A degree is a formal credential awarded by a college or university after you complete a structured program of study in a particular discipline. Unlike shorter credentials that focus on a single skill, a degree covers broad foundational knowledge alongside specialized coursework, and it’s recognized by employers and other institutions as evidence of education at a specific level. There are four main levels: associate, bachelor’s, master’s, and doctoral, each building on the one before it.
The Four Levels of Degrees
Each degree level represents a different depth of study, time commitment, and credit hour requirement. A credit hour roughly translates to one hour of classroom instruction per week over a semester, so a three-credit course means about three hours of class time weekly for 15 or 16 weeks.
Associate Degree
An associate degree is the shortest path to a formal degree. It typically requires 60 credit hours and takes about two years of full-time study. Community colleges and technical colleges are the most common places to earn one. Programs come in two main flavors: an Associate of Arts or Associate of Science, which is designed to transfer into a four-year bachelor’s program, and an Associate of Applied Science, which prepares you for a specific career field like nursing, welding, or IT support. In 2024, workers with an associate degree earned median wages about $10,700 higher per year than those with only a high school diploma.
Bachelor’s Degree
A bachelor’s degree requires a minimum of 120 credit hours and generally takes four years of full-time study. The curriculum is split across three areas: general education courses (writing, math, science, humanities), courses in your declared major, and electives you choose. You’ll see these labeled as Bachelor of Arts (BA) or Bachelor of Science (BS) depending on the field. A BA leans toward liberal arts and humanities; a BS leans toward math, science, or technical disciplines.
The earnings jump at this level is significant. In 2024, full-time workers with a bachelor’s degree (and no advanced degree) earned median wages $31,200 higher per year than high school graduates, a 62% premium. Among younger workers aged 25 to 34, median earnings were $86,320 for men and $71,360 for women with at least a bachelor’s degree, compared to $50,780 and $39,770 respectively for those with only a high school diploma.
Master’s Degree
A master’s degree is a graduate-level credential that requires a bachelor’s degree for admission. Programs typically run one to two years and require 30 to 60 credit hours of graduate coursework. Common types include the Master of Arts (MA), Master of Science (MS), Master of Business Administration (MBA), and Master of Social Work (MSW). Some fields, like teaching and counseling, may require a master’s for licensure or career advancement. Others, like business and data science, use it as a way to deepen expertise or shift into a new specialty.
Doctoral Degree
A doctoral degree is the highest academic credential. The most well-known version is the Doctor of Philosophy (Ph.D.), which is research-focused and culminates in a dissertation, an original contribution to your field’s body of knowledge. Professional doctorates serve a different purpose: a Doctor of Medicine (MD), Juris Doctor (JD), or Doctor of Education (EdD) prepares you for practice in a specific profession. Doctoral programs vary widely in length, but many take four to seven years beyond a bachelor’s degree. Students who enter with a master’s degree can often apply up to 32 credit hours toward their doctoral requirements.
How a Degree Differs From a Certificate
Certificates and degrees both come from educational institutions, but they differ in scope. A certificate program typically runs 12 to 18 credit hours and focuses on a narrow skill set, like medical coding, project management, or web development. A degree is broader: it covers an entire discipline, includes general education, and takes significantly longer to complete. Certificates do not expire, but they also don’t carry the same weight with employers who require a degree for a position.
A separate category is a certification, which comes from a professional association rather than a school. Think of the CPA (Certified Public Accountant) or PMP (Project Management Professional). Certifications typically require passing an exam and must be renewed periodically. Many professionals hold both a degree and one or more certifications.
Why Accreditation Matters
Not all degrees carry the same weight. The difference often comes down to accreditation, a quality review process that evaluates whether an institution or program meets established academic standards. There are two types. Institutional accreditation covers an entire college or university. Programmatic accreditation applies to a specific department or program within a school, like an engineering program or a nursing school.
Accreditation affects you in practical ways. Federal financial aid is only available at accredited institutions. If you want to transfer credits from one school to another, the receiving school will look at whether your previous institution was accredited. And many employers and licensing boards require degrees from accredited programs. The U.S. Department of Education notes that accreditation does not guarantee credit transfer or employer acceptance, so it’s worth verifying both the school’s accreditation status and whether your target employer or graduate program recognizes it before you enroll.
The Labor Market Impact
Higher degree levels correlate with both higher earnings and lower unemployment. In 2025, 84.1% of adults aged 25 to 64 with at least a bachelor’s degree were employed, compared to 78.8% for associate degree holders and 70.3% for high school graduates. The unemployment rate tells a similar story: 2.6% for those with at least a bachelor’s degree versus 4.3% for high school graduates. Among 25- to 34-year-olds, the gap was even wider, with a 3.1% unemployment rate for bachelor’s holders compared to 5.8% for high school graduates.
These numbers reflect averages across all fields. Some bachelor’s degrees in high-demand disciplines like engineering, computer science, or accounting lead to starting salaries well above the median, while others in less market-oriented fields may take longer to pay off financially. The degree level matters, but so does what you study and how you use it.
How You Earn a Degree
The basic structure is the same at every level: enroll in an accredited institution, complete the required coursework with passing grades, and meet any additional requirements like a thesis, capstone project, clinical hours, or comprehensive exam. Most programs set a minimum GPA, often 2.0 for undergraduate degrees and 3.0 for graduate degrees, though competitive programs may require higher.
Full-time enrollment is the traditional route, but part-time and online options have expanded access considerably. Many working adults complete degrees on evenings and weekends, or entirely online. Transfer students can bring in credits from a previous institution, potentially shortening the time to graduation. Community college students who plan ahead can complete an associate degree and transfer nearly all 60 credits toward a bachelor’s program at a four-year school.
The timeline varies depending on your pace. A full-time student following the standard track finishes an associate degree in two years and a bachelor’s in four. Accelerated programs, summer courses, or credit for prior learning (such as AP exams or military training) can shorten that. Part-time attendance, changing majors, or taking breaks can extend it. The credential itself is identical regardless of how long it takes you to finish.