I plan on using many images in my final paper much like the ones above. Some of the other images will include employment rates immediately after graduation and two years after, student wealth before entering college and dropout rates. I chose these two images for my blog post because I felt that they wee of extra importance because they compare salaries for recent graduates between majors and those who decided to omit college and go straight into the work force. They display the benefits of a college education and how different salaries can be depending on major choice. This is an an important aspect to someone who is planning to take on debt in order to graduate because if their salary isn't increased enough, they could end up worse off than if they had not enrolled in college. In figure 1 there is a comparison of average annual earnings between different levels of education in the same field. Categorizing this by field gives a more accurate display of the benefits of a college degree because an industry would be paying all employees the same based on their performance and credentials and would keep the numbers from getting skewed. For example if we were to combine employees with a high school education to those with a bachelors education in the fields of STEM and blue collar our results would be inaccurate in showing a closer mean between the two.
The second figure in this blog post shows early career earnings and growth for different industries which is crucial to a student who must start paying off student loans the moment they graduate from college. If a student begins with a low income and slow growth rate they would not be able to pay off their loans as effectively and this would cause them to end up paying a significant amount more in interest which would cut into the profitability of the degree they have earned.
No comments:
Post a Comment