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Salary vs. Degrees

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As you grow in your career, obtaining a college degree becomes even more crucial. According to the U.S. Department of Labor, all seven of the job categories that are predicted to grow faster than average during the next decade require a college diploma. These careers, which include teaching, healthcare and technology, will account for 42 percent of the nation's projected job growth by 2013.

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Randford University recently announced its Master of Science degree program in Telecommunications. This degree is awarded
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Salary Increases vs. Degrees Earned

The survey was based on employed, salaried technologists across different disciplines as it relates to the increases in salaries vs. the degrees held. It does not include bonuses, employee benefits, or other perquisites. The purpose of the survey is to provide a yardstick for those interested in assessing their compensation. The survey did focus on higher-end skills, but the percentage of increase was similar across even non-technical careers. The survey also is based on U.S. salaries which are considered the standard for the industry.

Years Experience
No Degree
Associates
Bachelors
Masters
0-2

$33,500

$43,500

$52,400

$64,500

3-5

$40,200

$52,200

$61,400

$66,900

6-9

$50,200

$61,000

$72,300

$78,900

10-14

$57,100

$72,100

$79,200

$86,700

15-20

$63,600

$78,600

$85,900

$93,400


U.S. Census Survey

Adults with a bachelor’s degree earned an average of $51,554 in 2004, while those with a high school diploma earned $28,645. Advanced-degree holders made an average of $78,093, while those without a high school diploma earned an average of $19,169.

 

Other highlights from the tables:

  • In 2005, 85 percent of all adults 25 years or older reported they had completed at least high school. More than one-quarter (28 percent) had attained at least a bachelor's degree.
  • High school graduation rates for women (ages 25 years and older) continued to exceed those of men, 85.4 percent and 84.9 percent, respectively. On the other hand, men had a greater proportion of the population with a bachelor's degree or higher (28.9 percent compared with 26.5 percent of women).
  • Non-Hispanic whites had the highest proportion of adults with a high school diploma or higher (90 percent), followed by Asians (88 percent), blacks (81 percent) and Hispanics (59 percent).
  • Utah, Minnesota, Montana, New Hampshire and Alaska continued to have the highest proportions of people 25 years and older with a high school diploma or higher (around 92 percent).
  • The District of Columbia had the highest proportion of people 25 years and older with a bachelor’s degree or higher (47 percent), followed closely by Connecticut, Massachusetts, Maryland and New Jersey.

The data are from the 2005 Current Population Survey’s (CPS) Annual Social and Economic Supplement (ASEC). The ASEC is conducted in February, March and April at about 100,000 addresses nationwide.

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