Lifetime Earnings Estimates

The latest data released by the National Center for Education Statistics clearly underlines the advantages in average earnings for individuals with a Bachelor’s degree or higher versus a high school diploma or GED equivalent.

Females with a Bachelor’s degree or higher earned on average 71% more money than those with just a high school diploma. Males with a Bachelor’s degree or higher earned 67% more!

You’ll also notice that the difference in earnings between high school diploma/GED workers and Bachelor’s or higher has increased since 1980: for males, Bachelor’s or higher earned 18% more in 1980 vs. 67% more today! For females, that percentage increased to 71% from 35%.

Median annual earnings of all full-time, full-year wage and salary workers ages 25–34, by sex and educational attainment: Selected years, 1980–2006
[In constant 2006 dollars]    
Year All education levels High school diploma or GED Bachelor's degree or higher
Male    
1980 $43,700 $41,400 $48,900
1985 41,200 37,500 51,400
1990 38,600 33,900 49,000
1995 36,400 31,800 49,300
2000 39,800 33,900 53,900
2005 36,100 31,000 51,600
2006 37,000 30,000 50,000
Female    
1980 $29,400 $26,900 $36,300
1985 30,000 26,200 31,100
1990 30,500 24,700 40,100
1995 29,100 23,300 39,700
2000 31,600 24,600 41,600
2005 31,000 24,800 41,300
2006 31,800 24,000 41,000
SOURCE: U.S. Department of Education, National Center for Education Statistics. (2008). The Condition of Education 2008 (NCES 2008–031), Table 20-1.

The U.S. Census Bureau also provides information regarding not only the differences in median earnings between those with degrees and without, but gives a more granular pictures of the degree levels as well as breakdowns by age group. (Note: this is from the 2000 Census.)

Interesting points to note:

  • Those with an advanced degree (more than a Bachelor’s degree) earned 102% more money than those with just a high school degree. (ages 21 to 64)
  • Those with a bachelor’s degree earned 57% more than those with a high school degree. (ages 21 to 64)
  • High school only graduates earned less than the overall median income for the entire US of $ 32,717 per annum.
  • Those with an advanced degree earned 29% more than those with a Bachelor’s degree.
  • The older people get, the larger the divide in income levels between those with Bachelor’s and advanced degrees and those with high school only degrees.

Worked year-round full-time in 1999
  Number Median Earnings
21 to 64 years 85,583,365 $32,717
Not a high school graduate 6,528,410 $21,332
High school graduate 23,102,845 $27,351
Some college 27,232,610 $31,988
Bachelor degree 17,008,095 $42,877
Advanced degree 9,319,410 $5,524
21 to 24 years 5,027,130 $20,502
Not a high school graduate 542,195 $16,430
High school graduate 1,696,730 $19,659
Some college 1,872,275 $20,692
Bachelor degree 664,270 $27,074
Advanced degree 43,050 $27,283
25 to 34 years 21,518,055 $30,187
Not a high school graduate 1,576,555 $20,069
High school graduate 5,312,575 $25,542
Some college 6,899,810 $28,990
Bachelor degree 5,306,210 $37,233
Advanced degree 1,797,180 $43,065
35 to 44 years 26,676,550 $35,764
Not a high school graduate 1,878,460 $21,956
High school graduate 7,455,485 $29,398
Some college 8,592,185 $35,234
Bachelor degree 5,213,895 $49,197
Advanced degree 2,787,790 $58,918
45 to 54 years 22,412,460 $38,145
Not a high school graduate 1,451,370 $22,628
High school graduate 5,683,565 $30,315
Some college 7,144,005 $36,892
Bachelor degree 4,342,840 $49,455
Advanced degree 3,273,080 $59,223
55 to 64 years 9,949,170 $36,119
Not a high school graduate 1,079,830 $24,009
High school graduate 2,954,490 $29,926
Some college 2,724,335 $36,323
Bachelor degree 1,480,880 $50,082
Advanced degree 1,418,310 $60,431
65 to 74 years 1,414,160 $28,316
Not a high school graduate 215,875 $18,293
High school graduate 396,210 $23,249
Some college 331,015 $29,063
Bachelor degree 211,685 $41,767
Advanced degree 211,915 $55,988
Source US Census Bureau - Data from 2000 Census
 
 
 
 

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