Dear Commons Community,

The ezine, SmartAsset, had an article on Wednesday comparing average annual salaries by level of education. Using U.S. Census data, the article clearly makes the case that the more education one has, the higher their salary.  The entire piece is below.

Tony

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SmartAsset

The Average Salary by Education Level

March 1, 2017

We all know that it’s hard to become a high-earner in this country without a college degree. Access to the middle class is increasingly reserved for those with some higher education under their belts. Let’s take a closer look at the average salary by education level to see what dividends education pays. 

According to the U.S. Census Bureau, 88% of Americans had at least a high school diploma or GED in 2015. Thirty-three percent had a bachelor’s or more, and 12% had an advanced degree such as a master’s or professional degree, or a doctorate. To see what a difference education makes, check out the average salary by education level.

The Average Salary With Less Than a High School Diploma

Workers with less than a high school diploma are the lowest earners on average when you examine the average salary by education level. According to data from the Bureau of Labor Statistics (BLS), median weekly earnings for those with less than a high school degree are $493. That works out to $25,636 per year, assuming a year of constant earning. The unemployment rate for Americans with less than a high school diploma is 8%, the highest of any of the educational categories.

The Average Salary With a High School Diploma

Earnings are higher for those with a high school diploma. Median weekly earnings for workers with a high school diploma equal $678. That works out to $35,256 per year. The unemployment rate for those with a high school diploma is 5.4%.

The Average Salary With Some College, No Degree

Having some college credits but no degree still improves your earnings over having just a high school diploma. The average salary of someone with some college and no degree is $738 per week, $38,376 per year. The unemployment rate for people in this category is 5%. The problem for many people in the some-college-no-degree category is that they have student debt from their college days but lack the degree that would bump them into a higher earning category that could help them get out of debt.

The Average Salary With an Associate’s Degree

Having an associate’s degree gives you an edge over someone with no degree, but lower average earnings than someone with a bachelor’s degree. Median weekly earnings for workers with an associate’s degree are $798, for an annualized salary of $41,496. The unemployment rate in this category is 3.8%, which is lower than the average across all educational attainment levels (4.3%).

The Average Salary With a Bachelor’s Degree

Americans with a bachelor’s degree earn a weekly average of $1,137. That’s higher than the median weekly earnings for workers at all education levels, $860. Average earnings for workers with bachelor’s degrees work out to $59,124 per year. The unemployment rate for Americans with a bachelor’s degree is 2.8%.

The Average Salary With a Master’s Degree

Median earnings for holders of master’s degrees are $1,341 per week, $69,732 per year. The unemployment rate for workers with master’s degrees is 2.4%. The number of Americans with a master’s degree has been steadily rising. In part, that’s because of the “wage premium” that comes with a master’s degree. That wage premium is the extra money that those with a master’s degree have relative to those who only have a bachelor’s degree.

The Average Salary With a Professional Degree

Workers with a professional degree earn a median weekly salary of $1,730, the highest weekly earnings of any of the educational categories. That works out to $89,960 per year. The unemployment rate for holders of professional degrees is the lowest on our list, at 1.5%.

The Average Salary With a Doctorate

You might think that Americans with a doctorate would earn more than those with a professional degree, but in fact they earn less. Median weekly earnings for workers with doctorates are $1,623. Annualized, that’s $84,396. The unemployment rate for Americans with doctorates is 1.7%.

Bottom Line

Looking at the average salary by education level can be illuminating, but keep in mind that salary isn’t everything. Even people with high salaries may live beyond their means and end up with less retirement income than they need to be comfortable. And if your salary isn’t as high as the average in your educational cohort, there’s no need to panic. These averages are for all full-time workers over 25, so if you’re still in the earlier stage of your career keep in mind that the BLS averages are counting more senior workers, too.

Dear Commons Community,

Various media are reporting that House Minority Leader Nancy Pelosi (D-Calif.) is calling for Attorney General Jeff Sessions to resign following a Washington Post report that he spoke with Russia’s ambassador to the United States twice last year and failed to disclose it at his confirmation hearing in January.

“Jeff Sessions lied under oath during his confirmation hearing before the Senate,” Pelosi said in a statement released late Wednesday. “Under penalty of perjury, he told the Senate Judiciary Committee, ‘I have been called a surrogate at a time or two in that campaign and I did not have communications with the Russians.’ We now know that statement is false.”

The Washington Post, citing unnamed Justice Department officials, reported Wednesday that Sessions spoke with Russian Ambassador Sergey Kislyak first in July and then in September in the senator’s office while Sessions was serving as a top supporter in the Trump campaign and as a senior member on the Senate Armed Services Committee. 

Officials at the Justice Department told the Post those talks were held as part of Sessions’ duties as a member of the Senate committee, not as a Trump adviser. The attorney general’s office released a statement to that effect, saying, “I never met with any Russian officials to discuss issues of the campaign. I have no idea what this allegation is about. It is false.”

The revelation came about an hour after The New York Times reported intelligence officials working for the Obama administration had dispersed information throughout the government about Russia’s efforts to influence the U.S. election in an effort to help investigators in a future administration.

The Post story looks at Sessions’ responses during his confirmation hearing in January, at which Sen. Al Franken (D-Minn.) asked Sessions what he would do in his capacity as attorney general if “anyone affiliated with the Trump campaign” was found to have communicated with Russian officials. Sessions said he was “not aware of any of those activities.”

“I have been called a surrogate at a time or two in that campaign, and I did not have communications with the Russians,” he asserted.

This is going to be a poitical mess for the White House.  The Democrats are smelling Sessions’ blood.

Tony

Dear Commons Community,

The New York Times is reporting that facing a fierce backlash after she called historically black colleges and universities “real pioneers” of school choice, Education Secretary Betsy DeVos, spent yesterday backtracking on the controversial statement and highlighting the institutions’ roots in racism and segregation.

Ms. DeVos, in a series of Twitter posts on Tuesday and in remarks at a luncheon with presidents from some of the schools, repeatedly acknowledged that the schools were not created simply to give African-American students more choices but because black students across the country were not allowed into segregated white schools.

“Bucking that status quo, and providing an alternative option to students denied the right to attend a quality school is the legacy of HBCUs,” she said, according to prepared remarks released by her office. “But your history was born, not out of mere choice, but out of necessity, in the face of racism, and in the aftermath of the Civil War.”

She added that historically black colleges and universities “remain at the forefront of opening doors that had previously been closed to so many,” and that the schools “made higher education accessible to students who otherwise would have been denied the opportunity.”

The controversy is the latest gaffe for Ms. DeVos, who has had a rough start to say the least.

Tony

Dear Commons Community,

Donald Trump gave his first major address to Congress last night and appeared for the first time to be presidential.  Unlike his Inauguration Speech, there was no dark side, no insults, and no bombasts.  This was the “Dr. Jekyll” Donald Trump.   He covered a lot of ground and made general proposals that were light on specifics. He called for Republicans and Democrats to unite for the good of the country and the American people.  The key segments in his sixty-minute speech were as follows.

First, the Opening:   “Tonight, as we mark the conclusion of our celebration of Black History Month, we are reminded of our Nation’s path toward civil rights and the work that still remains.  Recent threats targeting Jewish Community Centers and vandalism of Jewish cemeteries, as well as last week’s shooting in Kansas City, remind us that while we may be a Nation divided on policies, we are a country that stands united in condemning hate and evil in all its forms.”

Second, the acknowledgment of several individuals in the audience especially Carryn Owens, the widow of a U.S. Navy Special Operator, Senior Chief William “Ryan” Owens who died earlier this year in Yemen.  “Ryan died as he lived:  a warrior, and a hero –- battling against terrorism and securing our Nation.”  This was most interesting given that Ryan’s father refused to meet with President Trump and has called for an investigation into the mission that cost his son’s life.

Third, his comments about infrastructure spending resounded well with members of both parties. “Another Republican President, Dwight D. Eisenhower, initiated the last truly great national infrastructure program –- the building of the interstate highway system.  The time has come for a new program of national rebuilding. America has spent approximately six trillion dollars in the Middle East, all this while our infrastructure at home is crumbling.  With this six trillion dollars we could have rebuilt our country –- twice.” 

In sum, the Republican members of Congress gave Trump many standing ovations and generally liked what he said.  It remains to be seen how far they will go to support his agenda.  The Democrats rarely applauded anything Trump said with the exception of childcare.  They will be the party in opposition.

Tony