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BAMAPHIN 22
10-26-2006, 10:36 AM
How much is a bachelor's degree worth? About $23,000 a year, the government said in a report released Thursday.

That is the average gap in earnings between adults with bachelor's degrees and those with high school diplomas, according to data from the Census Bureau.

College graduates made an average of $51,554 in 2004, the most recent figures available, compared with $28,645 for adults with a high school diploma. High school dropouts earned an average of $19,169 and those with advanced college degrees made an average of $78,093.

"There appear to be strong incentives to get a college degree, given the gaps that we observe," said Lisa Barrow, senior economist at the Federal Reserve Bank of Chicago.

The income gap narrowed slightly from five years earlier, when college graduates made nearly twice as much as high school graduates. But the differences remained significant for men and women of every racial and ethnic group.

Eighty-five percent of people 25 and older had at least a high school diploma or the equivalent in 2005, according to the Census Bureau's 2005 Current Population Survey. In 2000, 80 percent had a high school diploma or the equivalent, and a little more than half did in 1970.

Twenty-eight percent had at least a bachelor's degree, compared with about 24 percent in 2000 and 11 percent in 1970.

"I think we've done a very good job of getting individuals into college," said Cecilia Rouse, professor of economics and public affairs at Princeton University. "But we don't fully understand why we don't do as good a job of graduating them."

Chester Finn, president of the Thomas B. Fordham Institute in Washington, said too many high school graduates are unprepared to succeed in college.
"If you don't emerge from high school having done at least the equivalent of advanced algebra, you are not going to be ready for college math," Finn said. "You can make similar points about English."

http://www.cnn.com/2006/EDUCATION/10/26/degree.value.ap/index.html

Timmy54
10-26-2006, 12:32 PM
does that mean i have to start paying more if my prostitute finally goes to college like she keeps telling me is the plan. i really dont care, just need to know the rate is all.

Motion
10-26-2006, 12:36 PM
*cough*BS*cough*

Timmy54
10-26-2006, 01:44 PM
i make more money that the guy down at burger king with my degree, does that count.

Stitches
10-26-2006, 01:47 PM
*cough*BS*cough*

Actually, I would say that it sounds correct, since it is using averages. There are obviously exceptions, where degree'd people are making less than those with out, but on the whole I would easily thing people with degrees make that much more.

FinsNYanksFan13
10-26-2006, 01:55 PM
Most serious jobs require you to have a degree nowadays so I definitely think there is some truth to this although let me add that I am not one of those people who thinks you need to have a college degree to do anything with your life or to become rich!

greatwade
10-26-2006, 01:58 PM
*cough*BS*cough*

world needs ditch diggers :tongue: and data miners

Motion
10-26-2006, 01:59 PM
world needs ditch diggers :tongue: and data miners

http://www.finheaven.com/images/imported/2006/11/flyin-1.gif

I have a degree, thanks.

greatwade
10-26-2006, 02:04 PM
http://i53.photobucket.com/albums/g56/motion23/flyin.gif

I have a degree, thanks.

http://www.finheaven.com/clear.gif

How's the foosball team doing this year?

:shakeno:

Timmy54
10-26-2006, 02:08 PM
world need people to post on the internet too, oh wait i have a degree and post here. mom!!!!!

ch19079
10-26-2006, 02:23 PM
its all about averages. and they can be misleading.

my brother (2 years older) dropped out of highschool, got a GED, and now hes making 50k a year as a supervisor.

I, on the other, hand got a BS in geology, but i only make 30k a year because i only have 2 years experience.

it all depends on what jobs people have, and how long they have bene doing it. sure doctors are college grads and make a **** load of money, but that kind of skews the average since you are not going to find many people without a college degree making that kind of money.

many of the "better" and higher paying jobs require a college degree, but its really up to the individual person to get the job, do the work, and earn a paycheck.

Roman529
10-26-2006, 03:32 PM
I have a bachelor's degree and a master's degree, while my twin brother barely graduated from high school. He works for ITT supervising a bunch of tank and humvee mechanics at Camp Doha in Kuwait, and he makes about $120,000 a year, most of it tax free. He makes way more than I do, but he works 15 hours a day, 6 days a week, mainly because he has a wife and kids to support, while I am single and no kids. I think it largely depends on your priorities and what areas you work in. I think an education is great, but if you are just looking to make money you are probably better off learning a trade.

Clumpy
10-26-2006, 03:34 PM
I would have to agree with the premise..........cannot do my job at the hospital without college degree and 4 yr degree make 33-40% more than the 2 yr degrees

MNFINFAN
10-26-2006, 03:50 PM
It depends, I don't have a degree, but I started my own company, sold that and now work for someone else before I start my next one. They only hire graduates but my degree was my business. Though I would have to say in general Doctors and Lawyers all make a **** load of money and you have to have a degree for those professions so that would skew the data upwards towards having a degree.

Stitches
10-26-2006, 04:04 PM
It depends, I don't have a degree, but I started my own company, sold that and now work for someone else before I start my next one. They only hire graduates but my degree was my business. Though I would have to say in general Doctors and Lawyers all make a **** load of money and you have to have a degree for those professions so that would skew the data upwards towards having a degree.

Throwing out the top 10% of people with degrees as well as the bottom 10% of people without, I would still venture to say that the difference would still easily be around $20,000 though.

MNFINFAN
10-26-2006, 04:12 PM
Throwing out the top 10% of people with degrees as well as the bottom 10% of people without, I would still venture to say that the difference would still easily be around $20,000 though.
I am not sure you would get that much. there are an awful lot of self made people without degrees that earn a lot of money. I earn more than anyone in my company and I am the only one without a degree. I am in sales and there are a lot of sales without degrees, especially ones who have been in sales for a decade or more and who earn a 6 figures.

MNFINFAN
10-26-2006, 04:22 PM
I am not sure you would get that much. there are an awful lot of self made people without degrees that earn a lot of money. I earn more than anyone in my company and I am the only one without a degree. I am in sales and there are a lot of sales without degrees, especially ones who have been in sales for a decade or more and who earn a 6 figures.
God what bad English that was, I will elarn to write properly one day.

greatwade
10-26-2006, 04:23 PM
Huizenga didn't graduate college.
Gates dropped out of Harvard
and Buffet dropped out of Wharton.

Doesn't mean you should. Yeah, you don't need a degree to go into sales.
And salesman, on average, have WAY more upside potentional than other service jobs.

Still stay in school kiddies. Forget $$$, don't you want to be teh sma4t?

NJFINSFAN1
10-26-2006, 04:27 PM
I personally think the money they charge for schools is a crime, and the books, don't even get me started!

Motion
10-26-2006, 04:37 PM
http://www.universityofphoenix-online.com/img/logos/uofp_online_form_logo.gif

How's the foosball team doing this year?

:shakeno:

http://www.finheaven.com/clear.gif

Didn't have a foosball team, but I was the Captain of the WoW team.

greatwade
10-26-2006, 04:43 PM
http://i53.photobucket.com/albums/g56/motion23/sarcasmta2.gif

Didn't have a foosball team, but I was the Captain of the WoW team.
I have a button, pinned to a lamp on my night stand, says:

have I wow'd you today?

/realize your WoW is different.
//what's the mascot at U of P?

Stitches
10-26-2006, 04:48 PM
I personally think the money they charge for schools is a crime, and the books, don't even get me started!

Some states like Louisiana all but pay for your education at a public institution if you stay in state. Man I wish I would've stayed living there.

*Frisches drops another 7K to go to school again in the spring*

Slappy8800
10-26-2006, 04:59 PM
23k more a year?....thats a lie

Stitches
10-26-2006, 05:15 PM
23k more a year?....thats a lie

How is it a lie? My Mom and dad are perfect examples. My mom made about 20K more as a teacher(obviously with a degree), than my dad did at his job as a restaurant manager, and teachers are known for notoriously being underpaid.

Also, I would like to note, that I bet the 23K is prior to taxes.

Slappy8800
10-26-2006, 05:20 PM
the average person makes 30K a year i think it is.....i know PLENTY of college grads not making 50K a year....i know plenty not making 35K a year..

Motion
10-26-2006, 05:29 PM
I have a button, pinned to a lamp on my night stand, says:

have I wow'd you today?

/realize your WoW is different.
//what's the mascot at U of P?

Some kinda bird

HolliFinFan
10-26-2006, 05:35 PM
How is it a lie? My Mom and dad are perfect examples. My mom made about 20K more as a teacher(obviously with a degree), than my dad did at his job as a restaurant manager, and teachers are known for notoriously being underpaid.

Also, I would like to note, that I bet the 23K is prior to taxes.

There are ways to make more money teaching, too. For example, I can teach an extra class and make $8,000 a year more. Not to mention tutoring, if you're in a wealthy area. You can't believe what parents will pay for what they could easily do themselves. I'm not saying it's a high paying profession by any means, but there are ways to make more than the contract salary. In Florida (Broward Co. specifically), getting National Board Certification is another $10,000 a year.

lazareth
10-26-2006, 09:51 PM
gates already had a decent trust fund to fall back on had he not been successful though

Stitches
10-27-2006, 12:26 AM
There are ways to make more money teaching, too. For example, I can teach an extra class and make $8,000 a year more. Not to mention tutoring, if you're in a wealthy area. You can't believe what parents will pay for what they could easily do themselves. I'm not saying it's a high paying profession by any means, but there are ways to make more than the contract salary. In Florida (Broward Co. specifically), getting National Board Certification is another $10,000 a year.

Some of the same stuff holds true up here. I was merely pointing out an example where the 23K difference was accurate. I also fully believe that on the whole, that that is a correct average.