The Earnings Gap
Formal statistics aren't really necessary to confirm what
modern managers already know: the more highly qualified you
are, the more you earn. Nevertheless, US Census Bureau figures
show how wide the gap is between degree-holding managers and
colleagues who do not have a formal degree. Bachelor degree
holders earn, on average, 43% more than their non-graduate
peers. Master's degree holders earn a further 13%.
The Status Gap
Of course, money isn't the only measure of success. Position
and status in a company can be as important for many people.
Frequently, companies prefer to promote formally qualified
individuals as a safer bet for the future. While experience
counts for a lot, a higher degree demonstrates a level of
intellectual achievement and dedication that managers without
a degree may only claim to have. Census statistics show that
nearly 60% of executives, managers and administrators have
at least an Associate degree. In contrast, only around 25%
of individuals without a higher education reach these managerial
levels. Individuals with no formal degree (about 75%) tend
to remain at administrative support and clerical staff levels,
whatever their level of competency.
The Career Conundrum Defined
Thus, it is clear that to advance your career and increase
your earning potential, you need to gain a higher degree.
However, the combination of losing income for a significant
period, plus finding college fees, make attending a traditional
campus college unfeasible for many working managers. Family
and location commitments may also make moving to a university
town impossible.
The Solution — Learn as you Earn
Fortunately, in the 21st century, managers can have their
cake and eat it, too. With the advent of online technology,
earning a degree is no longer the onerous financial and time-consuming
burden it used to be. Anyone who has access to a PC with Internet
connectivity can complete a degree. In addition to 100% online
colleges, many respected campus schools offer online versions
of their tried and tested degrees, so valued by employers.
Completing an online degree while working means you continue
to gain on-the-job experience often lacking in new graduates
from a bricks and mortar' university. Many employers look
favorably on the dedication and initiative shown by an employee
willing to work and educate himself at the same time. If this
isn't true of your current employer, then you can be sure
that there are others who will be ready to reap the rewards
of your new qualification by giving you a position with a
better salary and a higher status.
The Methodology — Any Time, Any Place, Anywhere.
Most online degrees can be completed on any computer connected
to the Internet. If you have access to up to date equipment,
although not necessarily state of the art, then you should
have no problem. Usually, there is no requirement to attend
classes at a particular place or a particular time. You can
receive information and assignments online, at times and places
to suit you. Similar to campus-based programs most online
programs include interaction with professors and other students
and encourage information exchange. Web-based degrees programs
provide flexible and accessible learning opportunities for
thousands, maybe millions, of managers who thought that a
degree was out of their reach.
The Conclusion — What Conundrum?
An individual no longer has to choose between earning a degree
and earning an income. Learning while earning is a reality
of the new millennium and is here to stay. If you are an ambitious,
able manager but you do not hold a formal degree qualification,
you owe it to yourself to check out the multitude of online
degree learning possibilities available from respected
institutions. The only choice you have to make is when.
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