The Simple Reason Why It's Still Important To Get A College Degree

Millennials will benefit more from a college degree than any previous generation, according to a new report from Pew Research.

On average, Millennial college graduates earn over $US17,000 more than peers with only a high school diploma, among other major benefits. “On virtually every measure of economic well-being and career attainment — from personal earnings to job satisfaction to the share employed full time — young college graduates are outperforming their peers with less education,” Pew found.

Here’s a good way to understand the shift over the past several generations, via the Los Angeles Times:

In percentage terms, millennial workers with only a high school education earned 61.5% of the annual income of similarly aged adults with a bachelor’s degree. By comparison, for early boomers a high school graduate’s pay was 77% that of a college graduate, and for Generation Xers it was 64%.

Here’s a great chart showing this change below and see more at Pew Research:

Rising Earnings Disparity Between Young Adults with And Without a College Degree

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.