You’ve heard stories about people who never finished college becoming incredibly successful. Bill Gates dropped out of Harvard, and now he’s considered the wealthiest man in the world. Simon Cowell from American Idol dropped out of school when he was sixteen. Hip-hop music pioneer Russell Simmons dropped out of City College of New York. Yes, some people can succeed without college.

 

But unless you have an amazing new invention or product idea, you’re going to be applying for a job. Hopefully you’ll enter a career field that you love, but you’ll probably be starting at an entry level. As you begin your career search, you may wonder whether college-level training can make a difference in your earning power.  

 

Fortunately, the U.S. government has asked the same question, and found some answers. Here are some statistics from a U.S. Census Bureau report that provides information about mean annual wages as a function of educational level for persons over the age of 18:*

 

• Master’s degree = average earnings of $70,358 per year.

• Bachelor’s degree = average earnings of $56,788 per year.

 

• Associate degree = average earnings of $39,724 per year.

 

• High school diploma or GED = average earnings of $31,071 per year.

 

• Some high school but not graduated = average earnings of $20,901 per year.

 

These are significant differences! Individual success varies—there are plenty of high school grads who make good money—but in general, the higher your education, the higher is your earning power.

 

Here’s what U.S. Census Bureau Director Louis Kincannon said recently about the value of a college degree: “College seniors in this country should feel confident of their economic future. College graduates may expect to earn, on average, nearly $2.1 million in their lifetimes. That is nearly twice as much as those who have only high school diplomas.”**

 

A lot of Americans have college degrees. According to the U.S. Census Bureau, in 2003 26.5 percent of adult Americans had completed a bachelor’s degree. In the same year, 83.6 percent had completed high school or earned a GED.***

 

When you apply for that dream job, you know that you won’t be the only applicant. In fact, for every job opening, there may be dozens or even hundreds of applicants. But think about this: someone has to get the job. That someone might as well be you! And you’ll increase your chances of getting hired—and starting on a rewarding new career—if you have attained the appropriate educational level. Check out the many education opportunities on EducationForCareers.com, and put your career training into high gear.