[Update: There is a newer version of this post with updated data from 2010 available here.]
My earlier “Education Pays: Income by Education Level” post receives among the most hits of any I have, but those numbers are now out of date. That post had data from 2004; this one uses the most recent data from 2007 (released in January 2009). Unfortunately, the numbers presented in the previous post were for means and the Census has not (at least at this point) provided the data on means for 2007. As such, the numbers in this post report medians instead. Graphically, the new numbers look like this:
The data come from the U.S. Census and are presented in their annual report: Educational Attainment in the United States: 2007. The press release is here, and data and reports from previous years are available on their educational attainment page located here.
The data in the graph come from Table 3: “Median Earnings for Workers Aged 25 and Over by Educational Attainment, Work Status,Sex, and Race and Hispanic Origin: 2007” in which they report the following results for “Full-Time, Year-Round Workers”:
- Median for all full-time, year-round workers: $41,568
- Not a high school graduate: $24,964
- High school graduate: $32,862
- Some college or associate’s degree: $40,769
- Bachelor’s degree: $56,118
- Advanced degree: $75,140
The report also provides breakdowns in Table 3 for both gender and race/ethnicity for the various educational levels.