College is one of the biggest decisions a person makes, so here is what the data says about how pay differs by education level and by major. These are national figures; see your state, check a specific major or look up your own school.
Median earnings by education level
Median yearly wage or salary of full-time, year-round employees ages 25 to 64, in 2024 dollars.
Less than high school$40,600
Unemployment by education level, United States
People 25 and older, September 2026 (seasonally adjusted). Listed from least to most education, not as a ranking of anything. Unemployment is the share of people in the labor force who are looking for work; participation is the share of all people 25 and older who are working or looking. Weekly earnings are the median for full-time wage and salary workers ages 25 and older, second quarter 2026 (bachelor's degree only: $1,628; advanced degree: $1,963).
| Highest education | Unemployment rate | Labor force participation | Median usual weekly earnings, full-time |
|---|
| Less than a high school diploma | 4.3% | 44.3% | $803 |
| High school diploma, no college | 4.4% | 55.9% | $994 |
| Some college or associate degree | 3.6% | 61.5% | $1,125 |
| Bachelor's degree and higher | 2.5% | 71.5% | $1,768 |
Source: U.S. Bureau of Labor Statistics, Employment Situation (Current Population Survey), Table A-4, and Usual Weekly Earnings Table 5. National figures that change every month and describe groups, not any one person; MajorPays selected and reorganized them; the Bureau of Labor Statistics has not approved or endorsed this presentation. MajorPays does not provide advice.
Money and education, United States
Adults 18 and older, 2025, by highest education. Listed from least to most education, not as a ranking of anything. These are answers people gave in an online survey run for the Federal Reserve Board, not tax or payroll records, and they describe groups, not any one person. The plus-or-minus figure is an approximate 95% margin of error in percentage points.
| Highest education | Doing at least okay financially | Could cover a $400 emergency expense with cash or equivalent | Currently has student loans (own or someone else's education) |
|---|
| Less than a high school diploma (677 respondents) | 41% ±4 | 26% ±4 | 3% ±1 |
| High school diploma or GED (3,032 respondents) | 64% ±2 | 51% ±2 | 6% ±1 |
| Some college, technical training or associate degree (3,713 respondents) | 71% ±2 | 59% ±2 | 20% ±1 |
| Bachelor's degree or more (5,512 respondents) | 86% ±1 | 81% ±1 | 21% ±1 |
Source: Board of Governors of the Federal Reserve System, Survey of Household Economics and Decisionmaking (SHED), 2025 public-use data, weighted by the survey’s population weights. MajorPays calculated the group percentages and margins of error (from the effective sample size, which accounts for the survey weights but not other features of the survey design, so the true margins are probably somewhat larger); the Federal Reserve Board has not approved or endorsed this presentation. Differences between groups can reflect age, income, family and many other things besides education. MajorPays does not provide advice. See Data sources.
Family income and wealth by education, United States
Families in the 2022 Survey of Consumer Finances, grouped by the education of the person who heads the family (the reference person). Listed from least to most education, not as a ranking of anything. Net worth is what a family owns minus what it owes. Medians are the middle family: half are above and half below. Dollar amounts are adjusted to 2022 dollars. These figures describe groups of families, not any one person, and differ for many reasons besides education, such as age, family size and inheritance, and the mix of families in each group changed between 1989 and 2022. Survey respondents report income for the calendar year before the interview, so the 2022 survey income is for 2021.
| Education of the family’s reference person | Median family income before tax (survey year 2022; income is for 2021) | Median family net worth, 2022 | Median family net worth, 1989 (in 2022 dollars) |
|---|
| No high school diploma | $32,427 | $38,050 | $55,750 |
| High school diploma | $52,965 | $107,000 | $84,610 |
| Some college | $60,531 | $137,040 | $107,580 |
| College degree (as defined in the SCF documentation) | $117,819 | $464,400 | $293,340 |
Source: Board of Governors of the Federal Reserve System, Survey of Consumer Finances, tables based on the public data (real, 2022 dollars; Tables 1 and 4), copied from the Board’s published tables; MajorPays selected and reorganized them and did not recalculate them. The Federal Reserve Board has not approved or endorsed this presentation. Survey estimates have sampling error; see the Board’s documentation. MajorPays does not provide advice. See Data sources.
What households spend, by education, United States
Average yearly income and spending of households (the Bureau of Labor Statistics calls them “consumer units”), grouped by the highest education reached by any member, 2024. Listed from least to most education, not as a ranking of anything. Households with more education tend to have more income and to spend more in almost every category listed. These figures do not hold household size, age or location constant, and spending can exceed reported income. They are averages for groups of households, not any one family’s budget.
| Highest education in the household | Income before taxes | Total spending | Housing | Food | Transportation | Healthcare | Education |
|---|
| Less than high school graduate | $38,603 | $40,357 | $15,994 | $6,851 | $6,234 | $3,345 | $230 |
| High school graduate | $56,269 | $48,316 | $17,340 | $7,114 | $8,663 | $4,219 | $270 |
| High school graduate with some college | $69,041 | $58,696 | $21,156 | $8,161 | $10,304 | $5,047 | $738 |
| Associate's degree | $82,575 | $71,328 | $23,620 | $9,224 | $14,228 | $5,624 | $619 |
| Bachelor's degree | $123,316 | $89,490 | $29,320 | $11,088 | $15,387 | $6,992 | $1,883 |
| Master's, professional or doctoral degree | $177,890 | $119,183 | $38,078 | $14,050 | $18,460 | $8,829 | $3,801 |
Source: U.S. Bureau of Labor Statistics, Consumer Expenditure Surveys, 2024 annual means by highest education level of any member of the consumer unit (series CXU…LB14…), from the BLS public data files, in dollars per consumer unit before any adjustment; MajorPays selected and reorganized these figures and did not recalculate them. Survey estimates have sampling error; income before taxes is as reported in the survey. The Bureau of Labor Statistics has not approved or endorsed this presentation. MajorPays does not provide advice. See Data sources.
High school diploma or GED$48,700
Some college or associate's$56,900
Bachelor's degree$81,200
Master's or higher$101,500
Unemployment rate by education level
Less than high school6.9%
High school diploma or GED5.0%
Some college or associate's3.9%
Bachelor's degree2.7%
Master's or higher2.1%
Median earnings by field of bachelor's degree
Full-time, year-round employees ages 25 to 64 with a bachelor's degree or higher, grouped by the field of their bachelor's degree.
Fields with the highest median earnings
Computer Engineering$137,100
Electrical Engineering$137,100
Aerospace Engineering$132,000
Engineering Mechanics Physics and Science$132,000
Computer Science$126,900
Chemical Engineering$126,900
Applied Mathematics$126,900
Materials Science$126,900
Mechanical Engineering$121,800
Statistics and Decision Science$121,800
Economics$121,800
Health and Medical Preparatory Programs$121,800
Pharmacy Pharmaceutical Sciences and Administration$121,800
Business Economics$121,800
Electrical Engineering Technology$120,800
Fields with the lowest median earnings
Human Services and Community Organization$60,900
Early Childhood Education$60,900
Teacher Education: Multiple Levels$61,900
Theology and Religious Vocations$62,900
Elementary Education$62,900
Counseling Psychology$64,000
Cosmetology Services and Culinary Arts$64,000
Art and Music Education$65,000
Studio Arts$66,000
Social Work$66,000
Family and Consumer Sciences$66,000
Special Needs Education$66,000
General Education$66,000
Visual and Performing Arts$67,000
Language and Drama Education$67,000
Frequently asked questions
Does a college degree pay off?
On average, yes: full-time workers with a bachelor's degree earn a median of $81,200 a year, compared with $48,700 for workers whose highest level is a high school diploma or GED, a difference of about $32,500 a year. That is an average across everyone; it does not say what a degree will do for any one person, and it does not account for the cost of school.
Which majors pay the most?
Among full-time workers with a bachelor's degree, the highest median earnings are for Computer Engineering ($137,100), Electrical Engineering ($137,100) and Aerospace Engineering ($132,000). The lowest are for Human Services and Community Organization ($60,900) and Early Childhood Education ($60,900).
Does a liberal arts or humanities degree pay off?
Liberal Arts: median $76,100. Humanities: median $76,100. Pay in these fields varies widely by job; many graduates work in business, education, government and other fields, so a major does not fix a career. Use Search any career to see the careers people with a given degree actually hold.
Source: U.S. Census Bureau, American Community Survey (ACS) 2024 1-year Public Use Microdata Sample. The medians and rates are MajorPays' own estimates from that survey (Census is credited only as the source of the original data, and has not endorsed them). Earnings are wages and salaries of employees working 35+ hours a week and 48+ weeks a year, in 2024 dollars; a figure appears only with enough survey respondents. Survey estimates carry sampling error, larger for small groups. Field of degree is the subject of the bachelor's degree, even for people whose highest degree is higher. What a degree is worth for any one person depends on much more than the field or the level: the school, the job, the place, and the person.