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The Business Journals On Numbers
The Business Journals On Numbers
Earnings widen between college and high school-only grads
Colleges and universities are being graded based on the return on investment they provide to students, with that being determined by comparing how much the average graduate earns versus how much they paid in tuition and other fees to get their degree. Enlarge Photo
College graduates now earn average of 85 percent more than those not attending college.
There is a clear correlation between a person's educational attainment and his or her earning power.
And that link is growing stronger by the year, as shown by a series of U.S. Census Bureau reports since 1975:
Adults with bachelor's degrees in the late 1970s earned 55 percent more than adults who had not advanced beyond high school. That gap grew to 75 percent by 1990 -- and is now at 85 percent.
The margin is smaller, though still sizable, when adults with bachelor's degrees are compared to counterparts who hold advanced degrees. The latter earned 35 percent more during the late 1970s, a difference that has expanded to 45 percent today.
These disparities in earning power fluctuate from state to state, according to an analysis of newly released data from the U.S. Census Bureau's 2011 American Community Survey.
The District of Columbia has the widest gap between adults whose highest educational achievement was a high school diplomas and those who received bachelor's degrees. (D.C. is considered a state for statistical purposes.)
The typical District of Columbia adult with a bachelor's degree earned $60,955 last year. That's 99 percent more than the median for residents who left class after picking up their high school diplomas, $30,579.
Corresponding figures for all states can be found in the database below. Click any column header to re-sort the list. Click a second time to reverse the sort.
The gap between advanced college degrees and bachelor's degrees is broadest in Utah, 47 percent. The median earnings for Utah residents are $63,502 for those with graduate or professional degrees, compared to $43,160 for those who didn't advance beyond bachelor's degrees.
On Numbers posted state-by-state data on educational attainment yesterday, with Wyoming having the nation's highest percentage of high school graduates and D.C. holding the same distinction for adults with bachelor's degrees.
EARNINGS AND EDUCATIONAL ATTAINMENT (2011)
http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2012/12/grads-earn-85-more-than-those-without.html?page=all
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UC Davis Economics Professor: There Is No American Dream
November 26, 2014 11:44 PM
DAVIS (CBS13) A UC Davis economics professor has determined there is no American Dream.
Gregory Clark is sharing his research as a hard t***h with no hopewhether or not you can get ahead in America is as predictable as any formula.
In fact, he says, the formulas for social mobility in the United States show theres nothing to dream about.
America has no higher rate of social mobility than medieval England, Or pre-industrial Sweden, he said. Thats the most difficult part of talking about social mobility is because it is shattering people s dreams.
Clark crunched the numbers in the U.S. from the past 100 years. His data shows the so-called American Dreamwhere hard work leads to more opportunitiesis an illusion in the United States, and that social mobility here is no different than in the rest of the world.
The status of your children, your grandchildren, your great grandchildren your great-great grandchildren will be quite closely related to your average status now, he said.
UC Davis students dismissed the findings.
The parents wealth has an effect on ones life but its not the ultimate deciding factor, Andy Kim said.
Clark has heard the naysayers before.
My students always argue with me, but I think the thing they find very hard to accept, is the idea that much of their lives can be predicted from their lineage and their ancestry, he said.
Stuck in a social status is no American DreamClark says its the American reality.
The good news is that this is coming from an economist, because economists are used to being unpopular, and so we are the right people to bear this message that the world is a limiting place, he said.