Higher Education Pays
Is going back to college worth it? According to the U.S. Census, higher education pays in "higher earnings and lower unemployment rates"
Every year the U.S. Census and the Bureau of Labor and Statistics release a report called “Education Pays.” And every year, the results are the same. They report that higher education definitely pays.
There are two things you can count on like clockwork with a higher education:
1. You will increase your earning power
Bachelor’s degree grads earn almost twice as much as high school grads, while those holding a professional degree earn nearly three times as much!
2. You are more likely to be employed
The higher your degree is, the lower the unemployment rate. College grads have an easier time finding jobs and holding on to the good ones.
The data in these reports is gathered from thousands of U.S. households. This is not just some projection of what you could earn. These are real numbers of what people earn.
This particular graph is broken out by weekly earnings, but the U.S. Census Bureau also breaks it out by annual salary and lifetime earnings. When you add up the difference of lifetime earnings, the results are staggering. For example, a college master’s degree is worth $1.3 million more in lifetime earnings that a high school diploma.
So what are you waiting for? Go back to school and earn a degree!