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How Much Can You Earn at Each Level of Education?

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The decision to continue your education is one you don’t take lightly. After all, you must consider many factors, including your area of study, how you’ll find time for classes, and how well your degree will support your career and earning potential.  Fortunately, once you decide to pursue a degree, you’ll have the chance to realize its many benefits, including potentially higher earnings. Whether you’re considering pursuing a bachelor’s degree or continuing your studies with a master’s degree, advancing your education can prepare you for various new roles, many of which come with higher salaries.  Want to know just how much you could earn with your degree? Check out the average salary by level of education in our infographic.  What Is the Average High School Graduate Salary? $42,068  From an earnings standpoint, high school is just the beginning. With an associate’s degree, BLS figures show that median earnings rise to $963 per week, or $50,076 annually. Getting an associate’s degree not only provides a strong foundation for a range of career paths, but also serves as an introductory step to achieving a bachelor’s degree.  What is the average salary with a bachelor’s degree? $69,368  These days, with many online degree options, a bachelor’s degree is more within reach than ever before. Whether you pursue a bachelor’s degree directly after high school or through an associate’s degree, the average college graduate salary has much to offer. According to the BLS, the 2021 median weekly salary for all individuals aged 25 and older with a bachelor’s degree was $1,334 per week, or $69,368 per year.  For the newest bachelor’s degree graduates, salaries are also higher than those with a high school diploma or associate’s degree. According to the National Association of Colleges and Employers (NACE), the average salary for the class of 2021 bachelor’s degree graduates was $55,911.  What is the average salary with a master’s degree? $81,848  Taking your education to the graduate level not only provides you with deeper study and research opportunities in your area of concentration, but also boosts your earning potential. According to BLS figures, the 2021 median weekly salary for individuals with a master’s degree was $1,574 per week, or $81,848 annually.  It’s also important to note that there are many kinds of master’s degrees, each offering varied earning potential depending on your career path. For example, having a Master of Business Administration (MBA) can result in earnings that are double that of individuals with bachelor’s degrees. According to the Graduate Management Admission Council (GMAC), the median base salary for MBA graduates in 2021 was $115,000.  What is the average salary with a doctoral degree? $99,268  Doctoral degrees represent the highest level of formal education for most areas of study. In addition to providing opportunities to conduct original research in your field, doctoral degrees can lead to higher salaries than master’s degrees—$1,909 per week, or $99,268 per year, according to the BLS.  Higher education levels result in higher lifetime earnings  In addition to helping you earn more in your next position, the income benefits of pursuing a bachelor’s or master’s degree add up through the years. According to the U.S. Social Security Administration (SSA), lifetime earnings are higher for college graduates. For example, the SSA found that, on average, adults with graduate degrees earn $1.3 million more in lifetime earnings than high school graduates.  Select the degree program that works for you.  Given the average college graduate salary, pursuing a bachelor’s or master’s degree makes a lot of sense. You not only learn more, but also earn more! Even if work and life keep you busy, obtaining a new degree is within reach.  Mount Vernon Nazarene University (MVNU) offers a range of online degree programs at the undergraduate and graduate levels to help you build knowledge and increase your earning potential. With flexible scheduling that fits your needs, our online degree programs help you reach your educational goals.  To learn more about MVNU Online’s degree programs, speak with an Enrollment Specialist and take the next step in your educational journey.

To learn more about MVNU Online’s degree programsspeak with an Enrollment Specialist and take the next step in your educational as a PDF