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#1 The Pay is Better
Imagine growing your monthly income by $2,000—that’s the financial distance, on average, between a high school diploma and a bachelor’s degree.
The median annual salary for someone with a high school diploma is $40,500. That figure swells to $50,100 when you add an associate degree and increases by more than half when you add a bachelor’s degree, which comes with an average salary of $65,400.
#2 The Benefits Add Up
Employer-provided benefits, such as health insurance and paid time off, contribute significantly to one’s total compensation—adding a value of anywhere from $2,000 to $7,000 to your salary.
With a bachelor’s degree, the likelihood of having employer-provided health insurance grows by 47%, and the likelihood of having a retirement plan increases by a whopping 72%.
#3 More Jobs Open Up to You
Rates of employment increase significantly with college attainment. In fact, the probability of being employed is 24% higher for those with a bachelor’s degree than those with a high school diploma.
Pending approval from the Higher Learning Commission (HLC), Maricopa Community Colleges will offer bachelor’s degrees in fields where there is high demand for professionals with a four-year credential and where a bachelor’s degree is required for entry-level and leadership positions.
#4 Your Future is More Secure
Quite simply, a bachelor’s degree puts you on a more stable path—everything from job security to retirement savings. With a four-year degree, you lower your risk of being out of a job by 74%, and your retirement income more than doubles.
#5 The Life You Lead is Healthier
College graduates are less likely to smoke and more likely to exercise, maintain a healthy diet, and seek routine preventative medical care.
#6 You Know Your Neighbors
Those with bachelor’s degrees often live in communities that experience significantly lower crime, a more engaged citizenry, and greater trust and accountability.
#7 You're Happier 😊
It’s not difficult to see how the security and health benefits of a bachelor’s degree might enhance one’s overall life satisfaction—but a 2010 study also found that money plays a role.
Researchers at Princeton University found that a person can achieve peak happiness with an annual income of $75,000—a specific amount of money that has the effect of diminishing financial stress while opening up opportunities for well-being.
When accounting for total compensation, a bachelor’s degree can get you nearly all the way there, and that’s something to smile about.
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