A high school diploma opens up more career options, which can increase your lifetime earning power. The Bureau of Labor Statistics' study of median annual earnings of people over the age of 25 confirms this fact. According to 2012 data, high school graduates have median annual earnings of $33,904. High school dropouts fare worse, with median annual earnings of only $24,492. Assuming 47 years of work from the ages of 18 to 65, these numbers mean that high school graduates make about $442,364 more over their lifetimes than high school dropouts.
High school graduates have more job opportunities, so they have more money-making options. Administrative jobs, jobs in civil service and similar professional jobs often require a high school diploma. Because dropouts have fewer job opportunities, they also have higher unemployment rates. The Bureau of Labor Statistics reported in 2012 that graduates have an unemployment rate of 8.3 percent, while dropouts are unemployed at the higher rate of 12.4 percent.
Another way to measure the earning power of a high school diploma is to look at household wealth. Wealth examines the assets a person has -- such as a car or home -- and then subtracts debts such as credit cards or car payments. According to data from the Alliance for Excellence in Education, high school graduates surveyed had higher household wealth at $5,000, while high school dropouts' household wealth averaged only $500.
High school dropouts can increase their opportunities by getting a GED diploma, which increases job eligibility. But the U.S. Census Bureau reports that people with a GED diploma earn less than those who graduated high school. In a survey, the U.S. Census Bureau found that people with only a GED diploma had median monthly earnings of $2,922, while people with only a high school diploma had median earnings of $3,222.