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7.4 Education and Career

Last updated 12 months ago
8 questions

Education Saves Jobs


The unemployment rate rose drastically in April 2020. Not only does pursuing higher education tend to correlate with higher earnings over time, but data shows a correlation with higher job security, especially during rough economic times.

View the Ed Puzzle and answer the questions.


Unemployment by Educational Attainment

View this infographic showing the relationship between education level and unemployment and answers the following questions.

Shaded regions indicate periods when the economy was in recession, a period of time when the economy is contracting instead of growing.


Required
10

Does a worker's level of education become MORE or LESS important during an economic
slowdown (recession)?

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10
During what periods is the gap in unemployment between the least educated and most educated the widest?_______

the narrowest?_______
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10

Your friend tells you that some college is better than none. Based on the chart above, how much do employers seem to value workers with "some college?"

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10

This chart measures unemployment rate for various educational levels. What do you think this chart would look like if you were comparing average salaries to educational levels?

RESEARCH: Salaries by Major


Many students pick a major, or area of study, in college based on what they are passionate about studying, future career possibilities, and what classes they would like to take. But what some students may not consider is how the major they choose can result in wildly different future salaries.
Considering your salary is an important step to making sure you will be able to meet your needs (including making your monthly student loan payments!). In this activity, you will research the average salaries of a few majors you are thinking of studying in college. Then, you will answer reflection questions based on what you found.

PART I: Majors to Study


If you cannot find a specific major, find one that is most similar to it and note its salary. Be sure to change the major name in the table as well.
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50

  1. In the table below, list at least three majors you are interested in studying in college. Try to be as specific as possible.
(Example: Instead of “Business”, which can include a variety of majors, you can narrow it down to “Accounting”.)
  1. In the second column, summarize why you are interested in studying this major in college.
  2. Go to Georgetown University’s Center on Education and the Workforce website and select the group your major best fits into.
  3. Find your major and note the median salary with a Bachelor’s Degree for that major in the table below.
  • Note: To get the salary, click on or hover over the gray circle in the middle of the top, orange bar for your major.

PART II: Reflection

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10

Were you surprised by the median salaries for any of the majors you listed? Why or why not?

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10

Your friend Alice finds that the median salary for one of the majors she looked at is $69,000. Can she assume that this is the salary she will receive post-graduation if she studies that major? Why or why not?

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10

While salary is definitely an important factor to consider when selecting a major to study, it certainly isn’t the only thing you should take into account. What advice would you give to someone who chooses their major based only on salary? Why would you give this advice?