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by pasttense01
1157 days ago
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The claim is "on average, those with college degrees out-earn those without college degrees." No it's not: instead it's the prescriptive advice that high school graduates should go to college. But if you follow up one of the references: "However, when we look at wages for the 25th percentile of college graduates, the picture is not quite so rosy. In fact, there is almost no difference in the wages for this percentile ranking of college graduates and the median wage for high school graduates throughout the entire period. This means that the wages for a sizable share of college graduates below the 25th percentile are actually less than the wages earned by a typical worker with a high school diploma." https://libertystreeteconomics.newyorkfed.org/2014/09/colleg... |
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Why do you think that? The claim in the article was clear: “According to repeated analyses by economists at the Federal Reserve Bank of New York, a four-year degree generates an annual return of 14 percent over a 40-year career.”
There are many many other sources that back up this claim too. I linked to other Fed data above that shows an average ~2x income premium for grads. It’s actually true that college grads, statistically speaking, earn more than non-grads in the U.S.
> there is almost no difference in the wages for this [25th] percentile ranking of college graduates and the median wage for high school graduates throughout the entire period.
This quote ironically and hilariously supports the claim that college grads earn more. It’s comparing the 25th percentile of grads to the 50th percentile of non-grads. Hahaha!