What is the average salary of a high school dropout? The Bureau of Labor Statistics [1] provides some insight. It reports that, “Among youths ages 16 to 24 who had not graduated from high school, median annual earnings were $20,500 in 2004.” To develop a better estimate, it would be helpful to know more about this population. For example, is it ages 16 thru 19 or 20 thru 24? Is it true for both genders and for all races and ethnicities? Numbers for 25 and above will be considerably higher. This is because it’s not uncommon for people who have dropped out of high school to return as adults to complete their studies and attain a GED (High School Equivalency).
An average salary for high school dropout. The amount of the salary is computed from all available sources of income and by excluding any ineffectual pay to make an approximation.
The average salary for high school dropouts is $29,000 per year. With a lack of formal education and training, high school dropouts can be expected to earn significantly less than those with a high school degree or its equivalent.
College degree holder, who is 42 years old, earns an average salary of $65,000 per year. A high school dropout earns $36,000 per year.
Average salary for high school dropout
As we can see from this chart, the average salary for high school dropouts is significantly lower than for those who finished high school. It is also interesting to note that the unemployment rate for high school dropouts is considerably higher than that of those who completed their schooling. The good news, though, is that by obtaining a GED , those who had dropped out can boost their career prospects and income significantly.
The average hourly wage for a high school dropout working full-time is $10.03 as of 2012, according to the Bureau of Labor Statistics. Most people consider this amount to be quite low, but a high school dropout also has fewer expenses than someone who had continued his or her education, including college costs. For many people considering dropping out of high school, it may be a smart financial move to do so.
It is a well known fact that high-school dropouts make substantially less. Their salaries are almost half of what college graduates make. The most worrying number is that it drops to twenty percent less if they go on to get a GED. In many cases, this means that dropping out makes it difficult for students to continue their education and get a better job that can pay more.
If you think that dropping out of high school is a way to save money, you’re probably not thinking clearly. Even in the best case scenario, you are unlikely to be saving much. You are also likely throwing away your years of formal education in the process. This will make acquiring new knowledge or training expensive and difficult for you. In the worst case scenario, which unfortunately is more probable than not, things will get bad for you pretty quickly. There’s little reason for most employers to offer you a job if you have no diploma to show for yourself, and even if they do, it probably won’t pay very well. Your options are also limited when it comes to getting the formal education needed to advance your career because the absence of a diploma makes it significantly harder to find financial aid or scholarships and attending school part-time requires dedication and commitment that many dropouts do not have. A full schedule of classes on top of any work schedule is practically impossible without some serious help from mom or dad.