How Earning an Undergraduate Degree Impacts Adult Careers and Income
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Hobsons and UPCEA partnered on a groundbreaking study one year ago to measure motivation and impact of degree completion. This year, analysis of the multi-year study revealed differences in motivation, career goals, and outcomes by major and demographic characteristics. Learn more about: www.hobsons.com
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How Earning an Undergraduate Degree Impacts Adult Careers and Income
- 2. ObjectiveandMethodology UPCEAâs Center for Research and Consulting (CRC), in partnership with Hobsons, has conducted multi-year studies on adult student gains and satisfaction after earning a bachelorâs degree from a U.S. college or university. The objective of the research has been to measure how the undergraduate degree has impacted adult learnersâ careers and personal lives. The data represents only degree completers. Between the two most recent studies, a total of 1,706 individuals were surveyed In 2013, a benchmark study surveyed 988 adults interested in completing or starting a bachelorâs degree but had not or could not due to a variety of factors.
- 3. KeyFindings Summary:Fall2013Study Salaries increase, especially after four years of having earned the degree. Smaller but more frequent raises are often hurdles to those considering a degree. Financial aid and student support/advising were reported as being the most used campus services. Greater job security, especially after four years of receiving the degree Increase in likelihood to receive a promotion or have a career change Improved confidence and job security (without necessarily having to change jobs) More analysis needed on impact of degree type and other demographics
- 5. Whatyeardidyougraduate? Aboutthree-quarterofrespondents(77%)had graduatedinthelastďŹveyears;70%wereunder45. Whatagebracketareyouin? StudyDemographics:AgeandGraduationYear 2012 - 17% 35 to 44 - 23% 2013 - 18% 45 to 54 - 20% 2014 - 11% 55 to 64 - 9%Before 2008 - 6% 60 or Over - 1% 2008 - 7% 2009 - 10% 25 to 34 - 47% 2010 - 16% 2011 - 15%
- 6. TypeofMajor StudyDemographics:Major Business - 24% Liberal Arts - 20% Communication and Technology - 12% Social Sciences - 10% Nursing - 9% Health - 6% Science - 6% Education - 5% Arts and Architecture -3% Engineering - 3% Other - 2%
- 7. Engineering was dominated by the 25- to 34-year-old age bracket and had the youngest distribution of graduates. Science degree holders were the second youngest group. There is a trend towards younger students in STEM fields while older students tended more towards business and communication. AgeGroupsbyTypeofMajor Business Comm and Tech Liberal Arts Social Sciences Nursing Health Science Education Arts and Architecture Engineering 0% 36% 40% 43% 43% 50% 50% 62% 66% 66% 81% 29% 10% 22% 9% 23% 9% 17% 15% 23% 5% 18% 8% 12% 7% 9% 9% 11% 4% 4% 26% 28% 25% 23% 21% 22% 19% 15% 19% 13% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 25-34 35-44 45-54 55-64 64+
- 8. Somewhat satisfied - 20% Not very satisfied - 4% Not at all satisfied - 1% Extremely satisfied - 39% Very satisfied - 36% Seventy-five percent of respondents were extremely or very satisfied with their degrees. Overall, people viewed their degree with satisfaction and only 5% of respondents were not very or not at all satisfied with their degrees. DegreeSatisfaction
- 9. Nursing Engineering Business Social Sciences Comm and Tech Health Arts and Architecture Education Liberal Arts Science 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Nurses were by far the most positive about their degree with 58% saying they were extremely satisfied. Satisfaction levels of at least somewhat satisfied were similar across all majors and dissatisfaction was commonly under 10%. SatisfactionbyTypeofMajor 58% 37% 39% 43% 37% 40% 37% 37% 29% 21% 33% 7% 16% 19% 17% 5% 17% 7% 21% 4% 21% 5% 22% 4% 34% 4% 30% 7% 5% 47% 38% 33% 38% 35% 36% 35% 34% 37% Extremely satisfied - 39% Very satisfied - 36% Somewhat satisfied - 20% Not very satisfied - 4% Not at all satisfied - 1%
- 10. People go to college most commonly to advance in their careers. The type of major they choose is important and results in more promotions and raises. Degrees in engineering and nursing are the most powerful in the workplace, gaining recipients the most career advancements. LifeAftertheDegree
- 11. People meet their goals for going to college, as their careers changed after earning their degree. When they wanted to earn more money, the most common outcome was receiving a raise for the same position. When they wanted to advance their career, they were promoted within the same organization or obtained a better job at a different organization. ReasonsforCollegeandOutcomes Career Outcome More Money Been promoted within the same organization Received a raise for the same position Obtained a better job at a different organization Changed fields or careers Career Advancement Personal Accomplishment Developing Marketable Skills Motivation for Degree 28% 39% 33% 42% 42% 43% 28% 20% 31% 43% 46% 41% 29% 38% 27% 23%
- 12. Career advancement was the most influential reason for going back to college across all majors. Students who entered engineering saw it as a way to earn more money. Students in the arts and architecture, science and liberal arts saw their degrees as a way to increase their marketable skills as well as a personal accomplishment. WhyAdultsGoBacktoCollege Business Comm and Tech Social Sciences Nursing Health Science Education Arts and Architecture Engineering 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 34% 33% 11%23% 41% 31% 7%29% 41% 19% 9%31% 51% 16% 18%15% 56% 17% 7%20% 60% 16% 8%16% 60% 11% 15%15% 65% 7% 21%7% 67% 11% 11%12% Career Advancement Personal Accomplishment Developing Marketable Skills More Money
- 13. Engineering, communication and technology, business, and nursing were the top degrees to earn a promotion within the same organization. Receiving a raise for the same position was most common for engineering, nursing, business and science. Obtaining a better job at a different organization and changing fields or career were most commonly seen in education, arts and architecture, liberal arts and social sciences. CareerAdvancementsbyTypeofMajor Career Outcome Degree Received Engineer Been promoted within the same organization Received a raise for the same position Obtained a better job at a different organization Changed fields or careers 55% 84% 34% 18% Comm. and Tech 47% 44% 50% 27% Business 45% 54% 40% 35% Nursing 42% 62% 40% 9% Social Sciences 36% 34% 41% 59% Science 35% 43% 38% 38% Liberal Arts 34% 28% 41% 42% Health 30% 41% 48% 33% Arts and Arch. 25% 35% 63% 38% Education 19% 40% 49% 48%
- 14. Been promoted within the same organization 29% 39% 42% 48% Promotions or changing organizations to receive a better job increased, as is expected, as experience increased. Receiving a raise for the same position leveled off after 5-6 years of experience, most likely due to seeing a promotion after that time. Changing fields decreased after 3-4 years, probably due to people settling into their field. WorkExperienceEffectsonCareers 1-2 years experience 3-4 years experience 5-6 years experience 7+ years experience Obtained a better job at a different organization 37% 39% 47% 51% 1-2 years experience 3-4 years experience 5-6 years experience 7+ years experience Received a raise for the same position 29% 39% 57% 57% 1-2 years experience 3-4 years experience 5-6 years experience 7+ years experience Changed Fields or Careers 30% 39% 36% 36% 1-2 years experience 3-4 years experience 5-6 years experience 7+ years experience
- 15. 0% 100% Been promoted within the same organization Engineers and nurses had more stable and better returns for promotions within the same organization and receiving a raise for the same position than arts and architecture and social sciences. They tended to stay with the same organization for at least four years more. They also changed fields or careers at a much lower rate for at least six years Engineering ChoiceofMajorImpactsCareer 1-2 years experience 3-4 years experience 5-6 years experience 7+ years experience 0% 100% Received a raise for the same position 1-2 years experience 3-4 years experience 5-6 years experience 7+ years experience 0% 100% Obtained a better job at a different organization 1-2 years experience 3-4 years experience 5-6 years experience 7+ years experience 0% 100% Changed Fields or Careers 1-2 years experience 3-4 years experience 5-6 years experience 7+ years experience Nursing Arts and Arch. Social Sciences
- 16. On a scale from 1 to 10, where â1â is nowhere near your goals and â10â is on track with your career goals, how would you rate where you are (a) before you enrolled in your degree-granting institution, (b) immediately after earning your undergraduate degree? CareerProgressWithinTypesofMajors Did Not Progress Science Social Sciences Business Comm. and Tech. Engineering Below Average Progression Average Progression Above Average Progression 18% 13% 8% 12% 18% 63% 6% 5% 16% 73% 2% 4% 15% 78% 9% 17% 57% 11% 17% 59% 0% 100% 80% 60% 40% 20%
- 17. 0% 100% Business Under $50,000 MoneyDeďŹnesSuccess Did Not Progress Below Average Progression Average Progression Above Average Progression Did Not Progress Below Average Progression Average Progression Above Average Progression Did Not Progress Below Average Progression Average Progression Above Average Progression Did Not Progress Below Average Progression Average Progression Above Average Progression 0% 100% Communication and Technology 0% 100% Nursing 0% 100% Social Science $50,001 to $100,000 $100,001 to $150,000 Over $150,000
- 18. Howhasyourpersonalincomechanged? Increased ImpactofMajoronPersonalIncome Decreased Stayed About the Same Income by Type of Major Engineering Education Nursing Business Arts and Architecture Comm and Tech Social Science Health Liberal Arts Science Other 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 55% 35% 10%
- 19. Running a linear regression, there was a $1,067 increase in personal income for every point gained for average progression. PersonalIncomeIncreasesbyTypeofMajor Engineering Education Nursing Business Arts and Architecture Comm and Tech Social Science Health Liberal Arts Science Higher numbers indicate more satisfaction with career progress Average increase in annual personal income after receiving the degree ($)Major $0 $12,500 $25,000 $37,500 $50,000 $40,718 7.5 8.0 7.2 7.2 6.9 6.6 6.2 6.9 6.5 6.5 $27,038 $23,736 $20,296 $18,706 $17,907 $17,000 $16,277 $15,922 $11,453 0 1 2 3 4 5 6 7 8 9 10
- 20. Many adults earning their degrees start receiving significant raises quickly. Many are often promoted or obtain better jobs. Older adults returning to college often do not necessarily see STEM fields as a possibility for them. A younger adult may be more likely to consider a degree in engineering, science or arts and architecture. Most are very or extremely satisfied, but those who seek out degrees in nursing and engineering are more satisfied. They appear to be more directed in terms of the career they want and the advancement possibilities their degree offers. Recapof2014/2015Study Engineers are more likely to earn a raise, as are those in business or nursing. Nurses and engineers are also more likely to believe that they are in their career jobs. Those earning a degree in health rather than nursing, social sciences or education are more likely to change fields, careers or employers.
- 21. ActionsforAllMajors Market the fact that raises and promotions are common within 5-6 years after completing degree Opportunity for colleges to review degree audits of adult learners who may have stopped out â communicate value of degree to those students who are close to completing a degree
- 22. ActionsforSpeciďŹcMajors For Nursing: market advancement opportunities For Engineering: market career opportunities and salary For Education, Social Science, and *Health: - Market opportunity to change fields, careers, or employers - Emphasize the value of these professions - Identify additional career opportunities â specifically higher-paying positions *Excludes Nursing
- 23. OtherActions When recruiting older students to STEM fields: â Clarify requirements of degree â Explore ways to offer courses that support a working adult schedule â Bust myths about STEM skills being âfixedâ â Promote growth mindset instead â Clarify benefits of STEM degrees and the types of careers that can result from such degrees When recruiting students interested in career change: â Collect feedback from employers on relevant job skills â Explore partnerships with employers to improve the skills of their current workforce (emphasize tuition reimbursement programs)