Formal Education Pays Off
Did you know that according to an employer survey at least 70% of jobs require education and training beyond a high school diploma?* It is very likely that you may be looking into occupations that require more schooling. As you weigh the pros and cons of going to school, think about how education pays. People with an education beyond high school tend to make more money, have more job options and have shorter periods of unemployment.
| Unemployment Rate* | Education Level | Typical Weekly Earnings* |
|---|---|---|
| 12.4% | Less than High School | $471 |
| 8.3% | High School Graduate | $652 |
| 7.7% | Some College, No Degree | $727 |
| 6.2% | Associate Degree | $785 |
| 4.5% | Bachelor's Degree | $1,066 |
| 3.5% | Master's Degree | $1,300 |
| 2.1% | Professional Degree | $1,735 |
| 2.5% | Doctorate | $1,624 |
Source: U.S. Bureau of Labor Statistics, 2012 unemployment and wage data.
- Unemployment rate is percentage of people who lost their jobs and applied for unemployment benefits. This rate is for those age 25 and over.
- Typical weekly earnings is the median wage. This means listing all of the wages from low to high and picking the middle one. The earnings are for year-round, full-time employed workers age 25 and older.
