A college degree can significantly increase your earning potential. According to the National Center for Education Statistics (2008), bachelor’s degree recipients earned 28 percent more than people with associate’s degrees and 53 percent more than those with only high school diplomas. Postgraduate degrees increase salaries even more.
The question is: Do online degrees bestow the same earning potential as degrees earned by attending traditional on-campus programs?
The answer to this question is unclear, and depends on a variety of factors. A degree is only as good as the job it earns you. The value of an online degree depends on an employer’s perception of its validity. Employer perception of online degrees seems to be trending in a favorable direction, as online programs become increasingly challenging and technical.
One of the greatest challenges to the perceived legitimacy of online degrees has been "diploma mills"--unaccredited online institutions that bestow degrees on people who complete their programs. On the surface, these institutions seem great; they offer degrees that you can earn very quickly and inexpensively.
However, these degrees are essentially worthless, as they don't meet the educational standards you need to get a job. If the price of an online degree and the amount of time required to earn it seems too good to be true, beware. Unfortunately, the proliferation of diploma mills has lead to a general lack of trust in online education.
A 2006 national survey of employers showed that most preferred to hire candidates whose degrees were earned through a traditional institution as opposed to online (Informaworld, 2010). However, states have begun to crack down on "diploma mills," and many reputable universities now offer online programs. Because of these two factors, employers seem to view online degrees in a more favorable light, as long as they can verify the validity of a program that bestows them.
To obtain value from your online degree, you must get it from an accredited institution. The U.S. Department of Education maintains a list of all institutions that have been appropriately accredited to grant academic degrees, online and otherwise. Your state also likely keeps a list of educational institutions that can legally operate within it.
The following warning signs should be a "red flag" that a website is offering illegitimate online degrees: