3Net present valuecosts spread over 4 years, premium over 40 years, discounted at 3% = $385,148
Median weekly earnings and unemployment by qualification, 2025
Highest qualification
Median weekly pay
A year
Unemployment
Doctoral degree
$2,307
$119,964
1.8%
Professional degree
$2,294
$119,288
1.9%
Master's degree
$1,876
$97,552
2.6%
Bachelor's degree
$1,578
$82,056
2.8%
Associate's degree
$1,135
$59,020
3.0%
Some college, no degree
$1,062
$55,224
3.8%
High school diploma
$966
$50,232
4.3%
Less than a high school diploma
$770
$40,040
6.1%
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Weigh a degree’s cost, including the pay you give up while studying, against the extra earnings it brings, using BLS median earnings by qualification, to see the payback period, the net present value and the rate of return.
Best for: Choosing whether to study, Comparing degree levels, Weighing a master’s, Career-change planning
Updated September 2026 · Estimates only, not financial advice.
A bachelor’s earns $612 a week more than a high school diploma
The Bureau of Labor Statistics reports median usual weekly earnings for full-time workers aged 25 and over by their highest qualification. In 2025 that was $966 with a high school diploma, $1,135 with an associate’s degree, $1,578 with a bachelor’s, $1,876 with a master’s and $2,307 with a doctorate.
premium = (weekly with − weekly without) × 52
The bachelor’s premium over a diploma is $612 a week, $31,824 a year. The 2025 figures are averages of eleven months, because the survey was not collected in October during the federal government shutdown.
The biggest cost is often the pay you give up
Four years of full-time study also means four years without a full-time wage. At the high school median that is $966 × 52 × 4 = $200,928, twice the $100,000 in tuition and fees in the example.
Counting it turns a $100,000 decision into a $300,928 one. Studying part-time while working, or a program that pays a stipend, removes most of it, which is why the calculator lets you switch it off.
Nine and a half years to pay back, a 9.0% return
At $31,824 a year, the $300,928 cost is repaid after 9.5 years of work. Over a 40-year career, with costs spread across the study years and every amount discounted at 3%, the net present value is about $385,148.
The internal rate of return, the discount rate at which the degree only breaks even, is 9.0% a year. That is the figure to compare with other uses of the same money and time.
Bachelor’s over a diploma
cost $100,000 + $200,928 forgone = $300,928
$300,928 ÷ $31,824 = 9.5 years
NPV at 3% ≈ $385,148 · IRR 9.0%
Degrees also come with lower unemployment: 2.8% against 4.3%
Earnings are not the only gap. In 2025 the unemployment rate was 2.8% for bachelor’s degree holders, 4.3% for people with a high school diploma and 6.1% for those without one. Doctoral and professional degree holders were under 2%.
Steadier work adds to a degree’s value in a way the median-pay comparison leaves out, since the premium assumes full-time work at both levels.
A median is everyone’s outcome, not yours
The BLS figures compare people who hold each qualification, not the same person with and without it. People who finish degrees differ in many ways, so part of the gap would exist without the degree, and the premium for any one person can be larger or smaller.
Field of study matters most: the same degree level spans very different pay. Replace the medians with the pay you expect in your field, and include the interest on any student loan in the cost.
Worked example
A bachelor’s over a high school diploma, $100,000 in costs over four years, pay forgone.
Worked example
Premium = ($1,578 − $966) × 52 = $31,824 a year
Pay forgone = $966 × 52 × 4 = $200,928
Upfront cost = $300,928
Payback = 9.5 years of work
Return (IRR) = 9.0% a year
Limitations
Medians compare everyone with each qualification; they do not say what the same person would earn with and without it.
Field of study, school and region move earnings far more than the averages show.
Frequently Asked Questions
How much more do college graduates earn?
In 2025 the median full-time worker with a bachelor’s degree earned $1,578 a week and one with a high school diploma $966, a gap of $612 a week or $31,824 a year (BLS).
Is a bachelor’s degree worth it?
On the BLS medians, a $100,000 degree that also costs four years of high school pay repays its $300,928 cost in 9.5 years of work and returns 9.0% a year over a 40-year career. Your field and costs change that.
Does a master’s degree pay off?
The median master’s holder earned $1,876 a week in 2025 against $1,578 for a bachelor’s, $15,496 a year more. Whether that repays the cost depends on tuition, time out of work and field.
Sources & References
Figures on this page are checked against primary, authoritative sources. Links open in a new tab.
Results are estimates based on the figures you enter and standard formulas. Rates, fees, taxes, and lender terms vary and change over time, so confirm important numbers with your lender or a qualified professional. This is educational information, not financial advice.
Is a College Degree Worth It? Earnings, Costs and the Real Return
A bachelor's earns $612 a week more than a high school diploma. Set that against tuition and the pay given up, and the return is calculable — here is how.