Does More Education Mean More Money?

Does More Education Mean More Money? Characteristic Median income (eurrent dellars) Educatinal attainment of honseholder. MALE FEMALE Less than 9th grade th to 12th grade 仔 043 10,625 20,845 1,904 High schoo graduate Some colege, no degree 30,879 18,293 37,297 23,252 Associate's degree Bachelor's degree 42,608 27,75 57,278 36,294 Master's degree Professional degree Doctoral degree 70,973 48,000 100,000 58,364 90,575 60,619 A master's degree is worth $1.3 million more in lifetime earnings than a high school diploma. High school graduates can expect, on average, to earn $1.2 million; those with a bachelor's degree, $2.1 million; and people with a master's degree, $2.5 million. Workers with an associate's degree earn an average $6,950 more every year than those with only a high school diploma. That's $34,750 after five years and $69,500 after ten. The average associate's degree costs about $2,544 a year. Graduating from a four-year degree program means an average of $13,800 every year, the Bureau of according Labor Statistics. That's $69,000 five years anda whopping $138,000 after ten The average four-year public school degree costs $7,020 a year. Workers with doctoral degrees earned an average $14,250 more than those with master's degrees. After five years, they earn $71,250 more; after ten years, $142,500 more. The annual average cost is $32,966. Depending on your chosen career, you could pay off your doctorate degree in five to ten years. Sources http://www.censusgov/prod/20pubs/lstatab/incomepat http://usgovinfo.about.com/od/moneymatters/a/edandeaningshtm