Are BS degrees worth it?

Asked by: Laurianne Haag  |  Last update: November 15, 2023
Score: 4.6/5 (10 votes)

In general, bachelor's degree holders tend to experience lower unemployment rates (3.5 percent) than those with a high school diploma (6.2 percent) or associate degree (4.6 percent). In the recovery from the pandemic, college grads faced less unemployment than high school graduates, according to BLS.

Is it really worth getting a bachelor's degree?

Bachelor's degree holders generally earn 75% more than those with just a high school diploma, according to “The College Payoff,” a report from the Georgetown University Center on Education and the Workforce — and the higher the level of educational attainment, the larger the payoff.

Do employers care about a BS versus a BA?

Many companies choose to hire people who have earned a bachelor's degree, without being concerned if it is a B.A. or a B.S. degree. However, there are those places that do want to see very specific courses taken and items learned.

Do you make more money with a BA or BS?

According to Emolument, a salary comparison tool, right out of the gate Americans with a BS degree earn about 17% more on average than those with a BA degree. The technical skills often associated with a BS are in high demand. For the first 10 years of experience in the field, BS degrees have the edge.

Is getting a bachelors degree worth it in 2023?

According to data published by the Federal Reserve Bank of New York, the wage premium for early-career college graduates was 52%, or $17,680. The unemployment rate for college grads was also far lower in the first quarter of 2023 at 2.1% versus 6.9% for young workers without a college degree.

Growing Number Of Americans Questioning The Value Of College Degree

43 related questions found

Am I too old to get a bachelor's degree?

There are plenty of non-traditional students seeking a degree. It doesn't matter what the age, the end goal is the same. If you are one of those older students looking to start or finish your degree, know that you can do this! It will take commitment and determination, but it is not an impossible feat.

Is a four-year degree still worth it?

Today's labor market increasingly rewards highly educated workers: In 1990, a worker with a bachelor's degree earned 39 percent more than one whose highest level of education was a high school diploma. By 2021, the difference had grown to 62 percent (and closer to 90% for workers with graduate degrees).

Is BS harder than BA?

Which degree is harder? For students that are not mathematically inclined or strong in the hard sciences, a BS degree would likely be far more challenging. Further, a BS degree typically requires the completion of more major-specific credits than a BA degree.

Does a PhD increase salary?

Besides the fact that a PhD increases salary, there are other benefits to earning this advanced degree. Earning a PhD will not only increase your salary, but it will also allow you to work in any field you desire. While you're in school, you can apply to jobs outside of academia, giving you more career options.

How much more does a person earn with a bachelor's degree?

Typical earnings for bachelor's degree holders are $36,000 or 84 percent higher than those whose highest degree is a high school diploma. College graduates on average make $1.2 million more over their lifetime.

Why do employers prefer bachelor's degree?

A degree can show that you have the specialized knowledge or technical skills that an employer is looking for and that can be transferred to the workplace with minimal on-the-job training.

What is the difference in getting a BA vs a BS?

A B.A. degree is less specialized than a B.S. degree. In contrast to a B.S. degree, which focuses more on technical and scientific subjects, the B.A. degree focuses on humanities and liberal arts, and generally offers students a broad-based education.

Why does my degree only say Bachelor of Science?

The reason that most colleges do not list your major on your diploma is simply because it is technically incorrect to do so. Colleges are accredited to award generic bachleors degrees (B.A. or B.S.) only. That is as far as the regional accreditation body's concern goes.

What are the disadvantages of a bachelor's degree?

Cons
  • You may not gain technical skills. ...
  • You may not get employability skills. ...
  • Contact time is less than at school. ...
  • You'll leave with a lot of debt. ...
  • You will be committing at least three years of your life. ...
  • You're not guaranteed a graduate job. ...
  • Lifetime earnings can be higher with an apprenticeship.

Does a bachelor's degree matter anymore?

According to research from Georgetown University, the lifetime earning potential of a worker with a bachelor's degree is $2.8 million. Without a degree the expected earning power is $1.6 million. But in a study of universities in Massachusetts, college graduates were found to earn no more than high-school graduates.

Are college degrees losing value?

The value of a college degree is decreasing and will likely continue to do so for years to come. A growing number of people have realized that a degree doesn't always mean job security or high earnings, but it definitely means student loan debt for most.

What is the lifetime earnings of a PhD vs Masters?

The expected lifetime earnings for someone without a high school degree is $973,000; with a high school diploma, $1.3 million; with a bachelor's degree, $2.3 million; with a master's degree, $2.7 million; and with a doctoral degree (excluding professional degrees), $3.3 million.

What makes more money a PhD or Masters?

A master's degree program provides students with industry-specific knowledge, and earning one may be a requirement in some industries, including mental health social work. A Ph. D. may earn you a higher salary and make you a more competitive candidate since fewer people have them.

Which PhD is most in demand?

The most popular doctorate degrees are in high-demand fields with lucrative opportunities like engineering, biology, and computer science.

What is one of the hardest bachelor degree?

Top 15 Hardest College Majors Table of Contents
  • Chemistry.
  • Environmental Economics and Policy.
  • Environmental Earth Science.
  • American Studies.
  • Nuclear Engineering.
  • Energy Engineering.
  • Astrophysics.
  • Applied Mathematics.

Do med schools prefer BA or BS?

Every U.S. medical school requires the completion of a four-year degree from an accredited college or university. It doesn't matter whether your degree is a Bachelor of Arts (B.A.) or Bachelor of Science (B.S.).

Is BA or BS better for law school?

Your LSAT score and your GPA are the key determining factors in law school admissions. The American Bar Association (ABA) states that they do not recommend any specific major for undergraduates or coursework to prepare for law school.

What is the average college debt?

The average federal student loan debt is $37,338 per borrower. Private student loan debt averages $54,921 per borrower. The average student borrows over $30,000 to pursue a bachelor's degree. A total of 45.3 million borrowers have student loan debt; 92% of them have federal loan debt.

What is the best paying 4 year degree?

30 Highest Paying Bachelor's Degrees
  • Petroleum Engineering. Early career salary: $96,742. ...
  • Operations Research. Early career salary: $74,114. ...
  • Marine Engineering. Early career salary: $70,837. ...
  • Computer Engineering. Early career salary: $80,587. ...
  • Systems Engineering. ...
  • Chemical Engineering. ...
  • Electrical Engineering. ...
  • Computer Science.