Workers with Bachelor's Degrees Earn Over $23,000 More a Year

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According to an analysis of 2003 Census Bureau statistics, earning a bachelor's degree produces the greatest financial gain on an educational investment -- unless a student goes on to earn a doctorate, in which case the earning hike is even greater. A report issued by worldwidelearn.com, the world's premier online directory of education, reveals that the average worker with a bachelor's degree earns over $23,000 more annually than a high school graduate.

According to an analysis of 2003 Census Bureau statistics, earning a bachelor's degree produces the greatest financial gain on an educational investment -- unless a student goes on to earn a doctorate, in which case the earning hike is even greater. A report issued by worldwidelearn.com, the world's premier online directory of education, reveals that the average worker with a bachelor's degree earns over $23,000 more annually than a high school graduate. The report, "Financial Costs and Long-term Benefits of Education," further notes:

  •     Those with a high school diploma (or GED) can expect to earn an average of $9,181 more annually than those without.
  •     Associate's degree holders earn $8,000 a year more than their high school educated friends.
  •     Master's degree holders average $11,300 more a year than bachelor's degree holders.
  •     Professionals with doctorates have annual incomes over $37,000 higher than those with bachelor's degrees.

Present and Future Value

World Wide Learn's analysis relied on recent Census Bureau statistics to calculate the average bachelor degree's net present value and future value. Both calculations amount to large payoffs for those who continue their education. The net present value of having a bachelor's degree vs. a high school diploma is $235,200. The future value -- which assumes a 40-year career -- is just over seven times that amount, a whopping $1,656,100.

Education and Home Ownership

World Wide Learn's report noted that after deducting the expense of education, the value of having a bachelor degree over a high school diploma -- in 10 years time -- is great enough to pay for today's average home in Evansville, Indiana; Corpus Christi, TX or just about anywhere in Oklahoma or Kansas.

View the full report here.

World Wide Learn is the world's premier directory of educational services, featuring informative resources as well as over 1,600 online degree programs, 200 online universities, 2,300 campus-based career college programs, and over 2,500 online courses. World Wide Learn receives thousands of visitors each day and has been featured on MSMoney.com.

Site: http://www.worldwidelearn.com

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Myryah Shea