Do you have a bachlors degree and if so do you make more then $50,000 with that degree a year?
Does your hubby have a bachlors degree and if so does he make more then $50,000 with that degree a year?
Do you have an associates degree? Do you make more or less than $35,000 a year?
Do you have a technical degree and make less than $35,000 a year.
Do you have high school degree or less and make over $35,000 a year?
Plaese answer if you would...as we debate more in our family on whether we want to further our education. As I watch my classmates with bachlors degree even some with two bachlors degree and still no job 5 years after college I begin to wonder what is going on...I have friends who never even finished school who are in better positions to those will full 4 year schooling.
My hubby has a bachlors degree and makes more than $50,000. I have an AA and I'm a SAHM. But my husband isn't using his degree but I think having any degree helps.
I have a bachelor's degree but make less that $50,000/yr but I am sure that I make more than I would if I didn't, particularly in the small town I live in.
My husband has a master's degree and makes less than $50,000/yr but he is a public school teacher with only a couple of years experience.
Overall, I believe I have done better and had higher salaries than I would have if I didn't but I know there are people out there that make more than I do and don't have a degree. My parents always pushed education not to get a good job but as they put it "to make your mind a better place to live". However, that was before going to college put you in debt for half you life.
There is research that has been done to give you true numbers for these questions. The Mamapedia group is not a valid sample of the effect of schooling on income. There are too many variables to sort out our individual situations.
I am currently PhD ABD (All but Dissertation). In the 12 years I was working full-time with a master's degree, my income ranged from $50,000 to $101,000 plus benefits and bonuses (up to 20%), and sometimes stock options.
I have also known several people with little or no college who were in the same positions I was in, or they were my Directors. Their experience, skills, personal traits, and professional connections allowed them to succeed to that level. I also know people with MBAs and Master's degrees that have been out of professional work now for several years, and scraping by with whatever work they can find (driving a Fed Ex truck, for example).
What's going on is - the worst economy and highest unemployment rate we've had since the Great Depression. Corporations, and even factories, that require more and more specialized training and experience to even be considered for hire.
Schooling can be a great asset, but "it depends". The state of MN has a great webite, www.iSeek.org that shows you the estimated demand for various types of work into the future, the required education for that job, and which schools offer that education. I recommend it highly as a resource in making career and education decisions.
I normally don't answer salary questions, but I don't think an education = poverty.
My DH and I both have 4 yr degrees. He has additional certifications and we have both taken continuing education classes. We both at one point made a decent salary (I am WAH now, so my pay is very different).
I know someone who was incredibly frustrated because the guy that was perfect for the job did not have a degree in anything and company policy was that for management level, they had to have a 4 yr degree. They would NOT budge. The guy couldn't get the job.
You will always find the exception to the rule, but we encourage the kids to get a degree or additional training to do SOMETHING past HS because it can be tough if you don't have the right paperwork. If SD wants to open a bakery, a business degree would do her well.
It's also a matter of other factors - timing of graduation (it's a tough economy) and the person (are they a go-getter? what are they willing to try?). I know people who have a degree and unwilling to look outside the box. If you want to work for company x, try being a temp receptionist. That's how I got one job. They had an opening, they tried me out, I got hired FT. It had nothing to do with my degree but it was a decent job and FT came with benefits. My old boss was an anthropology major, but learned web design. Sometimes you flex. Sometimes you must have THAT degree and sometimes they just want to see you stuck with a program. My sister is graphic art. The 4 yr degree got her in the door, and now that she's doing well in payroll, she's going back to get an accounting degree. My own mother got a 4 yr degree and didn't pass the certification test (by only a couple of points, even!) and so she can't have her dream job. She basically threw away her degree. That's about HER and not her education.
I think it totally depends on what field you are furthering your education in.
In my field, a writer with a bachelor's degree makes no more than one with a master's. It's all about your portfolio.
My husband has his GED. He owns his own business.
I have a bachelor's degree and I'm not using it.
My brother's girlfriend has a master's and she wants to get her doctorate. She makes about 35k a year.
It's not about the education. It's about what you're going to do with it, and whether the person who is hiring you cares about your education or your actual skills more.
I work in HR and honestly right now it is all about experience rather than education. Companies want people who can jump in without a lot of training and there are ample people out there with the experience. Education is a plus, but the experience is what we are looking for, at least in my experience.
That being said I have a bachelor's degree and make over 50K, but that is due to experience I think rather than education.
My husband has an associates, a bachelor's, a master's, and a Law Degree and makes over 50K but he is not doing what he wants to do and is miserable in his job. He timed all of his schooling wrong and has not been able to use his mater's or law degree because of the economy.
We both have Bachelors Degrees. My husband makes a 6 figure salary with many other perks. I am home full time so I bring in zero...and I wouldn't trade it for any amount of money.
Good luck and best wishes at finding what is best for your family!!
Yes -both my husband and I have bachelor's degrees and we both make over 50,000 per year.
A lot of it depends on what your degree is in and how much in demand people with those skills or that knowledge are at the time. I do think many people would do better if we also focused on vocational education as well as college. There's NOTHING wrong with vo-tech school and not going to college -it's not for everyone and it doesn't prepare everyone for what they want to do. A good plumber, electrician, mechanic, etc. who gains a good reputation can make quite a nice living -and often far more than some folks with college degrees. If you have friends who have no high school diploma and are doing well, then my hat is off to them, but people usually do need some type of formalized college or training after high school to do well or get jobs these days. It's also important to look at types of work that one may be able to do well now (at a younger age), but most likely won't be able to sustain as they age or are old (heavy construction, any lifting position, waiting tables and bartending -basically jobs that require fairly or flat out strenuous physical labor).
I have a Master's degree (forensic psychology), and I do not make more than $50k, but it's because I choose to work part-time and stay home part-time. If I worked full time, I would likely make more than $50k, but it depends on the job.
My husband has a Bachelor's degree (computer engineering), and he does make more than $50k per year. He also has an associates degree in a similar field.
I agree with the other ladies, though. It depends on what you do with the degree that matters. Education does not always equal $$.
I do not have a degree. I am a SAHM and I own my own business. What I make directly reflects the amount of time I put into it. (This is not a party-selling type of company. I actually own the company.)
My husband has a Master's. He does make more than $50K. He retired from the AF, so his pension is nearly that much alone. He also runs a non-profit (not a lot of $, but so worth it for the joy of the work), and does some consulting work (owns his own company) on the side, which pays well.
My son is 19. He is an entrepreneur. He chose not to do college because he felt it would waste the time he could be using building his business. He does very well, and is very happy with his decision.
I think the amount you make really depends on the specific person, not as much on the degree. Someone who is a go-getter will tend to do well with whatever path they take. We know degreed people with no jobs, non-degreed people with fabulous incomes. We see people with initiative make more than the unemployed person who is afraid to try something new. They will only look for something within their narrow,specific field. But, others will ditch a bad idea (or badly timed idea), and jump on a new one and make $200K + per year at the new idea. They are not working for someone else, only for themselves. It takes motivation, ingenuity, daring, confidence. And effort. For those waiting for the phone to ring, they will never do very well financially. You've gotta have guts and drive.
Yes, I do. I do not make more that $50K because I CHOSE to stay home and if I were employed full time, I would not make $50K. Educator (same price tag as everyone else's degree)
Yes, he does. And yes he does. He chose IT because that is where the money is and the demand is. It is not what he really wanted to do, but felt if he was going to spend that kind of money on an education, he should make a decent salary.
He only made $30K without a degree. (4 years ago in MN)
I have a BS in computer science and have made > $50,000/yr at times. We've moved around a lot & now I'm not making anywhere near that, doing something else.
Hubby has a MS in science education and is making > $50,000 currently.
When I just had my AS degree, I was making $40,000, but that was a long time ago.
My brother only has high school diploma + 1-1/2 years college & I'm sure he makes in the 6 figures and has a huge house. He's an insurance agent/broker.
I have a Masters degree in science (A Bachelors degree of Science before that) and working 20 hrs a week I made about 40K. My husband has a PhD in Physics and makes a little over 100K. I highly recommend graduate school. It is the norm in our family - we expect our kids to do it. If I were working as a Bio tech with only a bachelors degree I would probably make 35K to 40K working full time.
I think it just depends on your drive and your field.
I have a bachelors degree and became a teacher (started out making $34,000 a year I think). Now I'm a SAHM, so 5 years of college was used so I could teach for 5 years.
My husband has a high school diploma and NO college hours and made plenty more than me when he lived in California and worked in sales. Now he's not in sales anymore, but still makes more than I ever did - he's working in the electrical field.
I know plenty of people who have a bachelors degree and then go get a job making $12 an hour. I don't get it. I had to get a degree in order to teach. But if you don't want to work where you don't HAVE to have a degree, then don't waste your money on a 4-yr college. Get training or an associates in the field you want to work in and save your time/money.
I think it depends on your field of study and your personal drive and work ethic.
Plenty of people have no more than a HS diploma but the drive and will to make things happen and they do. Plenty of college grads think jobs will be handed to them because they are a college grad. It is simply MUCH MUCH more than a degree or diploma.
As to your survey:
1. Yes , 4 yr degree and well over the numbers you listed per year
2. Yes 4 yr degree plus MBA and well over your numbers per year
We are driven, failure is not an option. We started our own company and have lived off of it for 3 yrs now. We are in a very technical industry (raw materials) with yearly sales over 3 million. We broker materials, consult manufacturers, etc.
Before we started our company, hubby was in the same industry for many years. We knew the ins and outs of the business, the networking and how to make things happen. We financed our company with OUR money, no bank loans, etc.
We are believers in delayed gratification, living below your means and no debt. It would have been very easy to justify a summer home, and more extravagant lifestyle than we live and can afford but we chose to save the money instead and now we are reaping benefits from those decisions.
As for our 16 yr old daughter... college is not an option. She is like us, very driven, knows what she wants and works to achieve it. She is currently shopping colleges and Duke is at the top of her list. We started shopping colleges last year at 15 yrs old. AND, as our personal responsibility, she is fully funded for college... where ever she wants to go. Her job is to get out there and do well is school, come out of college with no debt and carry on success.
A lot of it is a mindset. Some people are ok living just ok. We always strive for the best. We are mid 6 figures