There’s a reason your parents were able to work their way through college and graduate without debt. Since 1978, the cost of a college degree has risen by over 1,490%, and student loan debt now totals $1.6 trillion. One might wonder if college is worth it.
In some cases, it is. A degree in artificial intelligence programming will get you a starting salary close to or above six figures. Surgeons earn an average of $437,144 a year. Clearly, the right higher education degree pays for itself.
However, there are low-paying, stressful professions that require substantial education. In some cases, they don’t even offer job security since they are endangered by technological advances.
Key Takeaways
- A college education and a professional position do not guarantee financial freedom.
- Low-paying professions that require substantial credentials include teaching, journalism, paramedical jobs, and religious ministry.
- If you choose one of these career paths, do it for love, not money.
Priest, Pastor, or Rabbi
Aside from writing and presenting a weekly sermon, religious leaders are considered by their communities to be the final word on morality. They’re called on constantly to provide counseling on marriage, family, and spiritual issues, and to give comfort in times of distress.
All that comes with the expectation of an advanced degree in theology.
You need a bachelor’s or better, and prior experience as well as exceptional personal skills. The median salary is $55,608.
Journalist
The Internet killed the printing press. Some magazines and newspapers are surviving online, and the lucky few journalists with jobs make around $57,320 a year. The unlucky ones have been pushed out by bloggers willing to report for the byline and have been unable to secure full-time employment with fair pay.
Journalism was always a stressful profession given its constant deadlines. Add extreme job insecurity to the downside, but the gateway is still a bachelor’s degree in journalism or communications, with a master’s preferred.
$1.602 trillion
The amount of outstanding total student debt, as of the end of 2023.
Paramedic
This one is truly hard to understand, considering the importance of a paramedic’s work. The median pay is $49,399, and that is with the exceptionally long and brutal hours required for the position.
The work is exceptionally intense and many paramedics burn out after just a few years on the job. Although the job doesn’t require medical school, advanced certifications in all manner of first-line treatment are expected and are expensive to obtain.
Teacher
The average salary for a teacher seems reasonable. Teachers make an average of $59,029 a year and while that may seem adequate, it fails to take into account some important points.
Teachers typically have relatively low benefits and very long work days, especially those teaching in public schools. It is not unusual for a teacher to start the workday at six in the morning and keep going into the late hours of the night.
The average salary does not account for the overtime teachers regularly put in, often amounting to 60 hours a week or more.
Most teaching positions require at least a bachelor’s, many states require a master’s degree, and it is quite difficult to obtain a higher-level position without a Ph.D.
What Are Some Other Low-Paying Professions?
Some other jobs that often don’t pay well but require advanced certifications are accountant, graphic designer, architect, and police officer.
These jobs often pay better after years of seniority are achieved, but all four require certification and education well beyond other jobs with similar starting pay.
What Are Some of the Highest Paid Jobs in the U.S.?
Unsurprisingly, the highest-paying jobs in the U.S. are in healthcare. Surgeons, anesthesiologists, oral surgeons, orthodontists, and internal medicine physicians all top the charts with solid six-figure salaries.
Remember though, that those paychecks come with significant student debt, not to mention long years of education and training.
What Is the Return on Investment of a College Degree?
The Education Data Initiative did an interesting study and found that for the average bachelor’s degree, the lifetime median return on investment (ROI) for the degree is 287%. However, it should be noted that for the first ten years following graduation, the ROI is actually negative, at -41%.
The lifetime ROI for a master’s is slightly over 433%, and for a doctorate is 416%.
Although you generally won’t see a return on your investment for a bachelor’s degree for around 15 years, it has one of the best ROIs when compared to the time required as well as the earlier entry into the workforce.
The Bottom Line
Some jobs have it all: tension, frustration, and poor pay while requiring years of additional education.
Why take on debt to prepare yourself for fields with such prospects? Simply put, it’s not all about the money. Priests, journalists, paramedics, and teachers usually pursue these career paths for reasons other than the salary.
Read the original article on Investopedia.