Co-Worker vs. Colleague: Is it just semantics?

When I was in graduate school I learned what it meant to be exempt. In retrospect, I. Was. (Am?) Naive.

It wasn't until recently in discussions in various meetings that the idea of non-exempt being involved in 'major decision-making' came up.

Yep, that's right ladies and gentleman, I am involved in major decision-making.

But, it wasn't always this way. When I left my collegiate experience for my first job, I didn't even bat an eye at whether or not I would be exempt. I didn't really understand it anyway. A job is a job, right? Perhaps, but looking back however, there was little, if any, major decision-making.

The reason I've been thinking about this lately is because of interesting semantics.

In all previous jobs that I've held before now, those around me used the word co-worker to describe those with whom he or she worked. However, when I came BYU, others around me used the word colleague. It made me pause. It made me think. It made me wonder.

It held a certain professionalism. I liked it.

Like I said, I've been thinking about these two words lately, and even looked them up:

1) Co-worker, one who works with another, a fellow worker
2) Colleague, a fellow member of a profession, staff, or academic faculty; an associate

At first I thought it was just semantics, but the longer I'm here, the more I realize that the meaning is inherent. Somehow, the word colleague relays certain expectations. A bar, higher standards if you will. And equality. Where else would I be a colleague to eight other professionals 20+ years my senior.

So, I hurl this question into cyberspace, is there a difference between co-worker and colleague, or is it just semantics?