The demand for a university degree in the job market has been increasing steadily since the early 1970’s. This is a direct response to a shift in Canada’s labour market. Today, the fastest growing occupations are in the service sector, which grew from 6 million jobs in 1975 to more than 13 million today. Applicants who do not have any university training are rarely considered for professional and management positions. Employment for people who have not gone beyond a high school diploma is rapidly disappearing. During the 2008 – 2010 economic recession, 260,000 jobs for those without a university degree were eliminated. During this same time 280,000 new jobs were created for university graduates.
A Bachelor’s degree provides students with the critical thinking, research and writing skills that today’s employers demand. Many post-secondary institutions are also providing their students with on-the-job training, giving them another advantage over those with only a high school diploma. A university degree has become a necessary requirement for most entry-level professional and management positions. Recent census data confirms that income will increase more rapidly and consistently for a university diploma holder.
A problem facing university students today is whether or not one degree is enough to secure desirable employment. A Bachelor’s degree provides students with an educational foundation they can build on, whereas a Master’s degree or PhD provides specialized knowledge in one area. Additional degrees become important when employees want to advance up the corporate latter. More degrees often mean better wages. According to the 2008 starting salary index, an elementary school teacher with a Bachelor’s degree can expect to earn an average of $33,242 annually compared to $43,997 for those with a Master’s degree. An engineer with a Bachelor’s degree can expect to earn $54,181 compared to $69,752 for engineers with a Master’s degree.
Employment for those with only a high school diploma is very hard to come by, especially in this economy where people apply for and accept positions even if they are over-qualified. However, students who cannot or do not want to attend university should not be concerned because they have other options. Many institutions offer certificates in marketing, computer programing, trades and much more. University is not the right fit for everyone. It is important that students are made aware of all their options before they select a post-secondary path.
http://www.aucc.ca/publications/auccpubs/value-of-a-degree/in-canadas-labour-market_e.html
