Although a bachelor's degree is arguably one of the best ways to improve lifetime earnings, all undergraduate degrees are not equal. A B.S. degree requires more math and science classes than a Bachelor of Arts degree and is generally considered more marketable in technical industries or for prospective graduate school students than a B.A., the University of Texas at Austin's College of Natural Sciences reports. Choice in major is one of the biggest determining factors regarding future career success, Georgetown University researchers report. For instance, architecture majors often experience higher than usual unemployment because of industry declines due to economic downturn. Chemistry, engineering, agriculture or marketing majors generally experience better job placement and security, according to U.S. News and World Report.
The Bureau of Labor Statistics reports workers with a B.S. degree experience significantly less unemployment than those with less education. According to 2012 data, approximately 4.5 percent of full-time workers over the age of 25 with bachelor’s degrees experience unemployment, compared to over 8 percent of high school graduates. Those with associate degrees or some college education do have better job prospects than high school graduates, but a B.S. degree clearly improves job prospects in most cases.
The Bureau of Labor Statistics from 2012 report the average worker with a Bachelor of Science degree earns over $300 more per week than workers with only a high school diploma. Although associate degree or some college improves earning potential as well, a bachelor’s degree tends to improve earnings more significantly. Those with a master’s or doctoral degree financially benefit the most, but earning a bachelor’s degree is generally the first step to achieve the highest earnings.
Even though a B.S. degree is no guarantee of employment, it is often needed for even entry-level or unskilled jobs, CNN Money reports. According to research by Rutgers University’s John H. Heldrich Center for Workforce Development, even those with some regret about their choice in a college major or those with career dissatisfaction rarely consider the degree a waste of time. However, even if a bachelor’s degree improves earnings and employment prospects, a hefty student loan debt might make it difficult for some graduates to stay afloat financially while balancing loan repayment, income and other expenses.