Tiered America by The Globalist

What's the value of an education?

Globalist Factsheet > Global Education Tiered America
By The Globalist \| Thursday, February 08, 2007

In the United States, those with higher degrees enjoy a widening pay advantage over those with less education. According to the U.S. Census Bureau, wages have increased for the very well educated — while they have either stagnated or decreased for those with less formal education. We take a closer look at the growing wage discrepancy in the United States.

Those who did not complete secondary education earned an average wage in 2005 of $22,374 and represent a 9.9% share of total employment. Their wages decreased 4.6% from 2000 to 2005.

Those who completed secondary education earned an average wage in 2005 of $31,665 and represent a 29.8% share of total employment. Their wages increased 0.2% from 2000 to 2005.

Those with some college education earned an average salary of $38,009 in 2005 and represent 27.9% of total employment. Their wages decreased 2.5% from 2000 to 2005.

College graduates earned an average wage of $56,740 in 2005 and represent 21.1% of total employment. Their wages decreased 3.1% from 2000 to 2005.

Those holding a master's degree earned an average wage of $68,302 in 2005 and represent 7.9% of total employment. Their wages decreased 1.8% from 2000 to 2005.

Those with a Ph.D. earned an average wage of $93,593 in 2005 and represent a 1.5% share of total employment. Their wages increased 2.9% from 2000 to 2005.

Those holding an MBA, JD or MD earned an average wage of $119,343 in 2005 and represent a 1.9% share of total employment. Their wages increased 10.6% from 2000 to 2005.

Editor's note: Adapted from a report published by the Current Population Survey, a joint effort of the U.S. Census Bureau and the U.S. Bureau of Labor Statistics.

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