Are college degrees necessary?

Henry McKeand
Staff Writer

New research shows that many college graduates are underemployed and that the job demand for college graduates is leveling off.  In fact, the demand for non-college level jobs is increasing at a higher rate than college level jobs.  In a time when many people feel that having a college education after high school is essential to getting a job, this is a surprising trend.

Underemployment is when someone with a college degree is working at a job that doesn’t require one.  Underemployment rates have risen since the early 2000’s and are at 46% this year.  According to the Federal Reserve Bank of New York, this trend could continue into the future. 

This information doesn’t mean that college isn’t worth the investment.  Even though the demand for workers with college educations has lowered, the unemployment rate of college graduates has actually gone down since 2011.  Having a higher education can greatly help you in the job market.  Research shows that a bachelor’s degree has an average worth of $275,000, which is nearly as high as it has ever been. 

So why are college grads having problems finding jobs that are appropriate for their degree?  Well, for one, not every college degree is viable in the job market.  Students who graduate with a degree in a STEM (science, technology, engineering, and math) class have a better chance at quickly finding appropriate work.  STEM employees earn an average of 25% more than non-STEM employees and have a lower rate of unemployment.  Some majors, such as animal science and social work, are very low paying and don’t have as much application in the job market as other majors.  This isn’t to say that students shouldn’t pursue the major that suits them, but there are some subjects that don’t have much real world application. On top of this, many people who graduate from college still have jobs in the service industry, which are traditionally lower paying.  Many college grads work in respectable positions that are technically classified as non-college jobs, such as dental hygienists and web developers.  The chart below represents the top five and bottom five majors according to College Factual.                               

                    

Top 5 Paying Majors	Bottom 5 Paying Majors
1.Petroleum Engineering ($89,000)	1.Animal Science ($31,100)
2.Computer Science ($53,800)	2.Social Work ($32,200)
3.Nursing ($53,300)	3.Child Development and Psychology ($32,300)
4.Applied Mathematics ($52,200)	4.Theological and Ministerial Studies ($32,500)
5.Physics ($50,800)	5. Human Development, Family Studies, and Related Services ($32,700)