Coloradans with more education also have higher wages. Those with a bachelor’s degree have the highest average annual wage at $84,202 while those with less than a high school diploma earn $48,951 on average, a gap of $35,251.
Of all the 143 “Top Jobs” that provide a living wage for a family of $25.88 an hour, nearly 63 percent require a credential past high school, the report said.
The report shows that postsecondary credentials contribute to — but aren’t a guarantee — of wage equity. Males and females, white and Black graduates who earn more than minimum wage have similar wages.
The similarity of wages between different groups “becomes greater and greater as time passes by, which means that all the policies we’ve been implementing to bring equity in the wage work space are working and we can actually measure that,” said Joon.
However, the report shows that 10 to 30 percent of these graduates are still experiencing wage inequity.
Joon said more qualitative research would have to be done to see if there are work sectors or individual companies where inequities are greater.
The degree you choose matters
Officials say students can make critical choices to avoid debt and maximize the value of their credentials. The state has an interactive tool that provides information about postsecondary pathways and their cost, affordability and value. It allows students to project more accurately how much they can earn annually one, five and 10 years after graduating, based on a field of study, credential level and institution.
For example, a 2-year degree in computer support services garners a median wage of $42,805 in the short term, compared to culinary services at $25,145. In the long term, the computer job rises to almost $60,000, while the culinary job advances to around $36,000.
At the four-year level, a degree in the health professions starts out at $57,000, rising to $69,000 while an English language and literature degree may get you a job starting at $33,000 but would see gains much later along the career path landing at $52,000.
At the same time, the report noted that students enrolled in programs that foster soft skills, namely oral/written communication, critical thinking, ethical judgment, teamwork, and real-world application of academic knowledge, generate both public and private good.
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August 06, 2021 at 05:00PM
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Coloradans With A College Degree Did Better Financially During The Pandemic, State Says - Colorado Public Radio
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