In a report entitled “Education Pays 2013: The Benefits of Higher Education for Individuals and Society,” data shows the value of race, gender, and education level as it pertains to earning potential and societal benefits such as civic involvement, voting, and parent/child involvement.
With relatively little variance, the greatest predictor of individual earning potential is education level. The study found that if an individual has a bachelor’s degree they will, on average, earn between $39,500 and $57,600, a span of $18,100. On the other hand, an individual with less than a high school diploma can expect average annual earnings between $18,300 and $29,200, a span of $10,900.
This is America, and in America, for every rule, there are exceptions. It is possible that a high school drop-out can earn millions while a person with a PhD can find him or herself making $18,300, but the law of averages says that the data presented in the report is most likely the reality most will find themselves.
The data from this report shows that race and gender also hold value as to where an individual might fall within the span of their educational level indicator. Of those, with less than a high school diploma, a Hispanic female is likely to fall at the lowest end of the earning spectrum earning an average of $18,300 annually.