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ERIC Number: ED467533
Record Type: Non-Journal
Publication Date: 2002-Jul
Pages: 14
Abstractor: N/A
Reference Count: N/A
The Big Payoff: Educational Attainment and Synthetic Estimates of Work-Life Earnings. Special Studies. Current Population Reports.
Day, Jennifer Cheeseman; Newburger, Eric C.
Changes in the relationship between educational attainment and work-life earnings over the past 25 years were examined by using data from the Current Population Survey (CPS) to construct synthetic work-life earnings. CPS data collected in March 1998, 1999, and 2000 were analyzed by age, sex, full- or part-time work experience, race, Hispanic origin, and educational attainment groupings. The synthetic estimates were created by using the various study groups' 1-year annual earnings and summing age-specific average earnings for people aged 25-64 years. The resultant totals represent what individuals with the same educational level would expect to earn on average in 1999 dollars in a hypothetical 40-year working life. The following were among the key findings: (1) earnings increase with educational level, with average annual earnings ranging from $18,900 for high school dropouts to $25,900 for high school graduates, $45,400 for college graduates, and $99,300 for workers with professional degrees; (2) earnings differences by educational attainment compound over an individual's lifetime; (3) the educational gap between women and men is narrowing; and (4) educational attainment and work-life earnings vary by sex, race, and Hispanic origin. Detailed information about the study assumptions and limitations and the computational procedure are included. (Contains 10 tables/figures.) (MN)
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Publication Type: Numerical/Quantitative Data; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Bureau of the Census (DOC), Washington, DC. Economics and Statistics Administration.
IES Cited: ED506465