Press Release: More Education Pays Off; As Does Certain Fields of Training

This is from the Census Bureau:

The field of training can sometimes have as dramatic an effect on
earnings as the level of education, according to a series of data tables
the U.S. Census Bureau released today.

Workers who held vocational certificates in engineering averaged about
$3,880 a month, which is nearly the same as those with bachelor's degrees
in natural science. Likewise, those with associate's degrees in computers
averaged about $3,760 a month, which is close to those with bachelor's
degrees in education or social science.

The tables, What It’s Worth: Field of Training and Economic Status in
2004, examine the relationship between field of training for post-secondary
degree holders and monthly earnings. They also present data on the average
years taken to start and complete various degrees and on occupation of
workers by educational attainment and field of degree.

Other highlights:


· Business was a popular field of training in 2004, as 8.6 million
people held bachelor's degrees, 3.9 million earned associate's degrees and
2.7 million received advanced degrees in this field. Those with
bachelor's degrees in engineering earned an average of $5,992 a month.

· People who pursued higher degrees often spent more than the minimum
number of years to complete the degree or certificate. On average,
students took more than a year to complete vocational programs,
more than four years to complete associate's degrees and more than five
years to complete bachelor's degrees.

· Women earned less than men at every degree level. The female-to-male
average monthly earnings ratio for full-time workers 18 and
older in 2004 was 0.71 for women who held bachelor’s degrees
and 0.67 for women with master's, doctorate or professional
degrees. The ratios were not statistically different from one
another at these levels of education

- X -

These data were collected from June 2004 through September 2004 in the
Survey of Income and Program Participation. As in all surveys, these data
are subject to sampling and nonsampling error. For further information on
the source of the data and accuracy of the estimates, including standard
errors and confidence intervals, go to
<http://www.sipp.census.gov/sipp/source.html>.