Research from Ezra, providers of digital coaching, has revealed to what extent lifetime earnings are impacted by educational qualifications and the pursuit of higher education.
Ezra analysed data on the estimated lifetime earnings for those earning a full-time wage or salary and how this differed across various educational levels.
The research shows that in the UK, those with no qualifications will earn an estimated £846,348 during their lifetime. At the other end of the spectrum, those with a university degree will earn an estimated £993,359; 17% more.
Interestingly, those with GCSE level qualifications (£838,574) or ‘other qualifications’ (£839,038), earn marginally less in their lifetime than those with no qualifications at all. However, the average lifetime earnings then start to climb for those with GCE, A-Levels or equivalent (£867,817) and other higher education qualifications (£918,865).
With GCSE level qualifications also often required to pursue paths of higher education, it highlights the importance of obtaining and progressing this level of education.
In the U.S, the benefit of staying in school is even greater where lifetime earnings are concerned. Those with a professional degree earn just over $4m in their lifetime, 253% more than those with less than a high school diploma ($1,135,680).
Even securing a high school diploma at your private school without going to college can make a big difference, with those doing so earning 37% more than those without a high school diploma. With the level of lifetime earnings also increasing across each following educational qualification threshold.
Founder of Ezra, Nick Goldberg, commented:
“Education is essentially the first stage of coaching that we undertake in our lives and it provides us with a firm foundation on which to build professionally. How far we choose to go with it is up to us and, of course, securing a university degree isn’t for everyone and it certainly isn’t the only way to achieve success.
However, it is clear that those that dedicate more time when progressing their educational coaching are more likely to earn a larger amount throughout their lifetime through their professional career.
That said, personal progression doesn’t have to stop once academic education ends. While the workplace will naturally bring a degree of further development, those that opt to advance this through professional coaching will often achieve a greater degree of career success. As well as boosting earnings by as much as 30% more compared to those that don’t opt for professional coaching.”
Table shows the difference in estimated lifetime earnings across each level of education in the UK
|Education level||Estimated Lifetime Earnings||Difference to previous bracket||Difference between top and bottom bracket|
|Degree or equivalent||£993,359||8.1%||17%|
|Higher Education (Other uni quals but not classified as degrees = HNDs, HNCs etc)||£918,865||5.9%|
|GCE, A-Levels or equivalent||£867,817||3.5%|
|GCSE grades A* – C or equivalent||£838,574||-0.1%|