Bachelor of Medicine, Bachelor of Surgery
Medical degrees differ from other undergraduate degrees in that they are professional qualifications that lead holders to enter a particular career upon receipt. This is not the case with most other undergraduate degrees, so whilst the Bachelor of Medicine and Bachelor of Surgery are undergraduate or graduate degrees (depending on the institution), they are perhaps more accurately conceptualised as a so-called first professional degree. Other professions whose qualifications follow a similar pattern include:
Academic capital
Whereas the biggest stepping stone to attain a higher paying career used to be an undergraduate degree, the common discussion in today’s market is the devalued status of a Bachelor’s degree. A Bachelor’s degree no longer holds the same academic capital it used to, and holding such a degree no longer entitles one to the same job opportunities and income possibilities it used to. Government statistics reveal that over the past 8 years, the average weekly earnings of individuals with bachelor's degrees have actually decreased, in relation to inflation, by nearly 2%. Therefore, many individuals are studying beyond four-year institutions in order to increase their capital and ultimately their income. When compared to an individual with a bachelor's degree, an individual with a graduate degree makes, on average, nearly $75,000 more annually.