The U.S. Bureau of Labor Statistics reports that in 2010 those with bachelor's degrees earned a median weekly salary of over $1,000 and high school graduates earned just over $600 per week. As education increases, so do median earnings, with those who hold master's degrees earning a median weekly salary of $1,272 per week, and those with doctorates earn more than $1,500 weekly.
Often, workers with several years of experience, but limited education, are unable to get promotions or move into supervisory positions. Many fields require bachelor's degrees for those who work in administrative positions such as program coordinators or managers. This sometimes leaves workers with high school diplomas or less remaining in lower level, or paraprofessional roles with less pay, even when they have more work experience and skills.
A first generation college student who is successful at earning a degree can break the cycle of poverty for a family. For example, the child of two high school dropouts who earns a degree is likely to influence his children to further their education. Since bachelor's degrees increase earning power, this can be the beginning of successive generations of well-educated family members who will be able to obtain well-paying jobs, and less likely to depend on public assistance.
An individual who wishes to become a physician or an attorney must earn a bachelor's degree first. Earning a bachelor's degree positions one to apply for admission to graduate school to earn a master's degree, doctorate or a professional degree such as medicine or law. A person cannot go from an associate degree to a accredited master's or professional degree without earning a bachelor's degree first.