What is the dollar value of earning a college degree?

Last updated Feb 5, 2021

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“A college degree pays off–but by just how much? In this report, we examine 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. The data are clear: a college degree is key to economic opportunity, conferring substantially higher earnings on those with credentials than those without.” – The College Payoff

According to an article on today’s US News Website, “those with bachelor’s degrees, no matter the field, earn vastly more than counterparts with some college or a high school diploma, indicating that no matter the level of attainment or the field of study, simply earning a four-year degree is often integral to financial success later in life.”

“Those with a college degree will earn about $1 million more than those with only a high school diploma. “Those holding bachelor’s degrees earn about $2.27 million over their lifetime, while those with master’s, doctoral, and professional degrees earn $2.67 million, $3.25 million, and $3.65 million, respectively. That said, the major and industry a student selects ultimately have an enormous impact on lifetime earnings. Those with bachelor’s degrees who work either in management or science, technology, engineering, and mathematics (STEM) earn more, on average, than people with advanced degrees of any level who work in fields like education, sales, and community service. “

The information contained in this article comes from a report entitled The College Payoff, by Georgetown University‘s Center for Education and the Workforce.

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