Graphs - Benefits of Higher Education

More than ever, more education means more pay.

If you want an income that's above the median, you need at least a bachelor's degree.

 

As Ohio's educational attainment has climbed, so also has per capita income, but there is still room for improvement.

Of the 11.6 million jobs created in the post-recession economy, almost three quarters went to workers with a bachelor's degree or higher.

How well are young college graduates doing in the job market? This quiz from the New York Times reveals a truth about the value of the bachelor's degree.

A bacherlor's degree is an Ohioan's surest path to economic security.

An educated population leads to better outcomes, including better health.

Higher education leadership in both public and nonprofit sectors believe their students are prepared for life after graduation.

 

A better educated citizenry takes part more fully in the nation's civic life.

 

Independent colleges and universities are an essential component of preparation for fruitful employment.

The learning that occurs in liberal arts colleges remains extremely valuable in the employment marketplace.

Ohio's "Top 50" jobs have above-average annual earnings, growth rates faster than the statewide average, and are expected to stay in demand. Of these good jobs worth having, nearly three quarters of the projected annual openings require a college degree, and more than half at least a bachelor's, which only a quarter of the state's adults hold.

 

Despite the challenges facing today's college graduates, the value of a college degree has remained near its all-time high, while the time required to recoup the costs of the degree has remained near its all-time low.

Graph and quotation from Abel and Deitz, "The Value of a College Degre," on the Liberty Street Economics weblog published by the Federal Reserve Bank of New York.

The entire article is available here.

 

Finishing a bachelor's degree on time yields an immediate payoff.

 

Independent colleges inculcate values as well as knowledge.

 

Even in a recession, a college education is the best preparation for the labor market.

 

As marriage rates in the U.S. drop, those with college degrees are more likely to have spouses.

 

The better educated a child's parents are (especially a boy's) the more likely the child is to be positive about his or her education.

 

Completing your own degree correlates with the rigor of your childrens' K-12 education program.

 

Meeting the demand of Ohio's future labor market requires investment in students completing their degrees today.

 

A focus on higher education goals serves the interests of both the state and its citizens.

 

Another benefit of a better-educated citizenry is behavior correlated with better health.

 

More than half of the growth in jobs in the coming decade will require at least a bachelor's degree.

See the whole study, "Help Wanted: Projections of Jobs and Education Requirements Through 2018."

 

Employers increasingly see the bachelor's degree as a key criterion when seeking new employees.

 

The independent sector provides more than its share of recent graduates to a distinguished group of seminal public servants.

 

The benefit of higher education to our society is far more than merely economic.

 

American increasingly recognize that college education is essential to success.

 

In 20 years, the value added to the paycheck by having a bachelor's degree over a high school diploma has increased more than 25 cents on the dollar.

 

Not only does completing a bachelor's degree mean more time at work, but propotionately more income. For every dollar earned by a bachelor's degree holder, an associate degree holder earns just 69 cents.