The Economic Value of Education

A government report based on data from the Census Bureau has determined that a bachelor’s degree is worth about $23,000 a year, with college graduates earning and average of $51,554 in 2004 compared with $28,645 for those with only a high school diploma. If you carry that yearly salary difference through retirement age, you end up with a total difference of about $1.2M.

High School dropouts earned an average of $19,169 a year, and those with advanced college degrees earned an average of $78,093.

So high school is worth about $502,000

College is worth an incremental $1.2M

Graduate school is worth another $1.4M

It seems like a no-brainer to me, specially when you consider some of my buddies who have turned what they learned into economic engines worth billions of dollars as an up-side. Of course there is a down side, but according to the large-scale statistics, even Joe-average is best served staying in school a little longer.

1 Comment

Filed under Education, Math

One response to “The Economic Value of Education

  1. Anonymous

    No education is unthinkable. More education so much the better. Never stop learning or begin to die. Phil

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s