There are plenty of data points to bolster the idea that getting your bachelor’s degree is worth it.
College grads earn 68% a year more, on average, than workers with only high school diplomas, according to New York Fed data. Degree-holders also tend to have lower unemployment rates, higher homeownership rates and higher marriage rates.
But not all degrees pay off the same. The school you attend and the major you pursue can make a big difference.
That doesn’t mean you need to go to an expensive or prestigious school to be successful, such as an Ivy League institution like Harvard University or an “Ivy-plus” like Massachusetts Institute of Technology, says higher education expert Jeff Selingo.
“Even if you don’t go to one of those elite schools, you can land a fulfilling job with a steady paycheck after college by pulling two levers while you’re there: acquiring the skills employers want most and getting an internship,” Selingo writes in his new book, “Dream School: Finding the College That’s Right for You.”
Selingo drew on educational outcome research and surveys of over 3,000 parents to provide a guide to help students and their families make sure their college degree really pays off. He finds that students can obtain the two pillars he mentions — skills and internships — at a number of colleges, not just the Ivies.
Plan your course load strategically
Selingo acknowledges that “selective colleges do sometimes have better earnings outcomes.” But at other top to mid-ranked schools, students can achieve similar career outcomes by picking a well-paying major and obtaining employer-favored skills through coursework and internships, he tells CNBC Make It.
“Your major does matter,” he says. “[Science, technology, engineering and math] and business majors make more than humanities majors.”
When it comes time to find a job after graduation, “employers are increasingly hiring not just on the college you went to and what you majored in, but can you actually do the job?” Selingo says. “A lot of that comes through skills that you can show off because you interned, or skills that you might get through an extra class.”
Complementing your chosen field of study with skills you know employers like to see, such as industry-specific software or competence with artificial intelligence, can help boost your career just as well as the name of a prestigious college.
“I’m a history major, but I know data visualization. I know Canva, or I know Adobe,” Selingo says as an example. “If you have those opportunities, you get those skills, you get those internships, you can equal the outcomes, even outdo the outcomes, of more selective schools.”
Check in with career services
Getting a job or internship while you’re in school can be essential to gaining the skills and work experience employers will want to see on your resume after you graduate, and the right college can help facilitate that, Selingo says.
He encourages students and families to explore each school’s internship opportunities and find out if they’re required as part of the curriculum. Campus jobs may also be helpful if the school offers roles that deliver “real world experience,” Selingo says. Some colleges may even partner with local businesses to incorporate student workers in project-based roles, he says.
“You want to know when [schools] invest in resources such as advisors or career services. Are they really making a dedicated effort to do that?” he says.
Beyond reading the college’s brochures and website, Selingo encourages prospective students to ask current students how helpful the career offices are, what their advisors are like and how accessible required courses are.
“There are a lot of little clues that you can find,” he says.
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