Becoming a leader in business is partly about your experience in the workplace, but it has been proven that even more than experience, education is the beneficial factor in determining your future in business management.
According to Investopedia, education is not only important for skilled workers but for the economical success of the country as a whole. A country that is governed by and employs trained and educated workers has a better chance to achieve success. It is seen that workers that are well-trained are more productive and therefore earn more than workers who have lower levels of training.
Therefore what do these benefits relay to the average worker? Well, statistics have proven that workers who have higher levels of education earn more because they are more valued as an employee. Employers prefer to hire workers who they don’t have to take a lot of time out to train, workers have an increasing amount of knowledge about the job, the industry and their role – and this mostly comes from education.
Research by Greenstone and Looney in 2011 of the Brookings Institution’s Hamilton Project revealed that benefits of a degree is equivalent to an investment that returns 15,2% annually. Also there is a difference of 65% earning power between employees with graduate degrees and those who simply have high school diplomas. The gap between the two education groups grow with higher levels of degrees and with age.
In the US it is also believes that higher education improves your chances of being employed, the unemployment rate for those with four or more years of college education is drastically lower than those with simply a high school education.
TopUniversities coined the phrase “the more you learn, the more you earn” and this is true and especially reassuring when you are shelling out money in order to pay for your education. The evidence clearly points to the fact that higher education pays off in regards to your salary and your professional life in general.