Their Relation to Higher Educational Finance
63
Dl AGR AM III'
THE COLLEGE OF BUSINESS ADMINISTRATION
OF BOSTON UNIVERSITY
Effect of Education on Average Incomes at Different Ages
and Total Life Earnings
FiGURE I.—The Untrained Man. He goes to work as a boy of 14—reaches
maximum income at 30, on the average less than $1,200. a year. Since his income
is largely dependent on physical
strength and manual dexterity,
it falls off at 50 or earlier, to'a
poiut below the level of seif
support.
More than 60 out of every
100 untrained workers are de
pendent upon others for support
at the age of 60.
Total earnings from 14 to 60,
about $45,000. Not more than
$2,000. is earned in the four
years that would have given him
a High School education.
Figure II.—The High School
Graduate. He goes to work at
18, passes the maximum of the
untrained man within seven years,
rises steadily to his own maxi
mum of approximately $2,200.
at 40, and continues at tliat level
for the remainder of his active
life.
Total earnings from 18 to
60, about $78,000. The $33,000.
more than that earned by the
untrained man represents the
cash value of a four-year High
School course—but note below
what return may be expected
from four years of Higher Edu
cation.
Figure III.—The College or
Technical School Graduate.
His permanent earnings began
at 22, although a considerable
amount may be earned during
the College course. By the time he is 28, his income equals that of the High School
graduate at 40, and it continues steadily to rise, practically without a break.
Since his income is dependent upon his mental ability and training constantly
improved by practice, it increases instead of diminishes with the years. The average
of $6,000. at 60 is offen surpassed.
Total earnings from 22 to 60 (not including anything earned during the College
period), $150,000. The $72,000. more than that earned by the High School graduate
represents the cash value of College, or technical training.
1 Used through the courtesy of Dean Lord.
