Wage Advantage for College-Educated Millennials

February 12, 2014

Young adults with college degrees enjoy a significant economic edge over their peers who lack one, according to a study published Tuesday by the Pew Research Center. The study, "The Rising Cost of Not Going to College," mines Census and survey data to compare today's 25- to 32-year-olds with their peers in previous generations. It finds that full-time workers in that cohort with a bachelor's degree earned an average of $17,500 more than their peers with only a high school diploma, and that that difference is bigger than it was comparably situated adults in Generation X and Baby Boomers. That's true even though a larger share of today's 25-to-32-year-olds (34 percent) has bachelor's degrees than was true in the previous generations.

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