In the third quarter of 2019, a clear economic divide was highlighted by data on weekly earnings across different education levels. For full-time workers aged 25 and older, the median weekly earnings stood at $975. However, a significant disparity emerges when comparing those with advanced degrees to those who did not complete high school. This article breaks down the earnings landscape, focusing on the critical differences between undergraduate, graduate, and high school dropout earnings.
The data reveals a compelling narrative about the economic impact of education. Individuals holding an advanced degree (master’s, professional, or doctoral) reported median weekly earnings of $1,559. In stark contrast, those without a high school diploma earned a median of just $606 per week. This figure underscores the considerable financial challenges faced by high school dropouts in today’s job market.
For those with a bachelor’s degree, the median weekly earnings were $1,281. While less than advanced degree holders, this still represents a substantial increase compared to individuals with lower educational attainment. High school graduates without any college experience earned a median of $749 per week, and those with some college or an associate degree reported $874. These figures clearly illustrate a progressive increase in earnings potential with each level of educational achievement.
Examining the broader trends over two decades, from the first quarter of 2000 to the third quarter of 2019, reinforces the persistent earnings gap. While median weekly earnings for all educational levels have increased over time, the relative positions of each group have remained consistent. High school dropouts consistently earn significantly less than all other educational groups, while those with bachelor’s and advanced degrees maintain their positions at the higher end of the earnings spectrum.
In the third quarter of 2019, workers without a high school diploma earned only 62 percent of the median earnings for all workers. This ratio has fluctuated slightly over the years, but the fundamental disadvantage remains. Conversely, workers with a bachelor’s degree earned 131 percent of the all-worker median, and those with advanced degrees reached 160 percent. These percentages underscore the substantial financial return associated with pursuing higher education, particularly when comparing undergraduate and graduate degree holders to high school dropouts.
The data unequivocally demonstrates that educational attainment is a powerful determinant of earning potential. While undergraduate degrees significantly boost earning power compared to a high school diploma alone, graduate degrees offer an even greater financial advantage. For individuals considering their educational and career paths, these statistics serve as a crucial reminder of the long-term economic benefits associated with pursuing higher education and the significant financial challenges that may be faced by high school dropouts.
Source: Data derived from the Bureau of Labor Statistics Current Population Survey, 2019.
