Despite waning trust in higher education, the tangible and intangible returns of a degree—from career earnings to life satisfaction—hold strong.

Let’s rewind the clock back to the early 2010s. The Great Recession grips the economy, Avatar is smashing box office records, and American optimism about higher education is at a peak. A whopping 86 percent of college graduates believed their education was a good investment. Even more striking, 96 percent of Democratic parents—and outdoing them, 99 percent of Republican parents—expected their children to attend college, according to studies from Gallup and Pew Research.

Today, views on higher education have shifted dramatically—only 41 percent of young adults now see a college degree as very important, a sharp drop from 74 percent a decade ago. Similarly, confidence in higher education has waned, with just about one-third of Americans holding positive views. In a striking shift from the college-oriented mindset of parents a decade earlier, nearly half of American parents now express a preference against their children enrolling in a four-year college.

Skepticism around rising tuition costs and career prospects has cast a shadow over the perceived value of a college degree. Yet a deeper look at factors like median earnings, job outlooks across disciplines, and the intangible benefits of higher education paint a more nuanced picture—one where strategic planning and perseverance during those college years can pave the way for a rewarding future professionally and personally. And at the U, the path to an enriching post-graduate life is continuously being enhanced.

President Taylor Randall HBA’90 says institutions must adapt to increase the enduring value of a degree. “The data overwhelmingly show that obtaining a degree is nearly always the most effective way to enhance your career prospects and life opportunities,” he notes. “I see our students overcoming challenges every day. Their success stories are not just statistics—they are powerful reminders of how education transforms lives and builds a brighter future. And that, fundamentally, is what we commit to nurturing here at the U.”

Against the Current

Despite declining national college enrollment, the U has bucked the trend with a 24 percent increase in first-year students since 2020, reaching record highs. What’s behind this success? It’s multifaceted. Amid widespread skepticism that a degree is no longer worth the investment, the U has proactively improved. The revamped U Career Success center, for instance, isn’t just about listing jobs—it’s a launchpad for crafting impactful careers. The U is equipping students with problem-solving skills that are in high demand in today’s labor market, says Katie Hoffman-Abby BS’84, the center’s director. “We’ve transformed our approach, partnering with hundreds of leading employers locally, regionally, and nationally who know that our graduates are well prepared,” she notes. “These types of relationships and job placements are nearly impossible to replicate outside of higher ed.”

Deciding to go to college is just the start of many important decisions, notes Hoffman-Abby. And while any major can result in a successful career, it’s important to make a plan. “We meet with thousands of students each semester, conduct job fairs, take headshots, help students find internships, offer a closet to borrow or keep interview clothes, and proactively recruit employers to hire our students,” Hoffman-Abby says. “No matter the major, you need to make a career plan. That’s where we come in. We’re here to help make one that fits each student.” 

And efforts are paying off. The U boasts the highest median earnings for grads of any public institution in the state at $64,000. Hoffman-Abby stresses, “Our motto, ‘early and often,’ underpins our strategy. Engage with us, and together, we’ll pave your path to success.”

Debunking the ‘Degree to Nowhere’

It’s true that starting salaries can differ across disciplines, but a close look at long-term trends reveals a complex and encouraging picture. Students who graduate in STEM fields often have higher earnings right out of school than, say, humanities majors, notes Cameron Vakilian BA’11, director of advising, outreach, and experiential learning for the College of Humanities. But that changes over time. In fact, by age 40, the average earnings of people who majored in fields like social science or history have caught up to their STEM and business counterparts, according to the Census Bureau’s American Community Survey. 

“There is no one-size-fits-all approach to selecting a major,” says Vakilian. “The world needs engineers, scientists, and mathematicians. But we also need English majors who can articulate complex ideas and foster understanding, and communication majors who can bridge gaps and inspire change.”

As the job market evolves with new fields like artificial intelligence, having a mix of different academic backgrounds is crucial, notes Vakilian. To keep an eye on emerging market demands, Utah state agencies track which majors employers need most. Notably, more than 80 percent of degrees from the U are in these critical areas, including 55 percent of all STEM degrees from public universities statewide.

The True Cost of Education

The sticker price of college is just a starting point. At the U, students are paying less on average now—$5,236 in 2023, compared to $5,337 in 2020—thanks to financial aid and scholarships. Since 2020, despite a slight tuition increase, the inflation-adjusted cost has dropped by 17 percent, and Utah leads the nation with the lowest average student debt. Moreover, Utahns with college degrees generally earn an extra $20,000 annually over those with only a high school diploma.

There are decent-paying jobs that don’t require a degree; plumbers, for instance, earn about $60,000 annually. However, the Bureau of Labor Statistics projects fewer than 10,000 new plumbing jobs by 2031. Conversely, the most rapidly expanding job sectors for those with just a high school diploma—like home health aides and food service workers—typically offer wages that top out around $31,000 a year.

“The rewards are clear—college graduates see a substantial income boost, lower rates of poverty and unemployment, and greater confidence about the future,” points out Andrea Thomas Brandley MPP’20, a senior education analyst at the Kem C. Gardner Policy Institute. Beyond the financial gains, her research uncovers another compelling reality: degree holders experience much higher measures of personal well-being. College graduates not only enjoy better economic outcomes but also report significantly higher levels of happiness, health, and optimism about their futures compared to those without degrees. 

Meanwhile, the demand for college-educated talent continues to climb, rapidly outpacing the supply and further boosting the college wage premium. According to global consulting firm Korn Ferry, there could be a shortfall of up to 6.5 million degree-holding workers by the end of the decade, heralding a looming crisis in workforce readiness and economic stability.

“The value of a university degree extends beyond personal benefit—it is a key pillar of our national economy,” says Randall. “Education is more than a path to a better job. It’s an indispensable asset that prepares individuals not only to contribute but to lead in an increasingly complex world.”

As college campuses empty each spring, the graduating students face a daunting reality: the job market they’re entering often requires a résumé already dotted with experience. It’s the perennial catch-22—jobs require experience, but experience comes from jobs. How can recent graduates navigate this dilemma?

Most colleges help students get some professional exposure, but the Goff Strategic Leadership Center at the U goes a step beyond. It offers specialized classes where students engage directly with organizations. “These opportunities often represent students’ first real foray into the professional world, providing résumé-building experiences under the guidance of expert faculty,” explains Ruchi Watson, managing director and CEO of the center and strategic advisor to the David Eccles School of Business dean. “Even before they graduate, our students are immersed in learning about strategy and leadership.”

For example, Carter McDaniels BS’23 and his peers at the Goff Center were challenged to create a business plan for The Other Side Academy, which provides life skills and vocational training for individuals experiencing homelessness, working to overcome substance abuse, or seeking an alternative to incarceration. The students crafted a plan for the organization to create and sell succulents—a strategy that has not only been implemented but is flourishing. “Participating in Goff was a pivotal experience for me,” says McDaniels. “This program didn’t just teach me about strategic leadership—it made me a more conscientious and intentional student and leader.”

Although housed in the business school, the Goff Center’s programs are open to all U students, serving those from their first year through graduate level. Since 2020, more than 3,500 students—including undergraduates from 57 different majors—have taken part in its offerings. The center fosters relationships with hundreds of organizations, tackling projects ranging from an AI initiative with consulting firm Korn Ferry to collaborations with the Sugar House Chamber of Commerce to mitigate construction impacts. Activities vary from short-term to semester-long, with additional events for the center’s national alumni network.

Strategic thinking and leadership in the workplace are critical, says Watson, who has a robust background in management consulting and corporate strategy. “But we’ve got to get to a point where we no longer see these skills as something that come only later in the career,” she says. “It’s vital to let students apply these concepts in real, often ambiguous, situations.”

The Goff Center was started in 2017 thanks to a generous gift from Greg Goff BS’78 MBA’81, former CEO of Andeavor (previously Tesoro Corporation). “I firmly believe we need to help young people be more successful faster,” says Goff. “Anyone can become a strategic leader—we just need to give them opportunities and experiences.” For example, the Goff Center didn’t just help Rylie Halliday BS’21 land a job as a wealth analyst at Crewe Advisors—her experience led her to step into the role of director of operations a few short months after graduation.

“Education is a critical component of our society,” remarks Goff. “And Utah is uniquely positioned to create innovative educational strategies that prepare our students not just for jobs, but to be leaders in every sector.”

To host a project or apply, visit eccles.utah.edu/goff.

Seth Bracken is editor of  Utah Magazine.

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