Going back to college after you’re out of your twenties can be intimidating. After all, you probably feel like you’ve already spent thirty years in the workforce! But don’t write it off just yet. Here are six reasons women should consider going back to college for business.
#1 Educated women are more likely to earn six-figure salaries
Is making six figures a year a dream of yours? It’s not just a dream- it’s a reality for many successful women. In fact, according to Forbes, “women earning over $100,000 outnumber men in every age group except for those aged 65 and older.”
Why is this? There are a number of factors at play, but one of the most important is having a college degree. In general, the more education you have, the more money you’re likely to make.
And business degrees are no exception- in fact, they often lead to even higher salaries than other majors. If you’re looking to make more money and achieve greater success in your career, then it might be time to consider going back to college for business.
#2 Women with college degrees are more likely to be employed
As of 2010, there were more women in the workforce than men. Here’s why- while only about one-third of all Americans (both male and female) have a four-year degree, nearly half of all women over the age of 25 hold a college degree.
Since businesses understand that college graduates are more likely to be employed, they offer them higher salaries for their services. Many companies also prefer hiring employees with at least an associate’s degree. For example, there are dozens of job postings for Secretary IIs- but only one of them requires a bachelor’s degree.
And according to the Bureau of Labor Statistics, the median salary for secretaries with associate degrees is $19,680- $40,000 more than if they just had a high school diploma. That’s four thousand dollars you could be earning!
If employers prefer college graduates and reward them with higher salaries, consider going back to school for business. If you’re worried about how you will afford it, consider applying for scholarships for women, such as the Nancy Etz scholarship.
#3 There is a shortage of female executives in the workforce
If you’re looking to climb the corporate ladder and take on more responsibility as an executive or manager, then there may be a shortage of women in your field who are qualified to do so. There’s certainly no shortage of women in the workforce, but there are fewer female bosses than their male counterparts when it comes to reaching top positions.
Why is this? Many factors contribute to this, including “old boys’ networks” that can help men get ahead when they don’t have the right qualifications. But if you’re hoping to be the next woman who reaches the top, then you need to pursue more education.
#4 College graduates can make up for lost wages later on in life by investing wisely
One of the most important (and often overlooked) benefits of going back to college is the ability to invest. If you go back for business, you can save money and earn more at once! Companies often offer 401K retirement plans that will give you a percentage of your salary invested back into the company.
Plus, if you’re lucky enough to receive a raise after getting a college degree, that money will be compounded and grow even more over time! So how much can you make by investing wisely? It depends on many factors, but if you start when you’re 25 and earn a 7% return on your investment, you could have over $1 million saved by the time you reach retirement age.
That’s more than enough to cover any college costs you may have incurred! Therefore, if you’re looking for a way to make up for lost wages or scholarships that didn’t cover all of your expenses, consider going back to college for business.
#5 The average woman will spend 30 years of her life working, so she might as well invest it wisely
The average American spends over 50% of their life at work in general. If you add up all of the hours that most people spend on the job throughout their life, it comes out to be about 30 years. That’s a long time! So why not make the most of those years by investing in your future? Getting a college degree is one of the best ways to ensure that you can get ahead in your career and make more money.
#6 Female business owners make $250,000 more than their male counterparts throughout their careers
According to a study by the National Association of Women Business Owners (NAWBO), female entrepreneurs earn an average of $250,000 more than their male counterparts over the course of their careers.
This is likely due to the fact that women are often better at multitasking and networking, which are both essential skills for business owners. So if you’re looking to start your own business, a college degree in business is a great way to give yourself an edge over the competition.
There you have it- six reasons why you should consider going back to school for business! Whether you want to earn more money or be your boss, a college degree is the way to go.