When it comes to earnings, graduates of college degree programs are paid more in the first two years after graduation than university graduates.
In a study released by Statistics Canada in September 2019, the average annual earnings of college degree holders was:
- 12% higher than the earnings of graduates from university bachelor's degree programs;
- 42.5% higher than those of graduates from college diploma programs;
- 38.2% higher than those of graduates from college certificate programs.
Benefits of College Degrees
According to the study, this can be explained by the employability of graduates from college degree programs. Colleges only support degree programs in fields with high rates of employment, so when you choose a college degree, you are selecting to work in a field where you're likely to get a job soon after graduation.
Colleges pride themselves on building co-op work experiences, offering live client projects and bringing other employable skills into curriculum. This means students graduate ready for the workforce. By comparison, 11.9% of university degree holders decide to go on to pursue graduate programs to enhance their employability, contributing to a delay in career earnings for university graduates.
When it comes to choosing a career, exploring college degrees will pay off since you'll be considering highly employable fields and will graduate ready to hit the ground running in the workplace.