, the report
conclusively proved that investment in higher education gave a higher return as
one joined the workforce. Read our article
Degrees Defined for more in-depth information about the different types of
degree programs and certificates offered through the educational system.
Associate's Degree
An Associate's Degree in the U.S. is a two year program and can be of three
types - an Associate of Arts Degree (A.A.), an Associate of Applied Science
Degree (A.A.S.) and an Associate of Science Degree (A.S.). Community colleges
and junior colleges offer these degree programs and you have to complete 60
credit hours to obtain your degree. You can opt for an Occupational Associate
Degree, which will train you to find employment in certain fields such as
paralegal, medical assistant, computer, public service and data processing.
There is another type of associate degree known as a Transfer Associate Degree
and all coursework that you complete under this course can be transferred to a
four year bachelor's program. The cost of an associate degree is approximately
$8,000 in public community colleges. According to the Bureau of Labor
Statistics, by 2010, the fastest growing occupations will require a huge number
of people with an Associate Degree.
To apply for admission to this program you have to fill in the application form
and provide the college with your high school transcripts. Some schools may need
you to write a statement of intent. Colleges that do not have an open admission
policy will ask for your Scholastic Aptitude Test or College Achievement Test
scores. Even with an open admission system you may have to fulfill some course
specific prerequisites. An associate degree has its own advantages. It costs
less than a four year bachelor's program and makes you ready for you work life
in a shorter time. Many skilled and high-paying jobs require an associate
degree, as it qualifies workers with niche skills. The major disadvantage is
that your career opportunity gets limited; some positions will not consider
anything less than a four year degree.
For U.S. community colleges and junior colleges offering associate degree
programs, log on to:
USAStudyGuide.com - Jr. Colleges.
For online associate degree options, check out the following site:
USAStudyGuide.com - Online Degree
The starting salaries for various careers are different. An automotive mechanic
can start with an entry level salary of $25,000 annually and generally reach an
average of $28,000 to $37,000 in their early career. A Computer Numeric Control
Machine Programmer (CNC) can expect to earn something around $25,000 as a
starting salary, while a Dental Assistant will probably make $26,000 to start
with. A Graphic Designer will have a higher starting income (around $33, 872);
in comparison a Licensed Practical Nurse can earn up to $42,000, depending on
the experience and the state or city where s/he is located.
For more information on average starting salaries, log on to:
CollegeCrunch.org
A Typical Flow from High School to Doctorate Degree
After your high school degree, you can opt for postsecondary education in the
form of undergraduate studies. You can choose between an associate degree and a
bachelor's degree. You can obtain your associate degree, which will typically
take two years, from community colleges, trade schools, or even in some cases
from degree colleges. The bachelor's degree program lasts for four years. You
can complete your associate degree and then transfer your credits to a
bachelor's program or enroll directly for a bachelor's degree program. You
qualify for a Master's degree only if you have completed your four years of
college or equivalent. After a Master's degree you can opt for a Doctorate.
Trade School Degrees and Certificates
About 70 percent of postsecondary technical education is provided by private
trade schools. Community colleges provide the rest. The popularity of trade
schools is indicative of the fact that a four-year college degree is not the
only option. Many students choose vocational training to be on the fast-track of
career development. Adult learners, workers looking for a change in career and
also regular high school graduates now consider trade schools as extremely
viable options for high-paying skilled jobs.
Since vocational schools specifically aim at imparting the skills required for a
particular trade, the courses are more focused. Quite a few vocational schools
also have a degree-transfer programs, which help you to use the credits from
these two years for a degree enhancement (a bachelor's degree) when you feel the
need for it. There are a number of vocational careers to choose from. Vocational
schools offer certificates, diplomas and associate degrees. With more than
10,000 private vocational colleges offering paralegal, paramedical, heating,
ventilation and air conditioning (HVAC), cosmetology, landscaping and many other
such courses, the choice is mind boggling. The admission requirements to these
schools vary depending on the specific course that you opt for, as does the cost
(anywhere between $500 and $10,000, depending on the type and length of the
course).
For more information on vocational degrees:
Vocational-School-Guide.com.
The Bureau of Labor Statistics projects that vocational degrees enable students
to get starting salaries ranging between $20,000 and $45,000, depending on the
demand for a skill. Reports from the National Federation of Paralegal
Associations indicate that paralegal salaries average at $41,742, while an entry
level job can get you as much as $32,000.
For an idea about medical career salaries:
Medical-Careers.org.
For more on paralegal and legal assistant career salaries:
BLS.gov.
Bachelor's Degree
This is the conventional four-year undergraduate degree that gives you sound
academic knowledge and builds a foundation of teaching expertise. You can enroll
for a bachelor's degree after high school graduation or even after a two-year
associate degree. Many U.S. institutes award the bachelor's degree with Latin
honors.
For more info:
Wikipedia.org
- Bachelor's Degree.
A bachelor's degree increases your employability. According to the Bureau of
Labor Statistics only 1.8 percent of people with bachelor's degrees are
unemployed as compared to 6.5 percent of those with no high school degree. Also
the average annual earnings of workers with a bachelor's degree are on an
average $30,000 higher than those with high school education. The chances of
promotion also increase if you have a higher degree.
With the rising number of students taking up higher education the cost of
tuition at this level has increased tremendously. The annual tuition fee
(lodging, boarding, books and miscellaneous) in a private university is around
$21,235, while that in a public university is $5,491. A bachelor's degree has no
match if you consider the educational value, earning and career-making
opportunities, and personal confidence building. The only thing to consider is
the price you pay in real terms as tuition, campus costs and other incidentals
and also the four years that you have to set aside.
Master's Degree
You can seek admission for a master's degree only after finishing your
bachelor's degree. For master's degree
programs, you need to have a bachelor's
degree in the same subject or in a closely related subject. However, a master's
degree in some subjects can be done irrespective of your bachelor's degree
specialization. A master's degree will usually cost around $10,000 to $15,000 in
private universities, though Ivy League Schools will be more costly. State
universities cost less at around $5,000.
Check out the following site for more information:
USAStudyguide.com.
Better earnings are one of the main incentives for choosing master's degrees.
According to information available at
Salary.com,
the average annual salary for those with master's degrees is $53,000, as opposed
to $43,000 for workers with a bachelor's degree. Similar results are reported by
the U.S. Census Bureau; if an average work life is for 40 years, then a person
with a master's qualification will earn $2.5 million, while a bachelor's degree
holder will make only $2.1 million. A master's degree will give you the
opportunity of studying the subject that you are passionate about. With access
to your college alumni data, you will also be able to build a network with
people in a related field of study.
A Doctorate Degree
This is the highest level of studies that you can formally pursue in a given
field. You will need to finish your doctorate in seven years. To enroll for
doctorate studies you have to fulfill certain criteria.
To know the details, log on to:
UTEP.edu
Having a master's degree is not mandatory to enroll for doctorate studies. Some
doctorate programs accept students directly after they finish their bachelor's
program, though mastery of the coursework of a master's program is expected. A
doctorate degree will open coveted career opportunities for you. On an average,
you can expect to earn around $3.4 million through your work life. However,
salary figures mentioned here are approximations drawn from studies by various
government bodies and for all practical purposes change with the supply/demand
situation in the economy.
For more information on what your college degree is worth, check the following
sites:
