We all hear how people with college degrees earn more than those without. In fact, today a college degree sometimes isn't enough once you hit a certain level- you need your CPA, CFA, or MBA to continue moving up the career ladder and to make more money. But the actual data supporting these claims is appalling- making me count my blessings I never gave college a second thought. According to the US Census Bureau, college students with a Bachelor's Degree will earn on average $49,000 compared to only $26,000 made by those with only a high school diploma. How does this add up over the years?
If you start working at age 22, and continue working until you retire at 65, the college graduate will make over 2.2 million more than the high school grad. This counts only a 3% annual inflation rate of your salary- and does not include wage-jumping promotions that we all hope we'll have! According to these assumptions, college grads will make over 4 million dollars in their lifetime. Check out the graph below, courtesy yahoofinance.com.
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