In the contemporary world, education has quite rightly always been given substantial importance and people continue to spend a huge sum in higher education – especially University Degrees. However, the question is: is it worth really worth spending thousands for a degree?
What rewards can a University degree reap for you?
A University degree is what everyone strives to achieve after secondary education. It is the standard benchmark by which every skilled worker is measured against in today’s economy. Since the cost to achieve the degree and running expenses of students these days are very high, the key question is whether one will be able to earn enough with the degree once it’s achieved – or not.
Technology and technological advancements in every area of science and arts has already proven the value of a degree since lower skilled jobs have been off-shored or replaced by computer systems and robots in lower and unskilled industries.
How much can a graduate earn, when compared to a non-graduate?
It is very likely that a person with a graduate degree will get higher pay-rate. There have been many surveys indicating that males with a good University degree earn about 28% more than non-graduates, and female graduates can earn about 53% more. This clearly indicates that having a degree helps hugely in monetary ways. A degree always reaps better rewards. However there is a risk factor to consider. Many students fail to complete their degree and drop out of University one or more years before the course completes. They also do not complete the course following illness, family challenges or other often unforeseen factors.
Higher education and gaining a good University degree can reap great rewards in the medium term. It is generally a sound investment for both the student and the government – since the government get their share of taxes and any associated loan repayments.