Over the past decade, the percentage of people with a bachelor’s degree or more from their schooling increased by 7.5%. Obviously, this makes the job market more competitive since there are more qualified individuals. At the same time, the number of jobs that require a college degree actually decreased by 7%. So is a degree still necessary in the modern business world? In part, it depends on what you want to do.
According to the U.S. Bureau of Labor Statistics:
- About 5% of jobs require a professional, doctoral, or master’s degree
- About 18% of jobs require a bachelor’s degree
- 95% of jobs in the U.S. require a bachelor’s degree or less
So you need to know what an entry-level position in your chosen field will require. Plus, you may want to think about how much you hope to earn. While many jobs don’t require a degree, a report in Forbes magazine shows that there is still a clear discrepancy in earnings depending on a person’s education level. For example:
- A person with a high school diploma only can expect median earnings of $36,600/year
- A person with a bachelor’s degree can anticipate median earnings of $59,600/year
Get the Help You Need for Your Education Planning
College Planning Source is here to help! Get in touch today by calling 858.676.0700, or you can request your virtual assessment online (we are currently accepting students from the classes of 2024, 2025, and 2026). We look forward to helping you plan for your education and career goals.
