On average, college graduates earn more money than those with only a high school diploma. According to the U.S. Bureau of Labor Statistics, the median annual wage for workers with a bachelor's degree was $65,660 in May 2020, while the median annual wage for workers with only a high school diploma was $53,380.
Fewer job opportunities
College graduates have access to a wider range of job opportunities than those with only a high school diploma. This is because many jobs require a college degree, such as those in the fields of engineering, law, medicine, and business.
Increased likelihood of unemployment
Workers with only a high school diploma are more likely to be unemployed than those with a college degree. According to the U.S. Bureau of Labor Statistics, the unemployment rate for workers with a high school diploma was 6.7% in May 2020, while the unemployment rate for workers with a bachelor's degree was 3.7%.
Greater difficulty paying off debt
College graduates often have to take on debt to pay for their education. This debt can be a burden, making it difficult to save money, buy a home, or start a family.
Lower quality of life
College graduates tend to have a higher quality of life than those with only a high school diploma. This is because they are more likely to have good jobs, earn higher salaries, and live in better neighborhoods.
Of course, there are some exceptions to these rules. Some people with only a high school diploma are able to achieve great success, while some college graduates struggle to find jobs or pay off their debt. However, the overall trend is clear: people with a college education have more opportunities and earn more money than those without one.