Are you considering if continuing your education is worth the investment or not? The truth is, it can pay off in more ways than one. While the time and money required for higher education may seem like a hurdle in getting another degree, the investment is well worth it. Whether through postgraduate degrees or professional certifications, pursuing higher education offers benefits that extend far beyond the classroom, and here are a few reasons to convince you:
Increase Your Earning Potential
According to a Georgetown University Centre on Education and the Workforce research, professionals with a master’s degree earn an average of $3.2 million over their lifetime, while those with only a bachelor’s degree earn an average of $2.8 million. This is because a master’s degree allows you to gain specialized knowledge and skills employers highly value.
Many corporate recruiters also prefer MBA graduates since these professionals have a diverse skill set of soft and hard skills that come in handy in many jobs. According to the Graduate Management Admission Council’s Corporate Recruiters Survey Report 2021, 94% of firms in the United States questioned intended to hire MBA graduates in 2021. Pursuing an MBA has also become more accessible because students can enroll in an online MBA school, allowing them to manage work and study while receiving a highly sought-after graduate degree.
Similarly, doctoral degree holders earn $4.5 million more than masters. So while more education often means higher costs, the long-term financial rewards can make it worth the investment.
More Job Security
A postgraduate degree improves your CV and provides you with technical skills and an in-depth understanding of your chosen subject. As a result, you can tackle challenges in your job and do your work duties more efficiently. You also stand out among your coworkers since it indicates your dedication to working hard and improving yourself. This boosts your chances of landing a job, even in tough economic circumstances.
Additionally, in some professions, postgraduate degrees are required for advancement to higher-level employment. For instance, earning a master’s degree in psychology is essential to becoming a licensed psychologist.
According to the US BLS, graduates without a high school diploma had an unemployment rate of 4.3%. People with some college or associate degree had an unemployment rate of 3.8%. Those with a bachelor’s degree or masters had the lowest unemployment rate at 2.2%. Thus, higher levels of education are associated with lower unemployment rates and higher earnings potential.
Explore New Fields
Graduate school is a great opportunity to explore new subjects you may have been curious about but didn’t have time to explore as an undergrad. For instance, if you have a background in biology but are interested in exploring the field of psychology, pursuing a graduate degree may allow you to broaden your knowledge and skills in this area and potentially diversify your career options. Similarly, if you have an English degree but are interested in web design and development, graduate school can help you gain the necessary knowledge to pursue this new area of interest.
Graduate schools provide an ideal environment to cross-train in new disciplines and become a more well-rounded and versatile professional.
Gain Access To A Wider Professional Network
Graduate school is a great way to find mentors and people who can lead to new career opportunities. Professors can become mentors and guide your research interests and career aspirations. You’ll also meet fellow students who can become colleagues in your field. These connections can lead to job opportunities and collaborations.
A broader network means exposure to more career opportunities, such as internships, research positions, job openings, and more. These connections may also offer moral support as you navigate life’s hard patches.
Develop Your Soft Skills
Higher education helps you hone skills. Known as soft skills, these include abilities like communication, critical thinking, and problem-solving – all of which are highly valued by employers. Some skills you’ll hone include the following:
Postgraduate studies require extensive reading, researching, speaking, and listening. You must communicate clearly with professors, classmates and during internships. This helps strengthen your ability to articulate complex ideas, actively listen, and tailor your message to different audiences.
2. Critical thinking
In higher education, you must analyze information, form logical arguments, and evaluate various perspectives. This helps develop critical thinking skills like open-mindedness, logical reasoning, and judging the credibility of sources. Such skills help make meaningful life and career decisions.
Pursuing an advanced degree exposes you to challenging concepts and situations that require creative solutions. This helps build problem-solving skills by identifying issues, assessing options, and implementing solutions.
Postgraduate education exposes you to new subjects, perspectives, and ways of thinking that challenge your assumptions. This helps cultivate an open and adaptable mindset that is willing to accept change and step outside your comfort zone. Such flexibility is essential for success in a competitive job market.
Achieving higher education teaches you new concepts and skills that equip you to tackle complex challenges. This encourages you to take calculated risks and face new challenges with courage and confidence, knowing that you have the skills and determination necessary to overcome them.
Investing in higher education opens possibilities for better career opportunities and higher pay. It allows you to gain knowledge and skills to navigate workplace challenges. You’ll also meet interesting people who share your passion for learning. Education is one of the few things no one can ever take away from you. So keep learning, growing, and pursuing that next degree or certificate.