| Author(s): | Carnevale, A., Rose, S., and Cheah, B. |
| Title: | The college payoff: Education, occupations, and lifetime earnings |
| Source: | http://www9.georgetown.edu/grad/gppi/hpi/cew/pd... |
| Date: | 2011 |
| Organization: | Georgetown University Center on Education and the Workforce |
| Short Description: | A college degree pays off — but by just how much? In this report from the Georgetown University Center on Education and the Workforce, the author examines just what a college degree is worth — and what else besides a degree might influence an individual’s potential earnings. |
| Annotation: | A college degree pays off — but by just how much? In this report from the Georgetown University Center on Education and the Workforce, the author examines just what a college degree is worth — and what else besides a degree might influence an individual’s potential earnings. This report examines lifetime earnings for all education levels and earnings by occupation, age, race/ethnicity, and gender. Th e data are clear: a college degree is key to economic opportunity, conferring substantially higher earnings on those with credentials than those without. A 2002 Census Bureau study estimated that in 1999, the average lifetime earnings of a Bachelor’s degree holder was $2.7 million (2009 dollars), 75 percent more than that earned by high school graduates in 1999. Today, we find similar numbers — but since 1999, the premium on college education has grown to 84 percent. In other words, over a lifetime, a Bachelor’s degree is worth $2.8 million on average. We present our findings in dollar totals over a career, which is defined as being a full-time, full-year worker from 25 to 64 years old. |
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