How to Boost Your Earning Power in a Recession

How to Boost Your Earning Power in a Recession

While some people see the current economic recession as a time of worry, a small but growing group is actually taking advantage of current conditions to boost their long term earnings power.

These people are using the slowdown and the resulting changes in government and corporate priorities to ensure that they are better positioned than the competition to get and keep the best jobs in the coming years.

And they are doing it by getting an online degree.

Experts have long known that the higher the level of your degree the more you will earn throughout your life. In fact, compared to a high school degree, an employee with:

an associate degree will earn an average of $5,600 more per year
a bachelor's degree will earn an average of $21,100 more per year
a master's degrees will earn an average of $33,900 more per year

Why now?

What is it about our current economic climate that makes the right degree so much more important and, above all, achievable:

Firstly, the recession has made companies' future profits very uncertain. As a result they are being far more selective in whom they hire. Today, having a relevant degree on your resume often means the difference between being considered for a position and being passed over completely.

Secondly, the economy is changing. Traditional industries are fading, while new industries such as health care, information services, and homeland security are growing. These generally pay well, but require workers with specific technical skills. These skills are typically not learned in standard 4 year degrees, but can easily be obtained through shorter associate degrees in specific vocational fields.

Thirdly, the rapid expansion of high speed Internet has made it possible for universities to offer online degrees that are highly respected by employers. This makes it far easier for people that are currently employed, or have family responsibilities to obtain their degree.

Lastly, as a result of the recession, the government has stepped in to help subsidize individuals' efforts to return to school to get better trained - and these subsidies are available for online education degrees as well.

Where to start?

If you're interested in maximizing your value to employers and your earnings power, the first thing to do is identify the best degree based on your preferences, job experience, and education. Next, determine which schools offer the right courses. Then investigate financing options that can help pay for all or some of the degree.

Fortunately, there are some great free online services that will quickly help you navigate through available options and find the programs that are exactly right for you.

One of the best is a service called BuildACareer.net. They work with dozens of universities offering associate, bachelor's and master's degrees along with financial aid.

If you want to be one of those people that comes out of this recession in a stronger position, BuildACareer.net may be the place to start.


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