Is a university degree still valuable? This question has long been a topic of debate among educators, communities, parents, and students. The answer is: some degrees definitely hold value, while others have little to no value.
Many students hope that after investing four years (or more) of their lives and tens of thousands of dollars, they can ensure they receive more than just a piece of paper and a student loan equivalent to a mortgage. Parents also wish for their children to smoothly transition into employment after graduating from college with a decent salary.
According to a 2024 survey by the Pew Research Center, nearly half of Americans believe that the importance of a four-year degree in obtaining a high-paying job has decreased compared to twenty years ago. Major companies like Apple, IBM, and Hilton have eliminated the degree requirement for many positions and instead opt to evaluate candidates based on their experience and practical skills.
People are increasingly realizing that traditional university education often fails to provide the specific skills needed by today’s employers.
The Pew Research Center’s survey also found that over half of college graduates are underemployed, holding positions that neither require a degree nor fully utilize the knowledge gained during their university studies. Even after ten years post-graduation, 45% of individuals are still in such jobs.
Despite these trends, it does not necessarily mean that bachelor’s degrees have become entirely worthless. Some good jobs still require relevant professional degrees, so when choosing a university, it is crucial to consider not only the school but also the choice of major.
In a report by Forbes, Dr. Walter L. Tarver III, founder of education consulting firm T3 Group, stated, “In today’s fiercely competitive environment, college students must pay more attention to educational strategy,” and “When choosing between a liberal arts or a professional degree, one must objectively weigh the return on investment.”
Dr. Tarver, with 28 years of experience in higher education, including roles such as a university career services director, explained that professional degrees often provide direct preparation for entering a specific field because the necessary practical knowledge and experience are typically included in the curriculum. However, when pursuing a liberal arts degree, solely relying on the degree itself is not sufficient to stand out. Liberal arts degrees must be combined with experiential learning opportunities to not only enhance students’ job prospects but also provide them with valuable insights and skills to excel in their chosen field. This transforms the journey of higher education from mere academic achievement to a powerful tool for shaping the future.
Here are five valuable university majors compiled by Forbes:
– From artificial intelligence to application development, the field of computer science and IT is thriving. These majors have widespread applications and lucrative salaries, spanning across all industries.
– The average annual salary for software developers is approximately $120,000, with even higher salaries in areas like artificial intelligence and network security, depending on the location.
– The demand for nursing and specialized medical positions continues to grow and is difficult to automate. The average annual salary for registered nurses is $82,000, with higher salaries for nurse specialists and advanced practice nurses.
– Licenses obtained through the NCLEX-RN exam can lead to advanced certifications such as Family Nurse Practitioner (FNP), Certified Emergency Nurse (CEN), or Critical Care Registered Nurse (CCRN). Specialized medical positions like radiologic technology or respiratory therapy offer lucrative starting salaries and stable job prospects.
– Careers in mechanical, civil, electrical, or aerospace engineering are stable and crucial. The average annual salaries in these fields are around $95,000, with some reaching six figures. Internships are crucial, and proficiency in tools like AutoCAD, SolidWorks, and Python is essential. Certifications like Engineer-in-Training (EIT) and Professional Engineer (PE) licenses are key for long-term growth.
– Technical trades are flourishing and do not require taking on over $100,000 in student loans. Electricians, HVAC technicians, welders, and plumbers earn an average annual salary of $80,000, with the potential to reach six figures through specialization or entrepreneurship. Starting at a vocational school or as an apprentice and obtaining certifications like EPA 608, NCCER, or state licenses are recommended paths.
– A professional business degree offers lucrative returns. Positions in finance, analytics, and supply chain are in high demand, with an average annual salary of $100,000. Certifications like Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) are sought after in the financial sector. Certificates in Google Data Analytics, Microsoft Power BI, and Tableau are crucial in the analytics field, while APICS CPIM and CSCP are top certifications in the supply chain sector.
– The landscape of teaching positions varies. There is a particularly high demand for STEM and special education teachers. The average annual salary for K-12 teachers varies by state, ranging from $50,000 to $70,000, and teachers with STEM and special education certifications can receive additional pay or bonuses.