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The good news is that many workers without bachelor’s degrees have high earnings. High earnings are defined here in two ways. Both depend on medians, the point at which half the workers earned more and half earned less. The first measure of high earnings sets the cutoff at the median for earnings of all workers. The second measure raises the cutoff to the median for earnings of workers with a bachelor’s degree.

Despite these trends, over 9 million, or 15 percent, of the full- time wage and salary workers age 25 and older who didn’t have a bachelor’s degree in 1998 earned more than $821 a week. That’s more than the median for college graduates.

Earnings are one measure of what makes a job good. But choosing the right career involves many factors. Job characteristics, such as the nature of the work and working conditions, are also important. This article identifies occupations in which many highly paid workers do not have a bachelor’s degree and points out other things that make for a good job.

In 1998, 22.5 million workers without a bachelor’s degree earned $572 or more a week, and 9 million earned $821 or more. (See chart 1.) Thirty- eight percent of workers without a bachelor’s degree earned more than the median for all workers ($ 572 per week). Fifteen percent of those without a bachelor’s degree earned more than the median for workers with a bachelor’s or higher degree ($ 821 per week). (See chart 2.) In several occupations, more than 10 percent of the workers without bachelor’s degrees earned over $1,000. (See table 1.)

• Occupation
• Age
• Education and training.

Occupation.

In addition to total employment, table 2 shows the number of workers who do not have a bachelor’s degree and their share of the total. Table 3 lists the same occupations but shows the number of high- earning workers who do not have a bachelor’s degree— those earning $821 or more per week. Table 3 also describes the employment of these high- earning workers as a share of all workers and as a share of those who do not have a bachelor’s degree.

Earnings vary within occupations. Not every worker in a high- earning occupation makes a lot of money. Consider the example of freight, stock, and material movers. Although some of these workers enjoy high earnings, most do not. This occupational group appears in table 3 because 54,000 of these workers did not have bachelor’s degrees but earned more than $821 a week. However, these workers accounted for only 7 percent of all freight, stock, and material movers who did not have bachelor’s degrees. As noted in table 1, freight, stock, and material movers had median weekly earnings of $379, much less than the median for all workers.

Age.

Education.

What’s good besides earnings?

• Benefits
• Projected growth and openings
• Job security
• Advancement potential
• Nature of the work.

Depending on the mix you prefer, a job with lower earnings might please you more than any other.

Benefits.

Depending on the benefits package, a job with lower earnings might provide better total compensation than a job offering just a large paycheck.

Projected growth and openings.

Some high wage occupations that do not require a bachelor’s degree, such as machinists, are not expected to grow. Others are expected to grow about as fast as the average for all workers, including truck drivers, police and detectives, automotive mechanics, material moving equipment operators, and mechanical engineers. Computer programmer, registered nurse, and most health technologist and technician occupations are projected to grow faster than average.

Lack of growth in an occupation does not always mean a lack of job openings. For example, machinists have favorable prospects despite their lack of employment growth, because of the shortage of skilled machinists in the labor market.

Job security.

Unemployment rates reflect two kinds of unemployment: cyclical and long term. Recessions and seasonal changes in production create cyclical unemployment in many occupations. During slack periods, workers may face temporary layoffs but can expect to resume work when conditions improve. On the other hand, long term unemployment or even permanent job loss may result from restructuring or plant closings. Jobs in organizations or industries with good long- term prospects are obviously more desirable. If you lose your job, you will likely find another one in such an industry.

Advancement potential.

Some occupations offer a natural path for career advancement. For instance, an electrician apprentice becomes a journey level electrician and then, perhaps, an electrician supervisor or contractor. Workers in other occupations may need to blaze their own trail to success. Still other occupations or jobs offer few, if any, chances for advancement.

Promotion potential varies from employer to employer. In general, fast growing occupations and organizations offer better promotion prospects. Large employers often provide better prospects, but small organizations may offer broader responsibilities and opportunities to learn a wider range of skills. The most successful workers look for opportunities and seize them when they arise.

Nature of the work.

Individuals like doing tasks that interest them, use their skills, and satisfy their needs in other ways. What interests you? Is it cars, music, children, or any one of thousands of other subjects? Do you like taking risks, or do you desire security? Does stress motivate you or make you sick? Different personalities crave different types of activities, such as the following:

• Helping others
• Analyzing data or information
• Coordinating events and activities
• Teaching or mentoring
• Selling or persuading
• Operating or fixing machinery
• Creating new concepts, designs, or works of art
• Running an enterprise
• Managing the efforts of others
• Organizing ideas or programs.

Individuals have their own ideas about the work environment they prefer. Some people like dealing with customers or co-workers all day long, whereas others would rather work alone more often than not. But in either case, having a good supervisor and friendly co-workers may count for a lot.

Important physical characteristics of work include the level of physical exertion necessary, cleanliness and safety of the workplace, and ability to control the pace of work and the methods used. Geographic location also matters. For some people, a good job is one that is near their home.

Different workers value the idea of paid work differently. The hours that high pay demands may clash with what a worker wants. Some only want part- time work so they can devote their energies to family responsibilities, school, or other pursuits.

To learn more about the many distinguishing characteristics of occupations, see “Matching Yourself With the World of Work, 1998,” in the fall 1998 OOQ. To obtain a reprint of this article, call the Consumer Information Center at 1(888) 878- 3256.

Are you ready?

Find out all you can about occupations that interest you. Research the entry requirements and other characteristics so you will know what to expect. Above all, choose a career that meets your definition of good. The demand for skilled workers will remain strong. Are you ready?