You’ve heard that your base salary is largely determined by your education level – but did you ever wonder exactly how much education matters? If you’ve got enough smarts, it shouldn’t matter whether or not you have formal training – right?
Wrong. At least, it might not be so simple. As job scarcity continues to drive more competition to each open position, administrative office support professionals with strong educational backgrounds are the ones scoring high-paying jobs. Because employees with formal training are increasingly preferred, the relationship between compensation and education is becoming even more prominent across different sectors of the economy.
The Big Picture: Why Degrees Matter
• Depending on industry and specialty, pay increase per degree will range from 10% – 300%!
• Return on investment of tuition within 3 to 5 years
Education is an essential ingredient on the path to professional success. Employers have increasingly used diplomas and degrees as a way to screen applicants. And once you’ve landed the job you want, your salary will reflect your credentials. Experts say that a bachelor’s degree is a good idea no matter what the major because earnings tend to rise as education levels increase.
According to the U.S. Department of Education’s National Center for Education Statistics, between 1980 and 2005 “young adults with at least a bachelor’s degree consistently had higher median earnings than those with less education.” In 2005, male workers ages 25-34 with a high school diploma or GED had a median income of $29,600, while those with a bachelor’s degree or higher earned $48,400. Among women with the same characteristics, those with a high school diploma or GED made $23,500, and their counterparts with bachelor’s degrees or higher earned $39,500.
Focus: How Does This Effect Admin Professionals?
It is plain and simple: the higher your degree, the more you prove your knowledge and skills. The more you can prove your knowledge and skills, the more employers want to hire you. The more employers want you, the more responsibility and status they give you. This snowballs your career, accelerating it to where ever you want to go within a company.
It is about having the skills and knowledge to move you up the ladder. Without a college degree, the chance of this are slim – especially in today’s tight economy. -adminsecret
