Over time, people who have college degrees earn significantly more than those without a degree and get bigger raises, too. The average high school graduate can expect about a $12,000 US Dollar (USD) salary increase over the course of his or her career, and the earnings of a person who has a college degree can increase by more than $50,000 USD during his or her career.
More facts about college degrees and earnings:
- People who have college degrees also earn more overall than their peers who have only high school diplomas. Though this difference isn't small in fresh graduates — 22-year-olds with a bachelor's degree make about $10,000 US Dollars (USD) more per year than those who have only high school diplomas — it is extremely pronounced in those between the ages of about 38 and 55. A 38-year-old who has a college degree makes about $40,000 USD more per year than his or her peers who have only high school diplomas, and people in the early 50s make about $50,000 USD more per year than their peers with high school diplomas.
- The trend of larger raises and higher salaries doesn't only apply in highly skilled jobs. In middle-skilled jobs, workers who have college degrees earn about 40% more than their peers with only high school diplomas, and in low-skilled jobs, people who have college degrees earn about 37% more than mere high school graduates.
- People who have college degrees are also more likely to be employed than people who have only high school diplomas. In 2010, the unemployment rate for high school graduates who didn't have college degrees was more than twice that of people who did have college degrees.