ATLANTA — Graduates of the University System of Georgia (USG) in the class of 2021 will earn more than $1 million more in their lifetime than they would without earning a bachelor’s degree, according to a new study.
The study, conducted by Jeff Humphreys, director of the Selig Center for Economic
Growth at the University of Georgia’s Terry College of Business, revealed the
breakdown of what each level of higher education can add to a USG
total earnings of graduates over their lifetime.
“The difference higher education makes in a person’s life is dramatic,” said system chancellor Sonny Perdue. “Whether you’re a high school graduate trying to decide
between going to college or entering the workforce, or you’re mid-career
adult wishing to improve their earning potential by graduating or
adding to your education, this study clearly demonstrates a college degree in
Georgia is a worthwhile investment.
The report showed that revenue increases dramatically at each step of the ladder
of post-secondary education. On average, the study found that each degree
generates additional income over a person’s lifetime by:
· $238,455 for a certificate.
· $377,000 for an associate degree.
· $1,152,500 for a bachelor’s degree.
· 1,399,500 for a master’s degree.
· $2,037,500 for a Ph.D.
Based on the work-life earnings estimates for Georgia, the analysis showed that the 70,641 USG graduates in the Class of 2021 can expect combined total lifetime earnings of $179.
billion dollars, which is $60 billion more than they could have expected to earn had they not gone to college or higher education.
Perdue announced this month at the Board of Regents meeting the creation of a new
website, Georgia degrees paywhere students and their families can glean
comparative information on schools, courses, academic results, costs and the future
The Future Earnings Tool allows users to view post-graduation earnings by major and
institution. It also compares a range of earnings by academic field one, five
and 10 years after graduation.
This story is available through a news partnership with Capitol Beat News Service, a project of the Georgia Press Educational Foundation.