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Earnings & Education Level

What you can expect to earn annually and over the course of a lifetime depends heavily

on your level of education.1

Mean 2012 and Lifetime Earnings by Level of Education

Earners Age 25 and Over

Level of Education Mean Annual

Earnings

Mean Lifetime

Earnings2

Doctorate $115,854 $ 4,634,160

Professional3 139,735 5,589,400

Master’s 77,230 3,089,200

Bachelor’s 63,022 2,520,880

Associate 42,333 1,693,320

Some college, no degree 41,350 1,654,000

High school graduate 35,589 1,423,560

Not a high school graduate 24,718 988,720

Source: U.S. Census Bureau Current Population Survey, “Annual Social and Economic

Supplement,” March 2013 (Table PINC-03, Educational Attainment—People 25 Years

Old and Over, by Total Money Earnings in 2012, Work Experience in 2012, Age, Race,

Hispanic Origin, and Sex

http://www.census.gov/hhes/www/cpstables/032013/perinc/pinc03_000.htm, retrieved

1/6/14).

1 For some occupational groups, level of education achieved is not as important and it is possible for less-

educated workers to earn more than more-educated workers when comparing across different occupations.

For an in-depth analysis of such patterns, see the report The College Payoff: Education, Occupations,

Lifetime Earnings. 2 “Lifetime” earnings are calculated by simply multiplying annual earnings by 40 years, the typical career

earnings time frame. No adjustments are made for inflation/cost of living, career promotions, etc. All

figures are in current (2012) dollars. 3 “Professional” occupations include medical doctors, dentists, lawyers, and comparable professions.