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Top 5 Industry Trends Shaping the Value of College Degrees

Quick Highlights:

  • Degree ROI measures if your degree is worth the time and money invested.
  • Research top college majors for high ROI before starting a program.
  • Industry trends like tech, sustainability, and healthcare impact degree ROI.
  • Economic events can influence job market demand and employment rates.
  • Consider your interests and passions along with ROI and job forecasts when choosing a major.

Table of contents

Each kind of college degree comes with a unique return on investment (ROI). Ideally, you want your degree ROI to be as high as possible because it indicates if your degree is worth the time and money you invested in it. Before you start a college degree program, you should spend some time researching top college majors for ROI.  When choosing a college major, you should also consider the current industry trends in education. The impact of industry trends on jobs will change in the future, so you need to think about upcoming trends and what they will do to your career field. We explore some of the top industry trends that influence ROI so you can prepare for a future-proof career.

Related:

Understanding ROI in Education

Your degree ROI refers to the amount you spend on your degree and the amount of money you get out of it. In economics, ROI refers to the expected profitability of an investment. While it’s impossible to know for sure how investments will pay off in the long run, calculating the ROI allows you to get a general idea about what to expect so that you can make wise business decisions. 

When calculating the top college majors for ROI, you have to consider the tuition cost, room and board, and other fees. You need to account for opportunity costs, such as lost wages or missed promotion opportunities. Afterward, you can calculate the potential salary increase from your degree. 

The entire degree ROI can vary significantly based on job marketing demand and career growth potential. It’s also important to consider starting salaries because you will need to make your first student loan payments about six months after you graduate from college. 

Industry trends in education are going to have an ongoing impact on ROI. Technological advancements in education, sustainability, and remote work are just a few of the future job market trends that will impact which high-paying college majors continue to have a strong ROI in the future. 

Technological Advancements 

Tech innovations are an excellent example of how college investment returns can change significantly based on new industry trends. For example, data science, machine learning, and artificial intelligence (AI) are all thriving because of the growth of AI and data analysis in recent years. From your doctor’s office to your mechanic, many organizations are now incorporating AI into their day-to-day operations. 

Sustainability and Renewable Energy 

In recent years, there has been a large push toward more sustainable products and renewable energy. Some of the best degrees for future students involve sustainability and green living. For example, you may want to pursue a master’s degree in sustainability or a bachelor’s degree in renewable energy. 

Healthcare Innovations 

When preparing for workforce demands in 2024, it’s important to have a strategic degree selection. Because Baby Boomers are starting to retire and need more healthcare, the healthcare industry will need additional workers in the future. When choosing a college major, you may want to consider a topic in healthcare. 

New technology will impact the procedures, venue, and care patients receive. Instead of going to a doctor’s office, many patients can access telemedicine instead. Likewise, wearables, virtual reality, and robotics are playing a role in patient monitoring, physical therapy, and surgeries. 

Data and Cybersecurity 

There is always an economic impact on degree choice that must be accounted for. Through data and cybersecurity, you can enjoy excellent college investment returns. Thanks to data generation and AI, there is a growing need for data protection and cyber security. 

Remote Work and Digital Communication 

Remote work is changing the landscape in the fields of communication, IT, and management, so it’s important to consider these developments during your career planning in college. You will likely need to use digital tools to work remotely, so spend time preparing for these needs now. 

Analyzing Market Demand and Employment Rates

You can see the impact of industry trends on jobs when you look at employment projects, salaries, and industry growth statistics. To see the most recent salary figures, you can check on Indeed, Glassdoor, and similar sites. Meanwhile, the Bureau of Labor Statistics is an excellent place to go for long-term employment projections. 

Impact of Economic Changes

Economic events, like recessions, pandemics, and financial crises, can impact the job market. For example, you may want to look up emerging fields in education and healthcare because these industries are fairly recession-proof. Meanwhile, remote workers had an easier experience navigating the pandemic, and there is an ongoing telecommuting trend. 

Preparing for a Future-Proof Career 

Even with the best research on the impact of industry trends on jobs, it’s hard to know which career field will perform the best over the long run. You can start by looking at industry trends in education and the overall workforce. Then, you need to find jobs that won’t disappear in the near future because of technological advancements. One way to check long-term forecasts is by using the Bureau of Labor Statistics’ employment projections.    

Making the Right Choice 

Choosing a college major is a difficult decision. Beyond picking a subject you care about, you need to consider the degree ROI and the long-term employment forecasts for your field. Unfortunately, technological advancements in education and other subjects only make forecasts more difficult because you can’t plan for new inventions and disruptive technology. 

To figure out the career you want to do, try talking to:

  • career counselors
  • academic advisors
  • industry professionals

While it is important to look at the industry demand, you should also consider your own interests and passions when picking a major. 

If you’re having a hard time choosing a college major, discovering the ROI for your favorite majors can help. You should also research the impact of industry trends on jobs in your future career field.  

Beyond looking at industry trends in education, you should think about how much the career field will increase your earnings in the long run. By figuring out the top college majors for ROI, you can make sure that the time, energy, and money you spend on your education are worth it.