Source: From "The College Payoff: Education, Occupations and Lifetime Earnings," Georgetown University Center on Education and the Workforce
A report released last Friday by Georgetown University that correlates educational attainment and occupation with lifetime earnings contained an interesting if disturbing detail: Black and Latino degree holders earn less than their white and Asian counterparts.
From the executive summary:
African-Americans and Latinos earn less than their White counterparts, even among the most highly-educated workers.
African-Americans and Latinos with Master’s degrees don’t exceed the median lifetime earnings of Whites with Bachelor’s degrees. However, at the graduate degree level, Asians make more than all other races/ethnicities, including Whites.
The full report further breaks down the gaps but doesn't offer much of an explanation, though it hints at "occupational concentration" possibly playing a part:
While the gaps are smallest at the some college/no degree, Associate’s, Master’s, and Doctoral degree levels, they are large again among Bachelor’s and Professional degree holders.
These patterns suggest that more study is needed regarding the nature of occupational concentration by race/ethnicity at the high and low ends of the occupational ladder.
The best-paid occupations for people with bachelor's degrees? The top five listed are chief executives and legislators; computer and information systems managers; aerospace, biomedical, agricultural, chemical, computer hardware, environmental, marine, materials, petroleum, mining and geological engineers; computer software engineers; and marketing and sales managers.
And while this is no surprise, women continue to have it rougher financially as well, earning less than men "at every level of educational attainment," according to the report.