Is a college education worth it? Many in this year's class may be disappointed at their current job prospects, but their future is brighter than their counterparts who opted out of advanced education. Over the life of their careers, their education means higher salaries and lower unemployment than their non-educated counterparts can expect.
- High School Diploma
- Annual Salary: $28,200
- Unemployment Rate: 4.0 Percent
- Some College, no degree
- Annual Salary: $32,400
- Unemployment Rate: 3.2 Percent
- Associate Degree
- Annual Salary: $35,400
- Unemployment Rate: 2.5 Percent
- Bachelor's Degree
- Annual Salary: $46,300
- Unemployment Rate: 1.9 Percent
- Master's Degree
- Annual Salary: $55,300
- Unemployment Rate: 1.6 Percent
- Doctorate
- Annual Salary: $70,500
- Unemployment Rate: 1.4 Percent
- Professional Degree
- Annual Salary: $80,200
- Unemployment Rate: 1.3 Percent
(Salary information reflects the median earnings for year-round, full-time workers ages 25 and older, by level of education attainment. Source: Occupational Outlook Quarterly, Spring 2002. Unemployment rate source: U.S. Bureau of the Census.)
According to the Census Bureau, over an adult's working life, high school graduates earn an average of $1.2 million; associate's degree holders earn about $1.6 million; and bachelor's degree holders earn about $2.1 million (Day and Newburger, 2002). |