It’s a known fact that getting a higher education provides you with more earning power throughout your lifetime. What may not be as broadly known is that the type of higher education you choose could have an even larger impact on your earning power.
Obtaining a bachelor’s degree will help you earn an average of 84% more than someone with just a high school diploma, but there’s a lot of wiggle room in those figures. For example, a bachelor’s in a business field can earn you approximately $60,000 per year, while a bachelor’s in a science field such as engineering, can open up opportunities to earn more than $100,000 per year. That’s a significant difference.
Unfortunately, many of our students here in the United States are not paying attention to these facts, even though they have access to some of the best schools in the world. According to the STEM Lab Report, “At the higher end of the educational spectrum, the universities of the United States are the best in the world, with some of the best STEM-learning in the world. However, many of the best students in the hardest courses are foreign students who will take their knowledge back to their home markets and compete against us…Taking the tough subjects is no longer the hallmark of American students. In all, some 60 percent of engineering PhDs in 2007 went to foreign nationals, up from only 40 percent in 2003.”
What does this mean for us here in the United States? Our incoming college freshman need to be aware of the opportunities that are available to them within the engineering fields. High school guidance counselors need to single out potential candidates and provide them with the information and support they need to pursue a higher degree in this field.
If you are currently thinking about a future career in engineering, the prospect of a four-year educational program may be daunting. However, this time spent learning will pay off in the future. It is estimated that lifetime earnings for an employee with a bachelor’s degree can exceed $3 million.
As the current focus shifts more to the tech sector, computer science and engineering jobs will be in high-demand. Now is the time to secure your future. If you have an aptitude for engineering, take the time and go for that bachelor’s degree – it’s worth it.