Here’s a finding you
can bank on: The more education you get, the more money you
are likely to earn. And usually, those extra earnings are
more than pocket change.
Data from the U.S. Bureau of Labor
Statistics show that median earnings increase at every level
of education. In 2005, as the chart illustrates, people who
finished high school earned almost $175 more every week
compared with those who dropped out. People who completed an
associate degree program netted more than $100 compared with
high school graduates.
But diplomas and degrees aren’t the only routes to
higher paychecks. Apprenticeships and other types of
long-term on-the-job training also tend to increase
earnings. Many occupations that usually require long-term
training—such as machinist and electrician—also have
median earnings comparable with those of college graduates.