College degrees still pay off in San Antonio
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While polling shows fewer and fewer Americans believe college is very important, income data shows a degree makes a big difference in the San Antonio area.
Why it matters: College may not live up to the American Dream that it promised in the past, but in terms of lifetime earnings, a degree is still important, Axios' Emily Peck reports.
The big picture: There are plenty of reasons for the decline in perceived value among Americans.
- School is expensive, student loan debt is often onerous and job security for those with degrees has diminished — even more so with the advent of AI. Plus, new graduates are seeing higher unemployment rates.
- There's also growing interest and appeal for young adults in the skilled trades — becoming plumbers, electricians, etc. — especially as AI appears to threaten white collar work.
Zoom in: People with a bachelor's degree in San Antonio earn nearly $30,000 more than those with only a high school diploma.
- San Antonians with graduate degrees make more than double ($84,100) that of those with only a high school diploma ($36,100).
Zoom out: The widest education income gap in Texas is in Austin, where residents with a bachelor's degree earn about $38,500 more than those with only a high school diploma.
- Eagle Pass shows the smallest gap — just $5,411, indicating far less of a wage return for earning a college degree there.
Between the lines: There's been loud criticism, particularly from conservatives, over the political leanings of universities, criticized as "elitist," "woke," "leftist," etc.
- Yet both Democrats and Republicans express far less support for higher education than they did more than a decade ago.
The bottom line: "While there may be declines in the returns to a college education, you're still better off," says Chris Martin, lead researcher on jobs site Glassdoor's economic research team.