Career Intensity by David V. Lorenzo, Business Coach and Advisor

November 29, 2006

Education Makes a Difference

Posted by Dave Lorenzo - Business Coach

One of the ways to maximize your value in the Individual Economy is to get an advanced degree. Free Money Finance has a great post on this topic today. Here is the money quote:

“The Bogleheads’ Guide to Investing includes a chart that lists expected lifetime earnings per education level. The chart lists various education level and what people at those education levels can expect to earn throughout their lives (according to the U.S. Census Bureau.) The results:

Some high school, no diploma - $1,000,000
High school diploma or equivalent - $1,200,000
Some college, no degree - $1,500,000
Associate degree - $1,600,000
Bachelor’s degree - $2,100,000
Master’s degree - $2,500,000
Doctoral degree - $3,400,000
Professional degree - $4,400,000

Just to be clear, here’s how Wikipedia defines professional degrees:

In the United States and Canada, professional degrees refer to academic degrees that are specific to a particular vocation or profession. Law school (JD or LLB), medical school (MD and DO), engineering school (BSc. or BASc. in Engineering, BEng., MEng., and DEng.), dental school (DDS and DMD), veterinary school (DVM), business school (MBA), physical therapy school (DPT), pharmacy school (BSc. in Pharmacy and Pharm.D.), schools of social work (MSW), art school (MFA), seminary (M.Div.), and architecture school (MArch) are examples of institutions where professional degrees can be earned.”

At the end of the day, getting an advanced degree pays off if you leverage the education you receive. Just like everything else in life, education is what you make of it.

Thanks once again to FMF for the info.

Filed under: Individual Economy
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