The college education job market is still a work in progress, but a few factors may be helping to create a good-paying job: College graduates have more education than the average citizen, and those with degrees are more likely to hold on to them, according to a new report from CareerCast.
While there are a number of factors that help determine whether or not you can afford a bachelor degree, the number one factor is whether or for how long you have a job.
While the job market for college graduates has been steadily improving in recent years, the numbers on employment for this type of bachelor’s diploma are still relatively low.
According to CareerCast, more than 9 million bachelor’s degrees were awarded in 2016.
The average college graduate with a bachelor of science degree was earning an average of $47,600 in annual salary, while those with bachelor’s in social work earned an average salary of $58,600.
The lowest-paid bachelor’s students were in education, where the median annual wage for a bachelor was $35,700, and for a master’s degree, it was $50,400.
For a bachelor in accounting, the median yearly wage was $47 a week, while the average salary for the master’s was $54,000.
College graduates also make up the most of the work force.
About one-third of the workforce was born after 1990, with more than a third of graduates between the ages of 25 and 34 holding a job in the industry in 2015.
A similar percentage of those between 25 and 39 were employed in a career related field.
College students have also been finding it easier to find jobs than those in the private sector.
According the Bureau of Labor Statistics, in 2015, college graduates held 2.5 jobs per 100 college students, while private high school graduates held 3.2 jobs per college student.
The unemployment rate for graduates in that group was 9.3 percent, and the rate for the general population was 4.2 percent.
College grads have also proven to be more motivated than the general public.
A 2014 study by the American Association of University Women found that more than half of college graduates reported they would do a job for which they were qualified, and about four in 10 college graduates were able to find a job within a year.
Another study found that 60 percent of graduates with bachelor degrees had taken a job at least once in their career.
The number of jobs available in the education field has also been growing, with the number of job openings increased by more than 50 percent in the last year.
The number of positions in the field of education increased by 7.3 million from 2016 to 2017, with an increase of 16.4 percent from the same period in 2016, according the Bureau, though the increase in job openings was lower than expected.