Times have changed since our parents were our age. And many people are questioning if it’s still worth getting a degree, and whether the financial implications of a student loan will outweigh any benefit which comes from higher earning power as a university graduate.

So is getting a degree still worth it?

The answer? It depends.

For those who choose liberal arts majors, such as Bachelor of Arts, or focus on History, Classics, and even popular degrees such as Psychology or Sociology, many will find themselves not working in their chosen fields, and a high number can be found working retail or in fast food restaurants while they decide what to do with their lives.

Like it or not, the decisions we make at 18 and 19 years old will change our lives. This is why it’s of the utmost importance that those who choose to go to university think about their earning potential. Many people who go to university are unable to look past the fact that they’re interested in a subject and did well in high school, and automatically assume that a job relating to their degree will be available to them as soon as they graduate.

So is a degree still worth it? Surprisingly, yes.

The trick is to choose the right field. You can always go back and study again later if you’re no longer interested in your chosen career, but it’s important to get it right the first time. That means ideally choosing STEM majors which stands for science, technology, education and math, since these are more actively recruited and also more highly paid than arts majors, from the time of graduation until the time of retirement.

Taking a chemical engineering course for example, is a good way to ensure that you’ll have a great job in the future. Education levels are going up, and in order to remain competitive it’s crucial that you work hard and focus on achieving a degree which you can use to maintain a good income in the future.

The fact is, it’s estimated that those with bachelor’s degrees make approximately $300,000 more over their life than those who only have a high school education. The trick is to choose wisely, and go to university when you’re ready to buckle down and learn.

People who go to university often have better time management skills, as they’re used to juggling multiple deadlines. They’ll sometimes have better communication and interpersonal skills, since study groups force students to work with others, and they are often better at working under pressure than their degree-free friends, since they have to study for exams.

Having to juggle work, school and a social life teaches students about the real world, and gets them ready for graduation. Talking to others who are also getting the same education opens the mind to new points of view and ideas, and allows people to learn from both their professors and each other.

If you’re considering getting a degree, take some time to think about how you will use it after university and study hard. It will be well worth it.