Is It the Right Time to Get a Degree?

Determining whether it’s the right time to pursue a college degree depends on a range of factors. You should evaluate your goals, timing, financial readiness, market trends, and whether you’re even ready for school. Weighing the benefits, exploring popular college majors and programs, and fleshing out your priorities can help you make a thoughtful decision about whether now is the time to get your degree.
What Are the Benefits of Getting a College Degree?
Earning a college degree can open many doorways to personal and professional success. It can help you expand your career opportunities, increase your earning potential, and enhance your job security. Let’s explore some of the benefits of pursuing higher education.
More Job Opportunities
A college degree provides access to a broad range of career opportunities requiring advanced education, like health care, engineering, education, and more. Many employers view candidates with college degrees as more skilled and better prepared, and industries that require them continue to see significant growth.
Higher Earning Potential
Individuals with a college degree earn more over their lifetimes than those without one. Higher education often leads to higher-paying roles, with many industries offering substantial salary increases for employees with advanced qualifications, making college a prudent financial investment.
Lower Unemployment Rate
According to the Bureau of Labor Statistics (BLS), unemployment rates decrease as degree levels increase. Those with advanced degrees, such as master’s or doctoral degrees, experience the lowest unemployment rates. Graduates are more likely to find and retain jobs, so earning a college degree enhances job opportunities and increases job security.
What’s the Best Degree to Pursue?
Persuaded by the upside of a college degree but unsure of which direction to take your higher education? The best degree for you depends on your interests, strengths, and career plans, and it’s essential for you to research to find the program that matches your goals. However, the following are some degrees that might interest you based on current market trends and popular demand.
Computer Science
In a computer science degree program, you would study computational systems and their operation and pick up analytical, technical, and problem-solving skills. The typical curriculum covers programming, algorithms, artificial intelligence, cybersecurity, computer architecture, robotics, gaming technology, and more, gaining you entry to the technology, finance, and health care industries. Computer science degree holders are in good shape financially; employment in the computer and information technology field is projected to grow from 2023 to 2033, with about 356,700 openings annually, and the median annual wage of these jobs is about $104,420, as of May 2023.
Business
In bachelor’s programs in business and/or management, students study subjects like accounting, finance, marketing, economics, statistics, and human resources. These college degree programs teach students budgeting, planning, hiring, how to manage organizations, and concepts like diversity, ethics, and politics. Students can also specialize in many different areas, like entrepreneurship, international business, and supply chain management. With a business degree, students can start careers in finance, marketing, consulting, and management, or launch their own businesses.
Health Care Administration
Emerging health care technologies like remote patient monitoring, electronic health records, and telehealth are transforming patient care, operational efficiency, and security. Students can enter this technologically advanced health care industry by pursuing a degree in health care management. In such a program, students study key areas like health care law, finance, human resources, ethics, quality improvement, and strategic planning so they’re prepared to effectively manage health care teams, ensure patient satisfaction, and navigate complex regulations. With this knowledge, they can be prepared to pursue roles like hospital administrator or health care manager.
Nursing
The BLS reported the median annual wage for registered nurses to be $86,070 as of 2023, with a robust 6% employment growth of RNs projected through 2033. Nursing students study anatomy, physiology, pharmacology, patient care, ethics, and health care policy. They learn to assess, diagnose, and treat patients, manage health care plans, and work with other professionals. A nursing degree can prepare students to work in various health care settings, including hospitals, nursing homes, and schools, or in nursing leadership, education, and research.
Liberal Arts
It’s true that liberal arts graduates don’t command the same salaries as those in STEM or health care fields, but on average, they take in $20,000 more than workers whose highest level of education is high school. And liberal arts grads frequently advance into more specialized, sought-after roles, from human resources and management to public relations, advertising, and marketing.
A liberal arts degree offers a broad education across humanities, social sciences, natural sciences, and mathematics, cultivating broad cognitive skills like solving problems, thinking critically, and being creative. It prepares students for diverse careers in industries like education, business, government, and the arts. For example, jobs in psychology are in high demand, so those pursuing a psychology degree are well positioned to enter the job market. Indeed, the BLS projects a 7% growth in employment of psychologists in the decade leading up to 2033, nearly double the average rate for all occupations.
Matching a Degree with Your Career Goals
When choosing a college major/degree program, you must think about your talents, skills, education, career goals, and life experiences. You should think about how these factors line up with different career paths. Don’t forget to research the job availability, salaries, and growth in employment for fields of interest. Work-life balance and job satisfaction are also important to consider. By weighing these factors, you can better decide which degree matches your long-term goals, values, and financial needs.
If you’re ready to explore college degree programs, check out Excelsior University’s many areas of study.