General Trends

• For the first three quarters of the 20th century, going directly into the work force was common, and large salary gaps were not studied or well known. However, by 1975, full-time workers with a bachelor's degree made 1.5 times higher annual salaries than those who only had a high school diploma. By 1999, the number had risen to 1.8 times more, clearly indicating that an education is the pathway to money.
  
  

High School vs. Associate's Degree

• Even attending college for only two years to earn an associate's degree presents a salary gap with those with only high school degrees. The former group earns approximately $38,200 a year, while the latter earns an average of $30,400 a year. Over the course of a lifetime, the high school graduate will earn about $1.2 million dollars, while the associate's degree holder will earn about $1.6 million.
  
  

High School vs. Bachelor's Degree

• Once students reach the bachelor's degree level, the difference between salaries increases even more. An average annual salary for a person with a bachelor's is $52,220, which is over $20,000 more than the salary for the person with only a high school diploma. Over a lifetime, the difference is even more substantial. Bachelor's degree holders earn approximately $2.1 million, nearly twice the sum of a high school graduate's lifetime earnings.
  
  

High School vs. Master's Degree

• At every level, the salary and lifetime earnings gap increases. Those individuals with a master's degree earn approximately $62,300 a year, more than double that of their high school graduate counterparts. Over a lifetime, the overall earnings for people with a master's degree rises to $2.5 million, which also is more than double the expected lifetime earnings of an individual who has only received a high school diploma.
  
  

Higher Degrees

• Individuals who go on to pursue a doctoral degree can expect to make approximately $89,400 a year and $3.4 million over the course of their lifetimes. If people choose to obtain a professional degree, the gap increases once again. They will make about $109,600 in annual income, over three times the amount of an individual with only a high school degree. Throughout their lives, individuals with professional degrees earn about $4.4 million.