Earning a Promotion: Do You Need a Bachelor's Degree?

Is a Bachelor’s Degree Worth It?

From high school students to working professionals, many struggle with the same questions:

• Do I need a bachelor’s degree?
• How will I afford college?
• What is the return on investment of a college education?

These questions follow individuals even after they have started school. According to the National Student Clearinghouse, 38 percent of students who start a degree or certificate program don’t finish within six years. As a result, many professionals in the field have college credits, but no degree to show for it.

While you may have paused your education for financial reasons, that does not mean completing a degree isn’t a good investment. In fact, the lifetime median return on investment for the average bachelor’s degree is 287.7 percent.

The financial benefits don’t stop there though. According to the U.S. Bureau of Labor Statistics, education can make a huge difference on your potential earnings, with professionals with some college credits, but no degree, earning a median annual salary of $48,620. On the other hand, professionals with a bachelor’s degree earn a median annual income of $74,464.

What causes this discrepancy? Bachelor’s degree holders are more likely to earn a promotion.

Alternative Pathways to Promotion

There are several educational paths available to working professionals who want to advance their careers. However, they don’t often provide the same benefits.

For example, one of the most common ways to quickly earn a promotion is by enrolling in a professional certificate program. This qualification requires minimal time and financial investment and focuses on developing a specific skill set, such as data analysis and management.

While professional certificates can enhance knowledge quickly, they may not carry the same weight as a bachelor's degree when it comes to earning promotions.

“Most of the certificate programs are fairly narrow in their skills base,” Koehler says. “While they can be really good to have, they all come with a pretty short expiration date.”

This is why employers typically regard a bachelor's degree as a more comprehensive indicator of a candidate's abilities and commitment to a field.

“The more effort you put into your education, the more you're going to get out of it.”

This is easier said than done for some professionals who are juggling both personal and professional commitments. If you are still on the fence about going back to school, here are four ways a bachelor’s degree can help you earn a promotion.

Four Ways a Bachelor’s Degree Can Help You Earn a Promotion

1. Develops Specialized Skills

While skills development is a key takeaway from a bachelor’s degree program, it’s important to distinguish how it differs from other professional development methods.

“People often miss the fact that the most important skills you pick up from a bachelor's degree program are the ones that employers most consistently outline in job postings—communication, critical thinking, and problem-solving skills,” Koehler says. “You just don’t get that from targeted certificate programs or learning on the job.”

These soft skills are crucial to your professional advancement. They enhance your ability to work effectively within a team, navigate workplace dynamics, and lead complex projects. In addition, a bachelor’s degree program offers valuable guidance from experienced faculty, which can enhance your existing technical knowledge.

“One of the major advantages of a bachelor’s degree is it allows you to take those important hard skills and put them into a coherent picture of what it means to lead an organization, a department, or even a division.”

2. Establishes Industry Credibility

Completing a bachelor's degree is more than just an academic achievement; it is a critical step in establishing your industry credibility. A degree signifies a comprehensive understanding of a specific field or discipline, preparing you for the complex challenges of the modern workplace.

Recent data supports this, citing that 68 percent of jobs required at least some postsecondary education in 2021—which is projected to rise to 72 percent by 2031.

According to Koehler, this qualification is the best way to establish industry credibility because of the long-term commitment and perseverance required to complete a rigorous academic program.

“Part of the reason bachelor’s degrees are so appealing to employers is because it's a demonstration that the student took something big from start to finish,” Koehler adds.

As a result, professionals with a bachelor’s degree are often seen as more committed to their roles, demonstrating a willingness to engage in continuous learning and skill enhancement. This proactive approach is crucial in today's fast-paced and ever-changing job market, where the ability to adapt and grow is essential.

3. Provides Networking Opportunities

Networking during a bachelor's degree program offers invaluable opportunities to connect with peers, faculty, and industry professionals. This can help foster meaningful relationships that can support career growth and professional development.

While networking is prevalent in most industries outside of the classroom, a bachelor’s degree program offers a unique environment that can be useful to your career advancement.

“In a bachelor’s degree program you’re looking at a far more diverse network with people from different industries, levels of experience, roles, and geographies,” Koehler says.

This is important because a diverse professional network can significantly increase your exposure to unique perspectives that can make you a more versatile employee. This type of network can also enhance access to a broader range of job opportunities and insider knowledge, which can be crucial to your prospective promotion.

4. Enables Personal Development

Developing professional skills and competencies is crucial to earning a promotion, but a bachelor’s degree can develop other important qualities that are not necessarily meant for the boardroom.

“A bachelor’s degree is all about engaging your brain,” Koehler says. “And that’s important in any industry and for any individual person.”

This is an important benefit of a bachelor’s degree education that often gets overlooked. While the curriculum challenges individuals to expand their knowledge and critical thinking skills, this results in enhancing learner’s confidence and self-awareness.

“That's what a bachelor's degree is,” Koehler continues. “It teaches you how to navigate both the intellectual and interpersonal conflict, which is vital to becoming a more effective member of society.”

Preparing for Your Promotion

Earning a promotion is not easy, but putting a bachelor’s degree from a reputable institution on your resume can certainly help. Regis College Business Management degree completion program is an excellent educational option if you are hoping to expand your business knowledge.

This program is tailored to students who want to get their education back on track. With flexible enrollment options, the program is designed to meet the needs of working individuals. Prospective students can transfer credits from past coursework and continue to expand their business management and leadership skills through Regis’s dynamic curriculum.

For more information about the benefits of completing your degree, contact an admissions counselor to find out if the Regis learning experience aligns with your career goals.