A College Degree Matters

A recent report from the Georgetown University Center on Education and the Workforce projects workforce needs from the present through 2031. Considering demographic shifts and the impact of technological changes, the authors conclude that the labor market in the United States will continue to place a premium on education beyond high school.

The report defines three educational pathways to jobs: the bachelor’s degree pathway (completion of a 4-year degree), the middle-skills pathway (high school diploma and some additional credentials but not a 4-year degree), and the high school pathway (high school diploma or lower).

Some of the authors’ most compelling findings:

• The largest growth area for good jobs with the most flexibility in terms of job choice between now and 2031 will be for those on the bachelor’s degree pathway. (The report defines good jobs as those with a minimum annual salary of $43,000 and a median of $74,000 for workers in the 25-44 age group, and a minimum of $55,000 and median of $91,000 for those in the 45-64 age group, all in 2022 dollars)
• The likelihood of obtaining a good job will increase on the bachelor’s degree pathway and will decline on the high school and middle-skills pathways.
• Workers in STEM occupations will have the best chances of landing a good job in 2031, as 9 out of 10 STEM jobs will be good.

In short, while you could find a good job with just a high school diploma, the odds of that are low and are projected to decline in the future. On the other hand, the probability of finding a good job is highest for those in the bachelor’s degree pathway, and those odds are expected to increase over time.

As we consider changes to the high school curriculum based on the premise that college may not be for everyone, we must be careful to provide more complete information on what that means in the long run. A college degree makes a difference. College matters.

Go Jags!

Latha Ramchand
Chancellor