This was a cogent question when I served as the Academic Coordinator in the University of Missouri-Columbia's Graduate School, which administered the McNair Scholars Program (TRIO). If you check Copilot, you will find a 2024 study on this question: "A separate study on income by education level found that in 2024, the median individual income for a worker in the U.S. was $50,200, but this varied significantly based on education. For instance:

• High school diploma holders had a median income of $39,049.
• Bachelor’s degree holders earned $71,722.
• Doctorate degree holders had a median income of $120,864."

This has been known for decades, and the exclusion from higher education of populations contributes to the high rate of socio-economic inequality in the Western world (which has the highest rate of disparities). The U.S. Department of Education has published charts explaining the relationship between education and income, and we used them to inform our McNair Scholars.

Thus, the variables of higher education and income are strongly correlated, and Sociologists have also been pointing this fact out to their students (Social Stratification).

Higher educational attainment is strongly associated with higher income levels, with each additional level of education typically leading to significant increases in earnings. For example, in the U.S., individuals with a bachelor’s degree or higher earn substantially more over their lifetimes than those with only a high school diploma. This positive impact is due to increased skills, qualifications, and access to better-paying jobs that come with higher education36

Education enhances skills and productivity, leading to higher wages

The primary impacts on an individual after successfully completing post secondary education include improved self-esteem, self-confidence, self-worth, and self-expression. These assets in wellbeing underpin the ability of the individual to mobilize themselves in multiple dimensions simultaneously to secure better outcomes across multiple sectors of their (and their family's) lives. These dimensions may include: increased socioeconomic status for both the individual and their family, improved health (mental, physical, cultural, relational, spiritual), housing security, food security, transportation security, improved educational outcomes of other family members, improved interpersonal and community relations, improved job satisfaction, leadership opportunities, travel opportunities, recreational opportunities, and overall life satisfaction. When people feel successful they value themselves and this empowers them to continue to grow, learn, and reach for what they want. Education is the stabilizer between and within people.