Studies show that only 46% of people ages 25-29 have completed an associate’s degree or higher as of 2017. Additionally, the pay gap between college graduates and non-graduates reached a record high in 2013. Based on an analysis of Labor Department statistics by the Economic Policy Institute in Washington, Americans with four-year college degrees made 98 percent more an hour on average in 2013 than people without a degree. That’s up from 89 percent five years earlier, 85 percent a decade earlier and 64 percent in the early 1980s.
It seems like everywhere you look, someone has a side hustle or is dabbling in entrepreneurship, which brings up the question of “Do you need a four year degree to land your dream job?” There is no perfect answer for everyone, however it is important to weigh out the pros and cons of obtaining a four year degree. When you’re debating if a four year degree is right for you, ask yourself the following questions.
What Stage of Your Career Are You In?
This is a crucial question to keep in mind. If you’re just starting out in your career, a four year degree will likely be necessary, however if you’re in a later stage of your career, a four year degree is less important than having industry experience. As higher education becomes more common, it becomes more of a requirement for entry level jobs. On the flip side, if you’ve been in the workforce for a long time, college degrees probably weren’t required when you started out, so they won’t be a hard requirement once you’re deep into your career.
If you have 10+ years of experience, your on the job experience will be much more beneficial than a degree that you obtained over a decade ago. In this case, focus on highlighting what you’ve accomplished and what value you bring to the table instead of your level of education.
What Do You Want to Do?
This question is harder than it looks, however it is the basis of determining the answer to “Do you need a four year degree?” Determining what you want to do will help you figure out what kind of education may be required and what path you should take.
For instance, if you want to go into a specific field that required hands on technical work, perhaps you can forgo the four year degree and focus on a vocational/trade program which truly enhances your abilities through a nontraditional route. Trade schools are extremely underrated and can provide amazing resources to build a very successful career.
On the other hand, if you want to go into a sector of science or engineering, you most definitely need a four year degree to obtain a job and get the required licensure.
Do You Want to Create Something for Yourself or Work for a Larger Company?
The real question here is, are you going to be paid by a larger company, or are you going to work for yourself/run your own business? Figuring out if you want to create your own company/business or work for an established organization can help determine the amount of schooling you need. While a four year degree would be extremely beneficial in both instances, a four year degree will enable you to obtain higher wages if you’re working for another company, whereas you’ll likely be able to get away without a four year degree if you are working for yourself.
If you are trying to go into the corporate world or at least start there, a four year degree will give you the basis and foundation to obtain the kind of job(s) and pay that you want.
What Is the Required Degree In Your Desired Field of Work?
Once you’ve determined what path you want to take and/or what job you want to obtain, go online and do some research. Is there a common degree that is required? Do most of the jobs you’re aiming for either now or in the future require a certain certification? Even if you are going to be running your own business, are there educational or technical requirements you must meet in order to do so? If so, what are the steps to getting certified? Do you need a minimum amount of education? Figure out what you need to do education-wise to qualify for the job you want.
So, Do You Need a Four Year Degree?
If you’re just starting out in your career, obtaining a four year degree will always be beneficial. Regardless of your education path (online classes, transferring from a junior college to a four year program, etc.) four year degrees have become a common requirements for those just entering the workforce.
While there are people who can get away without having a four year degree, education will always benefit you, and has become a pretty common requirement to obtain a job early in your career.
Think of it like this: If you are applying for a job, and it comes down to you and one other candidate who are completely equal, employers will have to split hairs to decide who they want to hire. In this instance, they will often choose the candidate who has a better education. Additionally, full-time workers ages 25 and over without a high school diploma had median weekly earnings of $504, compared with $700 for high school graduates, (no college) and $1,266 for those holding at least a bachelor’s degree. Getting a four year degree might seem daunting, however you will learn a lot about yourself and your industry through a college degree. As an added bonus, you will likely be able to earn a higher salary upon graduation than those without degrees.
If you have the opportunity, getting a four year degree will benefit you in many ways, both socially and in the workforce. Think that a traditional college education isn’t for you? Explore other options such as trade/vocations schools, online classes, or community college classes to educate yourself based on what you want and need.
Do you need a four year degree to land your dream job? While it isn’t 100% necessary, it will greatly benefit you and may make life easier in the long run.