What College Degree Should I Pursue?

The Money Challenge for Teens was written to help teenagers develop solid, biblical stewardship behaviors and to avoid the common financial mistakes many young adults make. This is an excerpt from the book. 

Sometimes, students enter college without knowing what degree they should pursue. They want a college education, and they want a degree. But that’s about all they know.

The degree you choose will play a big role in your education’s ROI. If you get a degree in underwater basket weaving, you likely will have difficulty finding a job, at least in that area. Is underwater basket weaving difficult? I’ve never tried it, but I am sure it has its challenges. But that doesn’t mean that your future employer needs you to have that amazing knowledge and skill.

How do you choose a degree that will increase your chances of a good ROI? These three questions can help you choose the right degree.

Question #1: What am I passionate about?

What gets you out of bed each morning (besides the alarm)? What are you obsessed with? This is a really good place to start when considering a degree. The reason?

Motivation.

You need to be motivated to finish the degree. You need to be motivated to work in that field after your debt-free graduation. And you will enjoy your courses on your way to getting that degree. So, to start, figure out what you are passionate about.

Question #2: What do others say I do well?

This is your performance. In seventh grade, I was passionate about basketball. I figured that I was good enough to, one day, play in college. But then, I didn’t even make the middle school basketball team. It’s really tough to make a college team if you can't make your own middle school team. I learned pretty quickly that being passionate about something doesn’t mean that you are actually good at that thing.

You may like football, but that doesn’t mean you will play in the NFL. You may love music, but that doesn’t mean you can sing on pitch. It is important to know what you think you do well, but it is more important to know what others think you do well. There’s less bias involved.

Try to think about what your parents, friends, and teachers have told you that you’re good at. If you can’t remember anything, ask them. Simply ask, “What do you think are my best skills?” And take their answers seriously.

Look, this doesn’t mean that you cannot get a degree or work in an area that you are passionate about. There are plenty of other jobs related to the NFL and music that don’t require you to be a star football player or an amazing singer. So, don’t get discouraged. Identify your performance, what others say you do well.

Question #3: What will somebody pay me to do?

This is a part that many college student forget about when choosing a degree. You can be passionate and skilled at something and still not get paid. Hello, underwater basket weaving!

As you look at the different degrees that are out there, explore what you can actually do with them. Figure out if the number of jobs in specific areas is growing or shrinking. Sometimes, you can find it through a simple internet search.

The key is to make sure that there are job opportunities on the other side of the degree. You are paying a lot of money for that degree. Make sure that it pays you after you graduate. Identify your pay.

What degree do you go after? Chase after the degree where passion, performance, and pay all meet. This is your best shot at getting a good ROI on the time and money you spend on your education.

College is not just a time to get away for a few years. It is not just a time to have a good experience, though I hope you do. It is a time to get an education that can help you achieve your career goals. Identify your passion, performance, and pay so that you can choose a degree that increases your chance at getting a solid ROI.