Those holding bachelor’s degrees earn about $2.27 million over their lifetime, while those with master’s, doctoral, and professional degrees earn $2.67 million, $3.25 million, and $3.65 million, respectively. That said, the major and industry a student selects ultimately have an enormous impact on lifetime earnings. Those with bachelor’s degrees who work either in management or science, technology, engineering, and mathematics (STEM) earn more, on average, than people with advanced degrees of any level who work in fields like education, sales, and community service.
Those with bachelor’s degrees, no matter the field, earn vastly more than counterparts with some college ($1.55 million in lifetime earnings) or a high school diploma ($1.30 million lifetime), indicating that no matter the level of attainment or the field of study, simply earning a four-year degree is often integral to financial success later in life.
Posted in: Financial Questions