Workers with a bachelor's degree earn more in Michigan
Individuals with a bachelor's degree earn nearly twice as much as those with only a high school diploma and 50 percent more than individuals who have some college or an associate's degree. A bachelor's degree matters for earnings and Michigan's economy.
Earning a bachelor's degree is associated with higher earnings, economic security, health, and other positive outcomes. But how much greater is the typical income for those with a bachelor's degree compared to those who do not have one in Michigan?
Data from the American Community Survey (2016) highlights the dramatic difference in earnings for workers who have at least a bachelor's degree and those who do not.
In 2016, the median income for a worker with a bachelor's degree was nearly $51,000. This is almost twice as much compared to a worker with only a high school diploma. Compared to workers who have some college credits or an associate's degree, those with a bachelor's degree earn about 50 percent more.
Workers with a bachelor's degree earn more, have more disposable income to put back into the economy, and pay more in taxes.