When trying to decide on a career path or course of study, it's important to consider what the average salary is for the position, how much education is required, the cost of the education, and the career's prominence in society.
There are several socio-economic factors that are usually considered for career and study choices. Some examples are:
How necessary is your career for your community? Perhaps your community needs teachers, and this could be a reason to chose this particular career.
How prestigious is your choice? Many cultures value some careers in particular (for example, medicine). Your choice might be influenced by the preconceptions of your particular cultural environment.
How valued are degrees in general? In some countries, there is a saturation of professionals, and a degree might not give you an advantage. In other countries, having a university degree can be a great advantage when competing for positions.
What is your financial situation? Personal finances is one of the most important socio-economic factors in deciding to pursue a particular career. Can you afford to pay for school? Can you afford to be unemployed for a while? Can you afford to pursue a career that might not pay well?
