Georgetown University released a report Tuesday that found that though degrees from liberal arts colleges and universities may not pay off right away, they do in the long run.
"Doesn't fare so well five years out, even ten years out," said Anthony Carnevale, director of the Georgetown Unviersity Center on Education and the Workforce. "But thereafter, it tends to catch up and surpass other kinds of post-secondary education."
The report found that the median return on investment for graduates from all colleges 10 years after enrollment is $107,000, but $45,000 less for those with liberal arts degrees within the same time frame.
According to the report, the the situation reversed 40 years after enrollment, when students from liberal arts schools earn $918,000—almost $200,000 more than the median for all college graduates combined.
Carnevale said the findings of the report surprised him.
"What you hear more and more is, 'Well, we don't need more college graduates—that is people with four-year degrees. What we need is more plumbers,'" he said. "That's not really true. What we need is both."
Carnevale added that the liberal arts degrees gained value over time because liberal arts grads have the ability and skills to switch jobs three or four times.
