There has never been a greater disparity between college graduates and high school graduates than there is today. On every level, from financial satsifaction to job satisfaction, college graduates are outperforming.
The Pew Research Survey of 2,002 adults found the average earnings of those with a Bachelor?s degree was $46, 500, compared with a $30,000 annual salary for those with 2 year degrees and $28,000 for high school graduates respectively. Those with Bachelor?s degrees also suffered from lower unemployment with a 3.8% rate compared to 8.1% for those with Associate?s degrees and 12.2% for high school graduates. The research also found that of Millennials with college degrees only 5.8% lived in poverty, whereas, 14.7% of those with Associates and 21.8% of those with high school diplomas lived in poverty.
College graduates are also more likely than those without college degrees to feel that their education was very useful in preparing them for the work world and also said that their education and training helped them to advance in their careers.
In contrast to the positive benefits of a college education, the typical earnings for those with high school diplomas dropped $3,000 from $31, 384 to $28,000 in 2013.
Although college graduates have suffered due to the Great Recession, they are suffering less than their less educated peers. In regards to college major, there was some variance. In summary, those who studied science and engineering verses liberal arts/social sciences and business were more likely to say their job was very closely related to their major (60% verses 43% for business and social science majors). They also regretted their choice of major less –24% compared with those who chose social science 33% and business 28%.
In conclusion, now more than ever a college degree could improve your child/teen?s life. Taking steps to instill the importance of college and early study skills training is necessary to ensure future success.
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