Here’s How Much Your Bachelor’s Degree Is Worth
Written by
Vance Cariaga
Edited by
Amber Barkley
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The value of a college education has come under greater scrutiny as more Americans weigh skyrocketing tuition costs against the potential earnings boost you’ll get from a degree. There’s no doubt college is much more expensive now than it used to be.
But there’s also no doubt that a bachelor’s degree can significantly boost your income — by the tune of more than $1.5 million over the course of a career.
Average Tuition vs Earnings
The average tuition at public four-year institutions rose by more than one-third from 2010 to 2023, according to the Education Data Initiative. It has nearly tripled over the past 62 years, even after adjusting for inflation.
At the same time, your earnings could get a nearly 80% lift by earning a college degree vs. just a high school degree, according to recent research from Academized, an education platform and writing company that explores education and career topics.
Academized analyzed earnings data from the U.S. Bureau of Labor Statistics. Among its findings: Workers with a bachelor’s degree or higher earn $1,697 a week, while those with only a high school diploma earn $946 — a difference of $751.
Spread out over a year, the typical income for someone with a bachelor’s degree equals $88,244, compared with $49,192 for someone with a high school degree. That gap — $39,052 a year — adds up to $1.56 million over the course of a 40-year career.
Separate research from the Association of Public and Land-grant Universities (APLU) showed similar numbers. According to the APLU, typical earnings for bachelor’s degree holders are 86% higher than those with only a high school diploma. Here are some other findings from the APLU:
- Those with only a high school diploma are twice as likely to be unemployed.
- The majority of those with bachelor’s degrees “report financial wellbeing.”
- Those with a bachelor’s degree will earn around $1.2 million more during their career.
Meanwhile, the Academized study also looked into pay disparities involving gender, race and job type. Among its findings:
- Women, on average, earn about 80% of what men earn.
- Management and professional jobs pay the most, while service jobs pay the least.
- Asian men earn the highest wages overall, while Hispanic/Latino women earn the least.
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