Analysis: College degrees remain good investments, but universities need to foster job preparedness and creativity

On average, college graduates earn $30,000 more salary per year than
high school graduates. (Getty Images photo via The Conversation CC)

Even as more Americans believe that earning a college degree isn't worth the time and expense, research shows that college degrees still offer multiple benefits, including higher lifetime earnings and greater job security.

In her newly released book, Invent Ed, professor and global strategist, Caroline Field Levander argues that "people have lost sight of two factors that made universities great to begin with: invention and creativity," writes Amy Lieberman, an education editor, at The Conversation U.S.

Lieberman asked Levander to share her breakdown on why graduating from an American college or university still benefits degree earners throughout their lifetime. An edited version of Lieberman's Q & A with Levander is shared below.

Lieberman: How can we measure the value of a college degree?
Levander: The average high school graduate over a 40-year career earns $1.6 million, according to 2021 findings by Georgetown University. The average college graduate earns $2.8 million over this same 40-year period. That $1.2 million difference amounts to around $30,000 more salary per year.

Levander points out that U.S. college graduates tend to remain employed and replace a lost job more quickly than high school graduates. "The unemployment rate for people with a high school degree was 4.2% in 2024, according to the U.S. Bureau of Labor Statistics. By contrast, 2.5% of people with a bachelor’s degree and 2.2% of people with a master’s degree were unemployed in 2024."

Lieberman: Do any of these benefits extend beyond individual students?
Levander: Colleges and universities are major employers in their communities – and not just professors and administrators. Higher education institutions employ every trade and kind of worker.

Lieberman: Some people are questioning the value of a degree. What role can universities play in reassuring them of their relevance?
Levander: I believe universities need to teach something else [beyond job force preparation] that is equally valuable: They also need to build creative capacity and an inventive mindset into undergraduate education, as a fundamental return on the investment in education. . . . Employers report that creativity is the top job skill needed today."

Lieberman: What can faculty and students easily do to encourage creativity and innovation?
Levander: Professors can build what I call a 'growth mindset' in the classroom by focusing on success over time, rather than the quick correct answer. . . . Students could also consider committing to trying new courses in areas where they haven’t already been successful. They could approach their college experience with the idea that grades aren’t the only marker of success.