Stay in college: It will pay off

Are you currently in college? Good. Stay there, because according to the United States Census Bureau, more education continues to pay off in a big way.

Youths and adults in the age of 16-24 with at least a bachelor’s degree are likely to earn an average of four times more than those with less than a high school diploma. Persons 18 and older with a master’s, professional or doctoral degree earned an average of $82,320 in 2006, and those with less than a high school diploma earned an average of $20,873.

Let us do some simple math. Between the average earnings of $82,320 for post-graduate workers and $20,873 for workers with less than a high school diploma, the difference is a whopping $61,447 in average.

Persons 18 and older with a master’s, professional or doctoral degree therefore earn 2.94 times, or 66.04 percent more than those with less than a high school diploma.

Photo credit: U.S. Department of Commerce, United States Census Bureau.

Photo credit: U.S. Department of Commerce, United States Census Bureau.

To put this in perspective, the percentage of the average income between workers with less than a high school diploma and post-graduate workers is 25.35. The workers whose education is less than a high school diploma therefore earn only ¼ of what workers with a master’s, professional or doctoral degree earn.

Workers 18 and older with a bachelor’s degree earned an average of $56,788 in 2006, while those with a high school diploma earned $31,071, making the average difference of $25,717 annually.

Makes those years in college worth the work now, right?



Categories: Student Life

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