The expense of not having a degree
A college degree is expensive. But not having one could also prove expensive, by holding workers back from promotions and salary increases.
A survey of 275 human resource executives at a firm with 500 or more workers recently conducted by Academic Partnerships, an association for public universities’ online education programs, found that only half of employees hold a bachelor’s degree.
But 86 percent of the HR executives said an advanced degree would increase a worker’s likelihood of getting promoted.
Academic Partnerships is pushing the message that workers may find that both the cost of pursuing a degree and the time it takes to head to class after a day of work could be significantly cut if they investigate online degree programs, with their company paying all or some of the tuition.
Another survey conducted by the Society for Human Resource Management also found that 61 percent of firms offer some type of tuition assistance – for either online programs or traditional classroom instruction.
The value of tuition assistance up to $5,250 per year is not counted as taxable income, reports the SHRM, and firms that provide this assistance must make tuition assistance available to all employees.
Another 2010 SHRM survey found that one-third of firms reported that job candidates who had a degree from online classes were viewed as favorably as applicants with a traditional degree.
Employees should check with their human resources or training departments to see if their company offers tuition help, and to see what the criteria are for reimbursements.
© CTW Features
The AP survey found that most firms evaluate online degree programs for the course content’s value to the business, the price of the program, and the reputation of the school.