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Why Go Back to College When the Economy's Booming?

Man and woman shaking handsUnemployment is down. Wages are up. Why should I get a degree?

Many things are going right for the economy right now, and the labor market is at the forefront. The U.S. has added some 19 million jobs in the last eight years and the unemployment rate could soon drop to levels not seen since the 1960s (source). That all boils down to record job openings and aggressive hiring, which is great news for motivated people looking to further their career.

Here are four noteworthy reasons why you need that degree now more than ever:

1. Make yourself recession proof.

It’s always better to be prepared and have an ace in the hole. Prime the pump before you need the water; don’t let today’s rosy economy make you complacent. If you’ve been in the workforce for some time, you’ll remember what it was like when the economy was struggling. It’s more difficult to find a job without a degree, and there’s added value for a company to keep a college graduate when dealing with layoffs. So, hedge your bets and prepare yourself to weather future storms.

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2. Move farther, faster in your career.

Those with enhanced skills can go farther, faster within an organization. If you have a master’s degree, your specialized knowledge will stand out to potential employers. You can offer a highly qualified skill set which will afford you a greater opportunity in a strong or in a weak economy.

3. Increase your earning potential.

By holding a degree, you set yourself up to negotiate a higher salary. When applying for new jobs, leverage your education and skills. If you’re already set in an organization you enjoy, your new degree will give you a leg up for promotions and pay raises.

4. College grads say it’s worth it.

Whether you’re looking to challenge yourself intellectually or grow personally and professionally, you’re going to check those boxes and more. An overwhelming majority of college graduates say that college has been a great investment for them personally, according to a Pew Research Study.

Are you in a position to get your piece of the growing economic pie? If you're ready to follow your dreams, SNU is here to turn your financial hopes into your financial reality.

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