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Earning Potential Increases with Higher Education
A recently released report from the Census Bureau Report came out with some pretty staggering numbers. According to the report, average lifetime earnings (money earned during the entirety of one's working life) for a person with a high school education working full-time, year-round will earn approximately $1.2 million ($1 million for those who fail to earn a high school diploma). Compare that to $2.1 million for an individual with a four-year college degree and you start to see the advantage of an education. The figure is highest for full-time, year-round workers with professional degrees, such as a law degree, medical degree, or business degree, with lifetime earning reaching an average of $4.4 million. Those with a doctorate average $3.4 million in lifetime earnings.
These figures precede the current economic woes, but the fact remains: more education means more money. Add to this the fact that economic downturns tend to hit lower-income people the hardest as lower-paying jobs are typically cut at a faster rate than management positions.
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| Testimonial |
 Howard Schmidt graduated in 1991 from University of Phoenix with a Bachelor of Science in Business Administration. Schmidt kept the educational momentum going and promptly headed for his Master of Arts in Organizational Management which he attained in 1993.
“Most of my time up until graduate school was in government, and I’d reached the highest I could go without additional education,” says Schmidt, who served in the U.S. Air Force for 16 years prior to joining the Chandler Police Department. “University of Phoenix gave me the chance to develop skills for executive management.”
Schmidt is the former presidential Internet security advisor to President George W. Bush. He is currently serving as Vice President and Chief Information Security Officer for eBay, the San Jose, California-based online auction site.
-Howard Schmidt |
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