A vocational degree isn't a single, specific type of degree. Instead, it's any degree below the bachelor's level designed to prepare a student to pursue a career in a specific field. The Institute of Education Sciences reports that vocational degrees in health care fields are increasingly popular, but students can choose a wide variety of professions -- ranging from welding to paralegal studies. Graduates typically receive a certificate or a diploma, but some programs offer associate degrees.
Vocational training takes less time to complete -- ranging from a few month to a year or two, which means students can begin a career faster and spend less money on their education. The National Bureau of Economic Research reports that students who receive vocational degrees are more employable directly out of school. Because vocational training provides students with a specific skill set rather than a general education, some vocational degrees might lead to higher starting pay.
The benefits of a vocational degree taper off as students get settled into their careers. College graduates $281 more in earnings per week than students with associate degrees and $339 more than those who complete only some college, according to 2012 data from the U.S. Bureau of Labor Statistics. There is also significant variation in educational quality between schools and programs. For-profit schools frequently offer vocational degrees, and some of these schools have low graduation rates and poor training opportunities.
Choosing the right school can help ensure that your vocational degree will pay off. Check the school's online reputation, and ask about its accreditation. Sit in on classes to determine whether the program seems rigorous, and ask potential employers whether they hire students who graduate from the school you're considering. Request data on graduation and employment rates, and chat with students attending the school to see whether they're pleased with the education they're receiving.