The Benefits and Detriments to Earning a Doctorate Degree
There is no question that earning a doctorate degree creates more career opportunities both in terms of salary eligibility and type of employment. Unfortunately, these opportunities come at the price of many years of foregone labor market earnings. Many doctorate degree candidates are unable to find work in their field while they are actively pursuing their degree, which can lower earnings even further over the course of their academic career. In addition, doctorate degree programs are expensive, and often require candidates to borrow substantially in order to complete them. On the positive side, however, lost earnings, even if invested at the time they are earned, are more than likely to be compensated and eventually surpassed in the years immediately following graduation. As for the price of earning a doctorate degree, student loan providers generally offer very reasonable interest rates compared to other lenders and allow students to repay over the course of many years, usually without requiring any payment until graduation.
According to the U.S. Census Bureau, doctorate degree holders will earn, on average, just under one million dollars more than their masters degree holding counterparts over the course of their working lives. If financial incentive were the only consideration, doctorate degree holders would have sufficient justification to pursue advanced degrees. Often, however, the career aspirations of highly skilled individuals in general, and in particular doctorate degree holders, can’t be measured by salary alone. They often attach great significance to the opportunities that a doctorate can provide, such as the ability to do a type of work they care about and for which they have been trained. For that reason, no single measure can satisfactorily describe the doctoral labor market.
Crash Course: Aviation Careers and Training
Interested in airplanes and flight? Mechanics and electronics? Aviation and aeronautical careers are increasing in demand as the population rises, the economy strengthens and people become more comfortable resuming air travel. Find out about the types of careers available and the training and experience required to pursue them.
Careers in the aviation and aeronautical field include pilots, flight engineers, aircraft mechanics, and avionics technicians. The following is a quick description of what each of these jobs entails.
• Aircraft mechanics (airframe mechanics, power plant mechanics, and avionics technicians) Airframe mechanics work on everything except instruments, power plants, and propellers. Powerplant mechanics do some work on propellers as well as work on engines. Workers can become certified in both airframe and powerplant mechanics (A&P) and work on all parts of plane excluding instruments.
• Avionics technicians maintain radio, navigation, and radar instruments and components. They may be required to acquire additional licensing by the U.S. Federal Communications Commission (FCC).
• Flight engineers often are the third member of the cockpit crew. They monitor instruments, make repairs, and assist the first officer and captain in flight. Flight engineers are required to have pilot’s licenses, flying experience, and must pass an exam given by the FAA. They may even become pilots with the right training, experience and desire.
• The First officer is also known as the co-pilot. The first officer monitors instruments during take-off and landing while the captain focuses on the runway and controls. During the flight the first officer and the captain alternate flying the plane.
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