Does a College Degree Pay Off?
This chart from 2019 data indicates that the median usual weekly earnings for those having a bachelor’s degree is $1,248 where for those holding a high school diploma alone is $746. This is a $502 difference or 67% more earnings compared to a high school diploma. In non-COVID crisis times the unemployment rate for those having a bachelor’s degree the a 2.2% and for those holding a high school diploma is 3.7% or a 67% higher rate of unemployment. Higher degrees translate to higher earnings and lower unemployment rates.
What is the long-term trend in earnings?
US Department of Labor statistics show that from 2000 to 2018 education level corresponds to yearly earnings. There are approximately $20,000 more in earnings a year by those holding a 4-year college degree than those holding a high school diploma.
