College degrees still pay off in San Diego
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While polling shows fewer Americans believe college is "very important," income data shows college graduates have a clear financial edge in San Diego.
Why it matters: Getting a degree is becoming more costly and doesn't guarantee job security, but it still significantly boosts someone's lifetime earnings.
By the numbers: Local college graduates make nearly twice as much as high-school graduates, according to recent Census data.
- The median income for someone with a bachelor's degree was about $82,000 last year, compared to $41,400 for a high-school grad.
- That jumps to $108,000 with a graduate or professional degree.
The big picture: There are plenty of reasons for the decline in perceived value among Americans, Axios' Emily Peck writes.
- School is expensive, student loan debt is often onerous and job security for those with degrees has diminished. 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.
What they're saying: "It feels bad right now to be a recent college graduate, but it doesn't necessarily feel better to be someone with a high-school diploma who's just going onto the labor market either," says Chris Martin, lead researcher on jobs site Glassdoor's economic research team.
- "While there may be declines in the returns to a college education, you're still better off."