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Compare Earning Potential

Introduction
Compare potential salaries earned without graduating high school, with a high school diploma, and with a college degree.

Directions
Read the information below and apply what you learn to answer the questions. Key your answers into the spaces below. After you finish keying, check your work carefully and click Submit.

Education-Influenced Salaries
The earning potential of the average American worker is largely determined by his or her level of education.

No High School Statistically, those who do not complete high school have the least chance to earn a high salary once they enter the workforce. Only positions that require very basic skills and no previous training or skills are realistic for the vast majority of those who do not complete high school. There also tends to be more unemployment for people who do not graduate high school.

High School Diploma Most businesses and employers feel that workers who have a high school diploma or equivalent are generally better prepared and more reliable at their jobs than those who do not.

A high school diploma equivalent is known as the General Education Development (GED) certificate. These are usually available through adult education centers located in most school districts and, now, online.

In both these cases, workers tend to be in a higher range of earnings than those with no diploma or certificate. Also, there is less unemployment in this educational level.

Compare Salaries Examine the following chart taken from information compiled in the 2000 U.S. census (http://www.census.gov/prod/2002pubs/p23-210.pdf). Compare the increase in salary potential based on education level.

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College Degrees Conventional wisdom tells us that an extended education makes a worker more valuable in the business community.

A basic four-year, or bachelor’s, degree appears to result in a substantial payback, compared to a relatively low cost, for the average graduate.

However, a professional degree, which can often take two to four years of additional schooling on top of a bachelor’s, seems to have the biggest reward. This is one reason many people take out large loans to attend medical or law school.

A doctoral degree tends to be a step taken when a student is interested in the subject matter as much, if not more so, than the potential salary. On average, a doctoral graduate is such a specific field without as large of a job pool, that this degree earns less than most professionals (though still far more than those that hold a simple bachelor’s degree). An example of a profession in this category would be a university professor.

Find Information on a Web Site With your teacher’s permission, use a search engine to find out more about education and labor statistics. Visit the Bureau of Labor Statistics (www.bls.gov) or www.salary.com for more information.

1			In terms of salary potential, why do you feel it is important to graduate high school?
2			What is one equivalent to a high school diploma?
3			Based on the chart above, which education level offers the biggest jump in salary potential?
4			Why do some doctoral degrees earn less than some professional degrees?
5			Brainstorm and key some job examples that you feel are possible without a high school diploma, with a high school diploma, and with a college degree.