Minneapolis spokesman., 1963-12-26
MONITOR
HORIZONS

There are still many in our Socie-
ty who have had little exposure
to education, disadvantaged people
who cannot see how education can
help them or their children. A look
at the money value of education
may help convince these people
that schooling leads TO an improve
ment in their economic status.
Investing in education Is some
what like taking out life insurance.
Nobody can tell you exactly how
long you are going to live. Neither
can anyone tell you how much you
will earn in a lifetime. But from
your age, sex, occupation, and
other personal Information, your
insurance company can judge your
chances of living a given number
of years. Similarly, the us. Bur-
eau of the Census has been able
to prepare estimates of average
lifetime earnings for men, based
on educational attainment.
In 1859 - the year for which
income data were collected in the
1860 Census of Population - COL
lege graduate could look forward
to earning about $417, 900 during
his lifetime, assuming no subse-
quent drastic changes in economic
conditions. That would be $4,000
more than the average lifetime
earnings of a man whose formal
education ended with high school
education. With lifetime earnings
estimated at $247,OOO, a high
school graduate would be $63, 900
ahead of an elementary school
graduate, who, in turn, would be
likely to average $41, 900 more than
the man who left school before
completing the eighth grade.
Keep in mind that education is
only one ingredient, although a
very important one. There is no
assurance that it alone can pave
your way to high earnings. In 1861,
about 2.6 million men - 46% Of
all college-educated males - had
annual incomes under $1,000,
whereas 3.3 million men - 23%
of the male high school graduates
earned more than that amount.
Responsible for the lower incomes
of so many college men are diff
ferences in occupations, in social
position, in the quality of educa-
ton, and in the abilities and efforts
of individuals.
What good Is a high school dip
Iona to somebody who is not going
on to college, who Is going to en-
ter an occupation where the en-
phasis is on aptitude and know
how, not on formal education
Here's why craftsmen and
foremen, as a group, average about
500, 900 more in a lifetime If they
are high school graduates. Even
the semiskilled operatives and
kindred workers stand to earn
some $4,000 extra, thanks, at
least partly, to high school dip
Iona.
The reasons are not hard to find
Occupational outlook information
shows that employers prefer high
school graduates. Take a carpenter,
for example. With a HIS. diploma,
he has a better chance to get a
regular job with a big and diversi-
fled construction firm. Then, rain
or shine, he works every day. Un-
like the less educated - and often
also less trained - carpenter, he
may be the last to be laid off In
slack times. Or take the bus driver
With a HIS. diploma, he may be
considered for a job by a nation
wide carrier - without 1t, he may
need a little luck to turn the
wheels for any firm, often at lower
pay.
The fact that HIS. graduates are
often preferred for apprentice
training also increases the fin
ancial benefits Of the HIS. diploma
Intensive and thorough training
for sldlled occupation may be
worth more in the long run than
picking up the slills on the job.
Why do 50 many young people
have the Show me, prove It" at
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