College Degrees vs Trade Schools: Benefits of Post-Secondary or Vocational Training
Knowledge is its own gift, but for those who are considering post-secondary schooling or vocational training, it is rarely the increased skills alone. Most likely, a higher paying job in your current field or a job change that will have you making more money in a new career is the true goal behind post-secondary and vocational training.
But is education the way to go when it comes to making more money? Absolutely! Check it out: The average income every year of someone who doesn't graduate from high school is about $13,800. Get a high school degree and that figure jumps up to $21,500. Attend just a little bit of school after high school and your annual salary will inch up a couple thousand dollars to almost $24,000. But get an associates degree in a vocational training specialty or post-secondary education and you will be bringing down almost $30,000. That's 50 percent more than you would make with a high school degree alone.
Think how that adds up: If you are 35 when you finish your post secondary education and work another 30 years until you are 65, you stand to pull in about a quarter of a million dollars more than if you held a high school degree only. If you are 25 when you graduate from your vocational degree and you work in your new field until you retire at age 65, you will make about $350,000 more over your lifetime.
And when you make more money, the benefits of post-secondary and vocational training pay off in a number of ways. Here are just a few that you can take to the bank:
- Invest in a house and stop making rental payments.
- Take a vacation with your family.
- Pay off your credit card debt.
- Save for your child's college.
- Invest in a 401K or IRA.