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16 October, 14:38

You are a male who just graduated from college with a bachelor's degree. You have a job paying

$50,780.00/yr.

a. How does your salary compare to the yearly median earnings for a male with a bachelor's degree?

b. What is the difference between the yearly median earnings for a male with a bachelor's degree

compared to a male who does not attend college after earning a high school diploma?

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Answers (1)
  1. 16 October, 14:45
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    a. How does your salary compare to the yearly median earnings for a male with a bachelor's degree?

    It is lower and depending depending on where you get the information, it can be very low.

    According to the Bureau of labor Statistics, the median earnings for people with bachelor's degrees is $60,996 or $$1,173 per week (for 2017). Official statistics do not differentiate between gender.

    Depending on the source you use, that number varies from $54,000 to $87,000. Since the information varies a lot, you should always choose the official source because it should be more exact.

    b. What is the difference between the yearly median earnings for a male with a bachelor's degree

    If we use the BLS data, the difference = $60,996 - $50,780 = $10,216

    A person who only has a bachelor's degree earns on average $712 per week or $37,024, which is $13,756 less than the offer made to you.

    Step-by-step explanation:

    You also need to consider another very important factor, the statistics do not differentiate between recent college graduates and more experienced workers. Some researchers state that recent college graduates earn on average $51,000 which is basically the same. The problem with data from nonofficial sources is that they are based on relatively small surveys that are not carried out nationwide.

    Some nonofficial studies state that males with bachelors degrees earn as much as $87,000 per year while females earn only $63,000 per year (e. g. Georgetown University Center on Education and the Workforce). But those numbers do not match the official records, since the average salary would be much higher than the registered salary ($60,996). Usually governments are not very efficient, but tax agencies are by far the most efficient government agencies. So we can rule out those numbers that are not close to the official mean.
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