Education And Earnings
Education and Earnings
Your Future:
A Comparison between Education and Earnings
Have you ever considered the cost of a higher education? What about the benefits of such an education? These are things that should be considered by anyone who wishes to further himself. There are many reasons to consider pursuing a higher education, especially today. In writing this paper, I intend to prove that while the pursuit of a higher education may be costly, a degree will increase one’s earnings.
According to the Bureau of Labor Statistics (2008), someone who does not finish high school will be much more likely to face unemployment in the future. This person will also be more likely to earn barely enough to get by.
Information from McHenry County College’s website shows us quite clearly the relationship between a college degree and our salary range. For instance, in the early 1900’s, Americans rarely graduated from high school. That changed by the 1970’s, however. By that time, those who had earned a Bachelor’s degree had earnings one and a half times that of those who earned only a high school diploma. By 1999, the difference was even greater.
With the increase in educational opportunities, we have found that education is the best way to achieve our goals. In today’s employment arena, employers are using diplomas and degrees as a way to screen applicants. Many times, if an applicant has no diploma, he will not be hired. This is true even in a menial labor force. The very least one needs is a General Equivalency Diploma, or GED.
The following chart shows quite clearly the difference in earning potential for the different levels of education received:
Average yearly earning based on education level
Source: U.S. Census Bureau
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