Your Bachelors Degree May Not be Enough

There has been a large growth in wages for people with advanced degrees over the past 10 years, but the same is not true for those with Bachelors degrees.

The inflation-adjusted wages of people with a bachelor’s degree declined between 2002 and 2012, according to a report from the Economic Policy Institute. Those with advanced degrees had an increase in wages.

A chart made by EPI shows the differences:

Wages

2008 is when the wage gap really increased. EPI’s report found that between 2000 and 2012, the income of workers with only a bachelor’s degree compared to those with only a high school diploma was at a rate of about 4 percent for men and less than one percentage point for women. In comparison, that rate was about 14 percent during the 1980s.

The problem is that graduate degrees cost a lot of money. The programs are very rigorous and don’t allow much time for a part time job. Tuition is much higher as well, and students who already have $50,000 or more in debt might feel hesitant about stacking on more in a poor economy.

While this may seem a bit depressing, a bachelor’s degree is still very valuable. Over the past ten years, workers with a bachelor’s degree’s pay stayed about the same, while those with only a high school diploma saw a drop in pay.

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About DevonJ140
I am currently an Accounting Director living in New York City. I love reading and learning more about business, finance, tech, and current events.

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