Posts Tagged With: United States

Education and earninngs – US Census 2012 data

I am self-professed nerd. I like information and I like research. Just this week I’ve been blogging about the value of education and the importance of going to school. Right on cue, the US Census released its data from 2009 this week and a number of reports on education. Here’s one particular quote I like:

“One of the potential benefits of educational attainment is economic success particularly through access to higher earnings…”

Now lets get right down to the nitty gritty in terms of facts and figures. The following are the expected earnings based on educational attainment:

less than high school – approx U.S. $18,000 p.a

High school diploma – approx U.S $27,000 p.a.

GED – approx. U.S. $23,000 p.a

Bachelors – approx. U.S. $48,000

Advanced degree – approx. U.S. $62,000

FYI, for the advanced degrees, there is a great margin in the earnings as per this quote

” Higher levels of educational attainment are associated with higher earnings.  In 2009, adults with professional degrees earned more than any other education level, with mean monthly earnings of $11,900 for full-time workers. On average, adults with a master’s degree earned $6,700 per month and those with a bachelor’s degree earned $5,400 per month. Adults with an associate’s degree earned $4,200 per month on average while those with some college but no degree earned $3,600 monthly.”

Women earn less than men in almost all cases, and this is even further asserted when the figures are broken down by race and ethnicity.

Among hispanics, the report found that adults with a bachelors education have increased in number to 14.1% compared to 11.1% in 2001; for African-Americans, the stats are up to 19.7% from 15.7% in 2001. For non-white hispanics (their designation, not mine) the number rose from 28.7% to 34%. In the general US population 30% hold bachelors degrees while about 11% have a graduate degree. Asian-Americans are the most educated group with 50.3% of this population having a bachelors degree, and 19.5% having an advanced degree.

These are U.S. figures, but they do speak of the correlation I mentioned prior.

You read the detailed reports on the bachelor degrees and the second report on the field of training and economic status.

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What is a Masters degree worth? à la NY Times

I was scouting the internet to see what’s ‘out there’ concerning Masters degree after doing a blogpost on seven reasons to do a masters, and I came across a series of short articles done by the NY Times’ “Room for Debate” series back in 2009. The writers are three US professors and a financial advisor debating the economic merits of doing a masters degree:

  • Mark C. Taylor from Columbia University,

    Image representing New York Times as depicted ...

    Image via CrunchBase

  • Stephen Joel Tranchenberg, Former University President,
  • Liz Pulliam Weston, personal finance columnist
  • Richard Vedder, Ohio University economist

Now keep in mind that this was at the heart of the economic downturn (2009) so all things financial especially in the States were shrouded in doom and gloom, and also that this is a very American perspective.

Here’s a gist of the arguments they make:

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