Projected Government Earnings Guide
Kyle Stone | Editor
You’ve heard that your base salary is largely determined by your education level – but did you ever wonder exactly how much education matters? If you’ve got enough smarts, it shouldn’t matter whether or not you have formal training – right?
Wrong. At least, it might not be so simple. As job scarcity continues to drive more competition to each open position, Uncle Sam is hiring more employees with strong educational backgrounds. Because employees with formal training are increasingly preferred, the relationship between compensation and education is becoming even more prominent across different sectors of the economy.
Why Degrees Matter
• Depending on industry and specialty, pay increase per degree ranges from 10% – 82%. While this percentage is an average, and not a guarantee, it is quite reassuring for those who are simply not able to make ends meet with their current salary
• Return on investment of tuition within 3 to 5 years. Today’s employees are much less likely to accumulate long-term debt, thanks to better education reimbursement and bonus pay programs.
What Is Changing?
One particularly innovative new initiative is providing tuition support in exchange for public service. I’m predicting that we’ll see a lot more initiatives like this one over the next couple of years.
The key industries which have been the major focus of the government transition all require higher levels of education.
Median Salary by Degree/Major Subject – Employer Type: Government – Federal