The Lifetime Earnings Potential with a College Degree

Co-authored by Marilyn Helms, dean of the Wright School of Business

We last considered the economic impact of Dalton State College on our region. Today we explore the value of a degree from Dalton State on an individual’s lifetime earning potential. According to a June 2023 study conducted on behalf of the University System of Georgia (USG) by Jeffrey M. Humphreys, Ph.D., director of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business, the answer to this data might surprise you. Humphreys gathered data from all 26 USG institutions of the 2022 graduates who remain and work in Georgia. On average, these graduates earn an additional $830,203 over their working life. There is no question that a college degree remains a strong return on a student’s investment. Each step in the higher education degree completion process translates into higher lifetime earnings, benefitting the individual, their family and the community.

Higher education increases earnings by $238,455 for those earning a certificate, $377,000 for those completing an associate degree and $1,152,500 for those graduating with a bachelor’s degree. In 2022, 37 Dalton State students earned a certificate, 208 earned an associate or two-year degree, and 496 earned a bachelor’s or four-year degree. So those 496 students who graduated with a bachelor’s degree with approximately 120 hours of coursework in 2022 will earn – on average – $1 million more over their lifetimes than they would earn without completing the four-year degree. 

The dollars and cents impact of this study’s higher lifetime earning potential is newsworthy alone. Dalton State remains one of the most affordable four-year colleges in the nation. With the reasonable tuition, small class sizes, engaged and dedicated professors, and corporate faculty, Dalton State is a great value, with a high positive return on investment for graduates. But it is also essential to identify the qualitative benefits of increased levels of education to include options for a broader range of job opportunities and less vulnerability to unemployment during economic downturns. Dalton State graduates can choose to specialize in 24 bachelor’s degrees with valuable knowledge, including various engineering, business, healthcare and computer science careers. These fields, where the latest specialized knowledge is gained through a degree program, lead to multiple marketplace career options.

With most Dalton State graduates choosing to live and work in our area, much of their lifetime earnings are spent in our local region. A college education helped these graduates develop valuable workplace skills and skills for daily life – communication, critical thinking, analytical abilities and problem-solving. The value of this personal growth is challenging to quantify. Still, family members and employers see resilience, determination, discipline and even time management qualities in those with a college degree. Our graduates’ children are also more likely to attend college, furthering the knowledge base and standard of living for generations to come.

The skills our students gain help individuals adapt to changes in their field. Students at Dalton State work with peers, professors and guest speakers as they build a network of career connections. Our students have access to new and emerging technologies, an extensive library, labs and other campus resources that improve personal fulfillment as they learn understanding, tolerance and their role in a global society. With face-to-face instruction, Dalton State graduates are in a unique environment for networking with classmates with similar interests. Professors offer job shadowing experiences, paid internships and mentorship options and suggest opportunities to join clubs, civic organizations, and campus clubs and to participate in study abroad opportunities. These campus and community experiences offer students options for leadership and self-exploration. Personal growth and learning more about oneself is an overlooked but significant college benefit. As a member of our first Dalton State class in 1967 and our first graduating class in 1969, Lamar Wright often says, “We are changing lives at Dalton State.”  The latest data further supports Lamar’s vote of confidence for Dalton State.