Last, but not least, factor in 20-year projected salaries for undergrad business majors. According to PayScale, Berkeley grads can expect to earn $138,300 by the midpoint of their careers. Forty-nine spots below Berkeley, Brigham Young business majors are projected to make $96,700 annually. Tied for No. 99 are the University of Georgia and SUNY Binghamton, with estimated annual earnings of $90,500 after 20 years.
Even if the data in Greenwood Hall’s survey reflects reality, business majors will likely weather economic trends better than most.
SURVEY RESULTS CONTRADICT FACTS
As Bloomberg Businessweek pointed out this week, a college degree, business or otherwise, is still a safe and solid investment. Citing Pew Research Center data, Bloomberg Businessweek notes that college graduates earned $17,500 more than high school graduates in 2013. Rick Fry, a Pew economist, also tells the magazine that college graduates make $500,000 or more over their lifetimes than those with only a high school diploma.
Aside from bringing lower compensation, not pursuing a college degree makes employees more susceptible to unemployment and poverty, Fry adds. He also tells Bloomberg Businessweek that such people are far less likely to enjoy benefits like retirement plans, pensions, or union representation.
Paying off debt can be a long and costly process. Over time, as salaries rise and debt drops, it pays more and more to have a bachelor’s degree. It just may not pay off as fast as people hope.
DON’T MISS: THE ROI ON A COLLEGE BUSINESS MAJOR
Questions about this article? Email us or leave a comment below.