and the typical US graduate earning about $1 million over their lifetime.

Median weekly income is $865 for a full time worker, $44k a year. Average annual personal income is more like $33,000.

Graduates, still, make a premium to median incomes. Working life of 30 to 40 years?

Nope, not right.

10 thoughts on “You what?”

  1. Hmm. 35K for 35 years is about 1+1/4 mil.

    Though my beef is with them using “earned” instead of “paid”.

  2. I got confused my Tim mixing up medians and averages in the same comment. I’m still not sure what it’s supposed to mean. +++ OUT OF TEA ERROR +++

  3. Tea reinforcement: Typical US graduate likely earning more than the average, hence more than $44K per annum? Makes wonky headline?

  4. The Meissen Bison

    Graduates, still, make a premium to median incomes.

    Not convinced. Not even sure that they make a premium over mean incomes – that moaning minnie you wrote about the other day who was an associate professor of something and who wasn’t able to string a sentence together was broke.

    Anyhow, Littlewood’s article was about the value of a life and the context is important:

    All of these numbers need to be understood in the context of the average net worth of an American household being under $100,000 and the typical US graduate earning about $1 million over their lifetime. However much you think it might be worth spending to save a single human life, the resources simply may not be there to do so.

  5. When it says “average net worth of an American household being under $100,000” that has to be the median, I think the mean is several times that.

  6. Not even sure that they make a premium over mean incomes – that moaning minnie you wrote about the other day who was an associate professor of something and who wasn’t able to string a sentence together was broke.

    I found an article by her that had some figures in it where it was possible to work out her (and hubbies) approx. income. They were bringing in a tidy sum, so their broke status is likely more to do with spending (“therapy” for toddler “diagnosed” with “ADHD”).

    Her writing was okay but limited by the ongoing subject matter – herself. If she developed an imagination she could easily write good books that sell.

  7. PJF said:
    “If she developed an imagination she could easily write good books that sell.”

    I’d have thought that would be a difficult thing to develop. A certain writing style, I can see that’s possible to develop. But an imagination if you haven’t got one?

  8. and the typical US graduate earning about $1 million over their lifetime.

    So, 1 million(ish)(1.2 mil USD) for a college graduate over their lifetime (say 30 years).

    Min wage where I live is $12/hr. $25k/yr. Or $750,000 over that same 30 years.

    If those numbers are correct (and I do not think they are) then the author is making a strong case that the ‘college wage premium’ is not even close to being worth it.

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