* Field of study: A person with a degree in engineering or medicine will likely earn more than someone with a degree in the humanities, even if both have the same level of education.
* Occupation: The type of job significantly impacts income. A skilled tradesperson might earn more than someone with a bachelor's degree in a low-paying field.
* Experience: Years of experience in a field significantly impact earnings, regardless of education level.
* Network and social capital: Connections and networking opportunities influence career advancement and income.
* Discrimination: Gender, race, and other factors can lead to wage disparities even with equal education levels.
* Economic conditions: Overall economic health and job market conditions influence income regardless of education.
In summary, while education is a strong predictor of higher income, it's not the sole determinant. Many other factors contribute to an individual's earning potential.