It DOES pay to go to college: University-educated Americans earn $17,500 more a year than high school grads… and they’re more likely to be married
“Of course the rich are getting richer. But the divergence between Main Street and America’s elites begins with two of our most cherished institutions – college and marriage”. That is the teaser line for an article in The Atlantic written by Charles Murray
College And Marriage Are Indicators of Future Wealth
According to Murray, real family income for families in the middle was flat from 1970 to 2010.
Just about all of the benefits of economic growth in this time span was enjoyed by the upper half of the income distribution, according to Murray.
It seem pretty straight forward. Upper-middle-class children dominate the population of elite schools because parents of the upper-middle class now produce a disproportionate number of the smartest children, says Murray.
The result is their children will develop their careers with more success, upward mobility and compensation.
Your Partner And Homogamy And Income Inequality
A definition of Homogamy – inbreeding, especially as a result of isolation.
Families with married head of household generally have higher incomes (and net worth)
Here is a basic reality check. There is “interbreeding” of individuals with like characteristics. Studies have shown homogamy has increased at both ends of the educational scale in America –
- College graduates grew more likely to marry college graduates
- High school dropouts grew more likely to marry other high school dropouts
- In 1960, 3 percent of American couples both had a college degree
- In 2010, that proportion stood at 25 percent
In reference to our American Culture, not only will the uber rich get richer, college educated, married citizens will likely continue an upward economic trajectory.