Simply knowing how to read and write will affect your income, whether you hold a degree or not. According to author Irwin S. Kirsch, more than 40 percent of adults in the lowest level of literacy live in poverty.
Holding a high school degree will give you a financial advantage in the future. In 2005, the average high school dropout was making $17,299 annually. Compare this to someone with a high school degree who earned $26,933.
Getting an associate's degree or a certificate from a technical school will consume less of your time and offer more flexible scheduling. While the education will certainly improve your future earnings, the primary financial advantage will be the ease of finding a position after graduation and the high job security you will enjoy.
Obtaining a bachelor's degree will give your income the most significant jump. The average full-time worker with this degree made $52,200 annually in 2000. This is double the income of someone with only a high school diploma.
Pursuing your education even longer will open up higher job opportunities for you, and help you earn more money. In 2000, the average salary of a person with a master's degree was $62,300. A doctorate degree earned even more, with an average of $89,400.