For many high school students, a career in the trades has become more attractive due to the soaring cost of a college education and the looming disruption of artificial intelligence in the white-collar world. This path is indeed a worthwhile choice given employment shortages in many trades and the myriad opportunities it offers for stability and financial comfort.
Yet a college degree remains a reliable indicator of success, despite concerns about affordability and questions about whether the value offered by four- and two-year institutions of higher learning is worth the significant investment required. A recent analysis of Texas public college students found that those who choose this academic route do indeed reap the benefits, with a few caveats.
The report, compiled by the Postsecondary Commission, followed 29,000 students who attended public colleges and universities in the 2008-09 school year to determine whether they saw a boost in net earnings compared to those who did not pursue degrees after high school. “On average,” CBS News reported this week, “college entrants outearned high school graduates by almost $87,000 over that 15-year period, even after accounting for college costs.”
Over time, those graduates in a host of different majors earned higher salaries than those with only a high school diploma. Those with degrees in engineering and architecture had the biggest advantage, earning an extra $204,686. Those in business or economics took home an additional $184,000. Even liberal arts majors benefited to the tune of more than $35,000.
“Those pursuing a bachelor’s degree — regardless of field of study — are likely making a wise investment,” Michael Itzkowitz, president of a higher education consulting group, told CBS of the findings. “That’s a financial gain that will likely grow even more over time, as these learners and earners progress throughout their careers.”