Boost Your Salary with a Bachelor Degree
With all its costs in time and money, you may be wondering: Will a bachelor degree really pay off? A bachelor degree is worth nearly one million dollars more in lifetime earnings than a high school diploma, reveals a recent report from the U.S. Census Bureau. So chances are, your bachelor degree will pay off big in a lifetime of higher earnings.
According to the report, "The Big Payoff: Educational Attainment and Synthetic Estimates of Work-Life earnings," high school graduates can on average expect to earn $1.2 million over the course of their working lives. Bachelor degree holders can on average expect to earn $2.1 million.
"At most ages, more education equates with higher earnings," says Jennifer Cheeseman Day, co-author of the report. That means getting your bachelor degree will most likely give a serious boost to your salary, not just now, but over your whole lifetime.
Salaries Soar with Higher Education
A bachelor degree is also the first step on the road to graduate degrees, where the payoff gets even better. You could go on to earn a professional degree and more than double your lifetime earnings, with an average of $4.4 million. People with master's degrees earn an average of $2.5 million during their working life, and those with doctoral degrees earn an average of 3.4 million.
Data on people's yearly salaries tell the same story: As people's level of education goes up, they make much higher yearly salaries:
Get your bachelor degree now, and you could be watching those higher paychecks roll in!
- High school degree/GED: $20,733
- Associate's degree: $30,026
- Bachelor's degree: $38,880
- Master's degree: $50,693 per year
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