Look at this chart before enrolling in college

by Grace

The bottom quarter of earners with a college degree don’t make more money than the average high school graduate. And this hasn’t really changed much in 40 years.

20140908.COCBottomQuarterCollegeGrads1


This chart may explain why “college isn’t for everyone”, but additional considerations are important.

… First, we don’t know for sure how much money this bottom quarter of degree-holding earners would have made without their college education. Furthermore, much of this could boil down to career choice: there are many jobs that require a degree but don’t pay very well. If someone earns a degree for reasons beyond making more money, it could be that the upfront investment is worthwhile regardless.

“On ‘average’, it’s still worth going to college”, but be careful about making personal decisions on the “average” case.

Here’s some good advice:

In the meantime, students who are unsure of what they want to study or do are probably best advised to be very cost-conscious when choosing a college, and to be unafraid to wait until they are sure how they will use their degree before they start to pursue one.

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Chris Matthews, “Why college isn’t for everyone, explained in a single chart”, Fortune, September 5, 2014.

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4 Comments to “Look at this chart before enrolling in college”

  1. I am guessing that choice of major is a big factor here…

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  2. I would agree choice of major counts, and of course students should keep this in mind before deciding how much to spend on their college education.

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  3. todmassa — that looks like good data, sliced and diced in lots of ways. I suspect VA is unusual in providing this information.

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