Bachelor’s Degree Vs Master’s – There was a time when having a bachelor’s degree was essential; a time when a B.S. functioned as the accepted measure of an educated and easily employed adult. But now the bachelor’s degree seems to be losing its edge, but to be fair, the value of having a college degree of some kind, a bachelor’s degree or higher, cannot be questioned compared to not having one. diploma.
The monetary value of having a degree can be seen by examining the results of a powerful new Pew Research Center survey of 2,002 young adults, supplemented by a Pew Research analysis of US economic data. Bureau of the Census.
Bachelor’s Degree Vs Master’s
Furthermore, the results of the Pew Research report found that not only does a college degree typically bring much higher inflation-adjusted earnings than in the past, but a high school degree is now almost worthless. This contributes to the widening income gap that Pew researchers found reflects America’s divide between rich and poor.
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It was the realization of millions of post-World War II men and women, including soldiers returning home from the front—that you need a college degree to get a good job—that eventually led to a rush through the college and university gates. . This is when a post-secondary education went from the exception to the norm. There is now a virtual glut of young people entering the workforce with bachelor’s degrees.
Listen to these facts: In 1950, about 34 percent of adults had completed high school; today, more than 30 percent have completed a bachelor’s degree. In 2010, colleges and universities awarded more than 1.7 million bachelor’s degrees, a number the National Center for Education Statistics (NCES) expects to grow to nearly 2 million by 2020.
Growth in the traditional college-age population and rising enrollment rates have contributed to increased college enrollment. Between 2000 and 2011, the population between the ages of 18 and 24 increased from approximately 27.3 million to approximately 31.1 million. The percentage of 18-24 year olds enrolled in college was also higher in 2011 (42.0 percent) than in 2000 (35.5 percent). This fall, these traditional college-age students will be joined by approximately 8.7 million older students age 25 and older.
The number of master’s degrees awarded, about 657,000 in 2009, has doubled since the 1980s, and the rate of growth has increased significantly in recent years, said Debra W. Stewart, president of the Council of Graduate Schools. Almost 2 in 25 people 25 and older have a master’s degree, about the same percentage as a bachelor’s degree or higher in 1960.
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“As more and more people get a bachelor’s degree, it’s becoming more common,” said Linda Serra Hagedorn, past president of the Association for the Study of Higher Education and associate dean and professor at Iowa State University in Ames. , Iowa.
But among employers, not all B.S. are created equal. In many communities around the United States, having a bachelor’s degree is not enough to make you stand out. “A bachelor’s degree is what a high school degree used to be,” added Caryn McTighe Musil of the Association of American Colleges and Universities in an article published in the Christian Science Monitor, Sun., June 17, 2012.
The danger is that a growing number of Americans will be needlessly burdened with large student loans and degrees (BS) that won’t guarantee them a high-paying job … or even a job these days. Comparing the unemployment rate of BS degree holders over the years confirms just that.
Colleges are turning out more graduates than the market can handle, and a master’s degree is critical for job seekers to stand out — that, or a degree from an elite undergraduate university, Richard K. Vedder, professor of economics at Ohio University and director of The Center for College Affordability and Productivity, told the N.Y. Times. From the 2001–02 to 2011–12 academic year, the number of associate’s degrees increased by 71 percent, from 595,100 to over 1 million, and the number of bachelor’s degrees awarded increased by 39 percent, from 1.3 million to 1.8 million.
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The more the market improves, the greater the pressure on employers to hire the best candidates. A master’s degree is now what you need to get where you want to go. Many entry-level jobs now require a master’s degree, and virtually all senior positions and senior professional positions require a master’s degree.
However, even in occupations that do not formally require a graduate education, some employers have begun to use the degree as a filter. “There’s been a shift toward hiring more advanced degrees, especially master’s degrees — not MBAs, but general master’s degrees,” said Edwin Koc, director of strategic and undergraduate research at the National Association of Colleges and Employers. Koc notes that a number of members of his organization are now hiring people with bachelor’s degrees for jobs he assumed only required a bachelor’s degree.
So… what gives? Today, a bachelor’s degree is practically a prerequisite to read your CV. Two-thirds of employers said they never waive degree requirements, or only do so for particularly outstanding candidates. But clearly B.S. identification permits employers want. While employers use college as a sorting mechanism to signal a job candidate’s discipline and drive, some believe that they “only” have a B.S. lack of new hires.
The good news is that the college job market has steadily improved over the past four years since the recession. A stronger market may be just around the corner. The job market will be competitive and the expansion of jobs for the majority of graduates entering the job market will ease the problems students have in finding jobs related to their career aspirations.
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Make sure you are in the right field. The biggest disadvantage in the market is the drastic reduction of jobs in government agencies. With all that in mind, there is good news. The university job market has developed steadily over the past four years. A stronger market may be just around the corner, but it will continue to be extremely competitive. “Stay in school.” You probably heard this phrase a million times growing up. You’ve heard it from your parents to your teachers, to just about every adult you’ve ever met. But with so many levels of education, how do you decide how long to go to school? Is a bachelor’s degree really better than a high school diploma? Is it worth taking your master? Of course, all these questions depend on the career you want to pursue. But it also depends on how much money you want to earn.
We all know that higher education often leads to higher paying careers. What may surprise you is that the median salary for an employee with college experience but no degree is $3,120 more per year than an employee with just a high school diploma, according to an article from Smartasset™.
The difference in salary increases significantly when you reach a bachelor’s degree. At a weekly average of $1,137, an employee with a bachelor’s degree will earn approximately $59,124 annually. And for employees who have a master’s degree, they can expect to bring in $1,341 per week with an average of $69,732 per year. Check out our infographic to the right that illustrates earnings comparisons at each degree level.
The corresponding jump in salaries from associate’s degree to bachelor’s and master’s degrees indicates a changing need for employees to be more knowledgeable and skilled as they enter their respected careers. Employees with bachelor’s and master’s degrees are highly profitable for employers, as these graduates have more education, more skills, and more connections; making them a clear choice over potential employees with only an associate’s degree. And of course, by this logic, a student with a master’s degree would be an even more attractive choice for an employer than a student with a bachelor’s degree. A degree can also make it easier to move into a senior position, which in turn is why master’s degrees tend to earn a significantly higher amount of money.
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…a degree can make it easier to move into a senior position, which in turn is why master’s degrees tend to earn a significant amount of money.
In addition to earning a higher salary, if you graduate with an advanced degree, chances are you won’t have to worry about finding a job. The unemployment rate for Americans with only a high school diploma is 5.4%, while the unemployment rate for Americans with a bachelor’s degree is only 2.8% and 2.4% for those with a master’s degree.
There’s more to a bachelor’s and master’s degree than a bigger salary. You will gain a large amount of knowledge in your desired field of work. This knowledge will not only help you get a career you’ve always wanted, but it will help you advance in that career. A bachelor’s degree, and especially a master’s, immediately sets you apart from the rest of the workforce when applying for a job. And in most cases, as you reach a certain level, they develop connections that make them professionals
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