We at Economix have been fairly persistent in demonstrating why college is worth it. Say it together, now: you are overwhelmingly likely to earn more.
A new study from the Census Bureau confirms that the more education you get, the better off you are. A worker with a professional degree will receive median annual earnings nearly four times those of a worker with just a high school diploma, for example, and 87 percent higher than those of workers with bachelor’s degrees. (A post by our colleagues at SchoolBook also looks at the findings.)
But though the study concludes that education is the most important determinant of future earnings, the impact of demographic factors is still significant among those with comparable education levels. And even discounting other considerations, the gender gap is striking.
The Census study, by Tiffany A. Julian and Robert A. Kominski, looked at lifetime earnings for a typical worker from 25 to 64, and came up with estimates measured in 2008 dollars.
Among full-time, year-round workers, white men with professional degrees make nearly 49 percent more in lifetime earnings than white women with a comparable education level. The gender gap is narrower for blacks with professional degrees: black men with professional degrees earn 24 percent more in lifetime earnings than their female counterparts.
That gap is still pronounced at the bachelor’s degree level, where white men working full time and year round earn 40 percent more than white women with the same level of education. Black men with bachelor’s degrees earn 13 percent more than black women who also hold bachelor’s degrees.
Hispanic women appeared at the biggest disadvantage. Among those full-time, year-round workers with professional degrees, white men make 104 percent more than Hispanic women over their working lifetimes.
Article source: http://feeds.nytimes.com/click.phdo?i=53980c0caa1e9a48c46f65f8325adcdc
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