According to the U.S. Census Bureau (2005), with the following degrees, here is how much you can expect to make in your lifetime:

  • Doctors Degree: US$ 4,400,000
  • Masters Degree: US$ 2,500,000
  • Bachelors Degree: US$ 2,100,000

Big bang for associate degree

Now that you know all that, here’s what I came up with (using a “discount rate” of 5% for you detail bugs who care) for the increase in lifetime income from a two-year degree:

Associate degree
Payoff hits triple digits for some
Average $116,550 Liberal arts $63,667
Business $92,908 Social science $79,013
Computers $148,695 Science $104,521
Engineering $192,660

As you can see, the average increase in income from an associate degree, compared to what a high-school graduate would get, is about $116,550 today. Subtract the average cost of tuition and books at a two-year school — about $2,500 — and you’re way, way ahead. AA degrees in engineering and computers have the biggest payoff.

Present Value Increases:

Bachelor’s degree
Lifetime gain can be huge
Average $308,588 Liberal arts $243,883
Business $349,028 Social science $210,080
Computers $443,180 Science $283,286
Engineering $497,930 Education $108,461
Master’s degree
A mixed result
Average $180,010 Social science Less than 0
Business $375,780 Science $136,873
Engineering $362,092 Education $106,388
Liberal arts Less than 0
Professional degree
Big-time payoff
Average $716,927
Law $748,865
Medicine $977,601
The PhD
Science pays more
Average $187,920
Science $299,190