3 Interesting Facts to Consider When Choosing a College

by | Sep 28, 2020 | Wealth Management

This time of year, it is important for high school Seniors (and Juniors) to consider their plans after high school. The FAFSA process begins on October 1st and check out our recent blog post for more information. Below are some things to consider whether to go to college or not as well as what majors to consider.

  • Below are jobs considered the best to have for the future:
JobGrowth Rate
Median Annual Salary
Physician Assistant35.3%$104,986
Nurse Practitioner35.2%$103,947
App Developer30.4%$100,857
Information Security Analyst27.2%$95,506
Physical Therapist27.1%$85,694
Marketing Research Analyst24.4%$62,828
Health Services Manager21.0%$96,517
Financial Manager19.1%$122,733
Computer Systems Manager14.4%$138,142

Source: Kiplinger. https://www.kiplinger.com/slideshow/business/T012-S001-best-jobs-for-the-future-2018/index.html
*Source: Bureau of Labor Statistics 2016-26. https://www.bls.gov/careeroutlook/2017/article/occupational-projections-charts.htm#Chart%201   

  • There are high paying careers that do not require a college degree. We have several clients that are small business owners in common industries (i.e. construction, chemicals, etc.) that do very well for themselves. If college is not your thing, the best option is to learn a specific skillset whether it be a lineman (median income about $65,000) or a healthcare specialty. Here is an article that shows the top 10 jobs that make over $79,000 a year without a college degree.
  • If you are going to college an important aspect to consider is the Return on Investment (ROI) for the college you attend. This measure shows you how much you can expect to earn after college in relation to the cost for your education. Below is an interesting chart from payscale.com showing the Top 10 schools for ROI. Interesting to note some schools are specific technical schools like SUNY Maritime College and Colorado School of Mines.
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There are many things to consider when deciding on what college to attend. If you would like to learn more please listen to our upcoming webinar on education planning.

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