The College Payoff: Education, Occupation, Lifetime Earnings
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College pays off over a lifetime, but occupation, gender, race and ethnicity matter too. The report also details how some workers can make more than their better-educated counterparts.
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The College Payoff: Education, Occupation, Lifetime Earnings
- 1. The College Payoff: Education, Occupations, Lifetime Earnings Anthony P. Carnevale, Stephen J. Rose, and Ban Cheah August 5, 2011
- 2. Overview • A college degree is key to economic opportunity. • Only 41 percent of adults in America have a college degree. • Since 1999, the premium on college education has risen to 84 percent.
- 3. Rule 1: Degree Level Matters • On average, people with more education make more than those with less.
- 4. Con’t. • The wage gap is widening. In 2002, a Bachelor’s degree-holder could expect to earn 75 percent more over a lifetime than someone with only a high school diploma.Today, that premium is 84 percent.
- 5. Rule 2: Occupations can Trump Degree Level • There are significant earnings variations between different levels of educational attainment. • A person does not have to be highly educated to earn over the median salary in his/her field.
- 6. Con’t. • Some occupational clusters pay better than others. STEM occupations earn much more than teachers despite level of educational attainment.
- 7. Rule 3: Degree Level Still Matters Most in Individual Occupations
- 8. Rule 4: Race and Gender can Trump All When Determining Earnings • Women with a Bachelor’s degree earn about as much as men with some college education but no degree.
- 9. Con’t. • African Americans and Latinos earn less than their white counterparts, even among the most highly-educated workers.
- 10. Conclusion • Education is an investment worth making since it directly impacts lifetime earnings. • However, occupation, race, and gender play significant roles in one’s potential earnings.
- 11. For more information: See the full report at: cew.georgetown.edu/CollegePayoff Email Us | cewgeorgetown@georgetown.edu Follow Us on Twitter | @GeorgetownCEW Find Us on Facebook | Facebook.com/GeorgetownCEW Follow Us on LinkedIn | linkedin.com/company/georgetowncew