The facts are clear: to make the most money, no matter your chosen field, hitting the books helps. Once upon a time, holding a bachelor's degree and landing a job with a solid employer meant life-long career stability. In today's world, ongoing job training, the pursuit of advanced degrees, and leapfrogging from company to company--or starting your own business--are hedges against an uncertain professional existence. When it comes to earnings and education, more is better.
Economic Reality and Education
Economic realities mean that many Americans will work longer in their lifetimes than their retired forebears, and scores of us will undertake dramatic career makeovers with the assistance of colleges, trade schools, and professional certification programs. Does ongoing learning guarantee higher wages? Not always, but rest assured that it can help you keep pace in a competitive job market.
Business consultants Steven Kerno and Kevin Kuznia maintain that to maximize job security, American workers need to develop a "marketability of knowledge, skills, and talents, and the ability to adapt to changing and uncertain circumstances." In a similar vein, The Clearinghouse on Higher Education asserts that continuing education can increase both earning power and job security. To increase your chances of moving up the all-important tax bracket ladder, consider the following educational options.
Adding an MBA
Graduates of MBA programs are finding higher bonuses and higher earnings when they enter the job market. In a recent survey published by CNN Money, MBA candidates said that they expected to earn upwards of $90,000 immediately after finishing their programs. Five-year salary expectations reached nearly $170,000, with the highest wages projected in the petroleum, investment banking, and management consulting sectors. If you'd like to join the more than 100,000 Americans who earn an MBA each year, think about pursuing your business degree online
Earning Your BSN
Nurses can increase earnings and multiply their chances for administrative advancements by completing a Bachelor of Science in Nursing (BSN). Many BSN programs offer accredited, accelerated learning through full-time and part-time distance learning options. By completing a BSN, you could increase your annual salary by nearly $10,000. Moreover, nurses with BSN degrees or additional training have greater opportunities to move into higher-earning positions as head nurses, administrative managers, department chiefs, and nurse practitioners. Add a master's degree and you could be on the fast track to upper management.
Computer Support Specialist to Information Systems Manager
You may have begun your IT career as a help-desk technician or other computer support role, but that associate's degree in computer science may not sustain you for very long. The middle 50 percent of support specialists earned between $32,870 and $54,700 in 2007.
If this is a little below your desired salary range, get back to school. You can do it while you work by enrolling in an online degree program in information systems or networks. A bachelor's degree can expand your options, and earning an MBA with a technology specialization can put you in place to earn some of the top salaries in the industry. 75 percent of information systems managers earned more than $84,790 in 2007, according to the Bureau of Labor Statistics (BLS).
Teaching Certification to Graduate Degree
If you've earned a teaching certificate to become a classroom teacher, you may enjoy high job security, but suffer from a relatively average paycheck. If you desire a take-home pay that transcends the industry norm, consider going into education administration. Most administrators began as teachers, and then complete a master's degree to advance to the top jobs in public education.
In 2007, the median annual salary for secondary teachers was $49,420. However, secondary school administrators brought home nearly 40 percent more than their teaching counterparts that same year, earning a median annual salary of just over $80,000. Many teachers keep their classroom jobs while pursuing higher degrees through online or part-time programs
If you love the industry you're in but want to bring home a bit more green, the evidence is abundantly clear: get schooled, get paid.
This article is sponsored by Lincoln College of Technology
Lincoln gives you the academic reputation and personalized attention of a traditional college along with the convenience, flexibility, and value you need and expect from an online college... That's the Lincoln Difference.
