Education & Earnings
While there is widespread concern about student debt and the cost of higher education, data from the U.S. Bureau of Labor Statistics makes a strong case that higher education leads to higher earnings and lower unemployment rates.
In 2022, median annual earnings for a full-time worker with a bachelor’s degree were about $30,000 more than for a worker with only a high school diploma, a difference of more than $1 million over a 35-year career. Even so, it’s important to be realistic about taking on debt in relation to expected earnings, as the job market and potential compensation can vary widely for different fields of study.
Source: U.S. Bureau of Labor Statistics, 2023 (data for ages 25 and older; annual earnings based on usual weekly earnings for full-time wage and salary workers)
Securities offered through Lincoln Investment, Broker/Dealer, Member FINRA / SIPC. www.lincolninvestment.com Advisory Services may be offered through Lincoln Investment, or Capital Analysts, Registered Investment Advisers. Allen Associates and the above firms are independent and non-affiliated. The Lincoln Investment Companies do not provide tax, legal, or social security claiming advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. Diversification or asset allocation do not guarantee a profit or protect against a loss. This communication is strictly intended for individuals residing in the state(s) of NJ. No offers may be made or accepted from any resident outside the specific states referenced.
Prepared by Broadridge Advisor Solutions Copyright 2023.