Higher education means higher pay -- to a point. A bachelor's degree will boost your earning power in nearly any field. Beyond this baseline, job experience and talent can have just as much -- if not more -- impact on your paycheck than a formal credential.
U.S. Census statistics on education and earning power read like an advertisement for college degrees. Bachelor's degree holders earn nearly double what high school graduates make, boosting average income levels from $27,915 with a high school diploma to $51,206 after four years in college. Master's degree holders earn almost fifty percent more, reaching an average of $74,602.
But averages don't account for how particular people fare in particular career paths. It's not unusual for workers to beat the $75,000 mark armed with no more than a bachelor's or associate degree and an ability to get the job done.
Offer: Search for Schools
What a difference four years make...
The bachelor's degree lives up to its reputation as a springboard to success. Choose a high-demand field, and your college degree could yield above-average returns right off the bat. Careers that offer graduate-level incomes to bachelor's degree holders include:
Engineer
According to the Bureau of Labor Statistics, "Starting salaries [for engineers] are among the highest of all college graduates." Petroleum engineers currently command $75,321 at the entry level, according to Salary.com. With experience, engineers in high-demand fields can expect to see six figures. Of 18 engineering specialties listed in the BLS, 15 earn a median salary of $75,000 or more. Petroleum engineers come in at $113,890.
Engineering manager
Most engineering specialties feature six-figure salaries at the management level. In fact, engineering managers rank among Forbes magazine's 25 highest-paying jobs in the U.S. A management position does not require a master's degree, though graduate-level management courses are a plus.
Education: A bachelor's degree in engineering is the ticket to a career in engineering. Widely available online, the degree offers career training in applied math and science. Advanced courses allow students to specialize in areas such as civil, mechanical, chemical, environmental and biomedical engineering.
Salary:
- Civil engineer: $75,230
- Engineering manager: $115,610
High pay for performance
At the end of the day, the bottom line determines your paycheck in these results-driven careers. If you can deliver the numbers, you'll succeed with or without a degree.
Sales or account representative
The sky's the limit for sales and account representative salaries. With pay structures based on sales commission, sales salaries reflect how much revenue the representative brings in for the company. A sales representative may develop customer relationships, represent a product or service, negotiate sales contracts, and manage various sales accounts. Success as a sales rep often comes down to a quality that can't be taught in a classroom: a winning personality.
Education: While a bachelor's degree in business or economics is preferred for a job in sales, it's not required. The college degree helps you develop the communication, analytical and technical skills to sell more effectively.
Salary: Earnings vary based on performance.
- Sales representative, technical and scientific products: $76,460
- Sales representative, other products: $60,190
Personal financial advisor
Clients care about a financial advisor's investment record, not an advanced college degree. What counts is an advisor's ability to assess a client's financial needs and plan investments to meet specific goals. Knowledge of available investment products and sound intuition can deliver results -- and results mean higher commissions and more clients.
Education: A bachelor's degree in finance, accounting or economics is not required for some positions, but the degree offers a solid introduction to financial instruments and planning strategies. Financial advisors also benefit from applied courses in investments, taxes, estate planning and risk management.
Salary: Earnings vary based on performance.
- Personal financial advisor: $89,220
Learn the ropes
Hands-on experience counts for more than a graduate degree in some arenas. The following careers pay based on seniority or demonstrated on-the-job skills.
Federal law enforcement agent
The federal government features a graduated pay scale, with earnings based on experience and seniority. Federal agents typically earn their high-paid positions by moving up through the ranks in law enforcement or the military. Federal law enforcement agents work for a range of U.S. government agencies: the FBI, DEA and Department of Homeland Security agencies such as Customs and Border Patrol.
Education: Bachelor's degrees are common in federal law enforcement. In addition to providing important analytical skills, the credential confers an important advantage in this competitive job market. A bachelor's degree in criminal justice offers courses in constitutional law, criminal investigation and more.
Salary: Federal agents earn salaries in the GS-10 grade and above. With overtime, they are eligible for LEAP (law enforcement availability pay), which boosts earnings 25 percent.
- GS-10 (entry) level: $48,159; LEAP: $62,711
- GS-13: $75,414; LEAP: $94,267
- GS-15: $104,826; LEAP: $131,032
Computer and information systems analyst
If you're looking for a job that prizes demonstrated ability over credentials, look no further than the IT department. IT systems analysts develop and implement a company's information systems, ensuring that the network and data processing infrastructure supports users' needs. With experience, analysts can advance into management roles and boost their earning power.
Education: The IT field used to welcome high school prodigies without formal education. Today, competition and advancing technology have made the bachelor's degree a virtual requirement. A bachelor's degree in management information systems (MIS) or computer science offers the necessary technical training to get started in a systems analyst career. From here, advancement is up to you.
Salary:
- Systems analyst: $75,890
- Systems manager: $100,110
There's more than one route into a high-paying job. Graduate degrees may speed your career advancement, but most fields reward demonstrated skills, experience and performance. A college degree can set you up for success on the job. But ultimately, what counts is your performance once you get there.
