Comparing Degrees–4-Year College V. Trade School
A recent article on The Simple Dollar–a website aimed at helping people build a financially secure future–explored the opportunities offered to those who choose to forego a four-year college degree and start their careers with trade school. While many already working in the construction industry are aware of the money and time that can be saved by choosing a career in construction, the numbers highlighted in the article can cause sticker shock even for those who have seen them first-hand.
The article shows that, after taking into consideration the years spent in the workforce, the salary difference only puts someone holding a 4-year degree ahead by $6,000 over a lifetime of income. In addition, those who choose a career in a trade saved $94,000, on average–more than making up for the difference in lifetime income.
While there are pros and cons for both choices–a four-year college and a trade school after high school–the financial advantages of choosing a trade in construction is something worth looking at and sharing with students early on.