Posted by Maica Pichler on July 11, 2017 at 1:08 PM
With the cost of higher education growing exponentially, a bachelor’s degree is no longer a requirement for many. Most young adults are being taught to view college as an investment in their future. While many programs exist to help lower and even negate the overwhelming cost of college, a college education still costs a substantial amount.
A public four year university averages just over $25,000 a year where many private colleges can soar to well over $40,000 a year. The decision to pursue higher education is no longer just the cost. How much student loan debt will students accrue? How much money will they have to make while attending? Have their parents been investing over the past 10-20 years for their education?
All of these questions can help students decide whether college is the right choice for them. Once students decided college is for them, the next step is to find how to get the best return on their investment. The major a student chooses certainly matters, but so does the state they work in post graduation.
The infographic, shown below, shows the difference in income in each state between high school graduates and employees that have their bachelor’s degree. The more densely populated areas such as Washington D.C., California, and Texas have the largest gaps between high school and college graduate earners. Washington D.C. and California both average over 100% higher pay for workers with a bachelor’s degree than those with just a high school diploma.
States that don’t have large metropolitan areas such as North Dakota, Wyoming and Vermont are among the lowest on the list. Having a bachelor’s degree in these states will only grant employees about a 40% higher pay than fellow employees fresh out of high school.
Where does your state land on the list? Check out the infographic below or check it out on Investment Zen to find the true value of a bachelor’s degree.
