How Does Education Affect Income?
Education can change lives — instilling leadership, a life-long work ethic and a global perspective. But it can also change one’s economic circumstances, and the level of income one can earn post-college is perhaps the easiest-to-measure return on investment in education.
It’s long been shown that those who earn college and post-graduate degrees see higher incomes over the course of their careers. But even with higher education in transition, and with the questions raised by MOOCs and other tech-enabled alternatives to a traditional college environment, that hasn’t changed.
In today’s Daily Edventure, we share an infographic from Socrato that looks at US incomes on average, with and without college degrees. (I would venture to guess the trends are similar worldwide.)
It will be interesting to see how these statistics evolve over the next several years, based on changing approaches by universities, and changing perceptions by students about what constitutes a good education. Do you think the traditional workplace advantages for formal college degrees will hold into the 21st century? Let me know @anthonysalcito, and enjoy today’s look at the financial value of education.