Differences in Wages of a Bachelor's Vs. a Master's
There are those who would question the value of continuing your studies to an advanced level. But the truth of the matter is, as well as expanding your knowledge and equipping you with new skills, a higher degree will enhance your future earnings. Just as those who hold a bachelor's degree will earn more than their peers who only hold a high school diploma, a master's degree will, statistically at least, dramatically increase your salary.
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National Center for Education Statistics
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According to figures published by the National Center for Education Statistics in its "The Condition of Education 2011" report, young adults between ages 25 and 34 with a bachelor's degree earned a median average salary of $45,000 in 2009. Their better educated contemporaries who had studied at master's level earned $60,000 over the same period, some $15,000 or 33 percent more.
Bureau of Labor Statistics
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In its regular snapshot of the nation's weekly median earnings, the Bureau of Labor Statistics found that full-time workers over age 25 with a bachelor's degree took home an average of $1,043 a week in the second quarter of 2011. Those with an advanced degree made a weekly wage of $1,344 over the same period.
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History
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The earnings gap between those workers over age 25 with a bachelor's degree and those with a master's degree widened between 2001 and 2011, according to Bureau data. A worker with a bachelor's degree earned $216 a week more than a master's holder in the second quarter of 2001. This figure increased to $301 in the second quarter of 2011.
Comparison
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A worker between 25 and 34 without a high school diploma earned $21,000 in 2009, while a high school graduate took home an average of $30,000 over the same period, according to the National Center for Education Statistics.
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