Table 4.
Estimated Median 40-year Lifetime Earnings by Field of Study Using the Semi-Synthetic Cohort Method
| Men | Women | ||||||
|---|---|---|---|---|---|---|---|
| (A) | (B) | (C) | (A) | (B) | (C) | ||
| Gross Lifetime Earnings | Net Lifetime Earnings | Net Present Value at Age 20 | Gross Lifetime Earnings | Net Lifetime Earnings | Net Present Value at Age 20 | ||
| High School Graduate | $1,425,195 | $1,489,656 | $679,885 | $721,108 | $734,662 | $339,328 | |
| BA | Business | $2,308,898 | $2,255,050 | $987,449 | $1,442,296 | $1,377,781 | $631,985 |
| STEM | $2,797,436 | $2,663,359 | $1,149,086 | $1,811,564 | $1,757,279 | $800,417 | |
| Health Science | $2,171,387 | $2,109,116 | $900,435 | $1,518,012 | $1,443,341 | $652,117 | |
| Social Sci, History, Psychology, Comm | $1,946,944 | $1,863,586 | $818,671 | $1,100,490 | $1,050,886 | $486,080 | |
| Education | $1,566,094 | $1,535,131 | $650,920 | $1,029,495 | $1,001,804 | $441,623 | |
| Liberal Arts/Humanities, Art, Architect | $1,889,523 | $1,878,207 | $795,301 | $1,002,475 | $977,333 | $478,869 | |
| Others | $1,940,772 | $1,925,376 | $849,080 | $1,281,613 | $1,242,303 | $583,706 | |
| (Average) | ($2,208,771) | ($2,148,556) | ($933,236) | ($1,257,109) | ($1,210,476) | ($556,940) | |
| Grad | Business | $3,027,151 | $2,914,196 | $1,238,332 | $2,030,029 | $1,893,831 | $867,556 |
| STEM | $3,020,020 | $2,829,947 | $1,182,468 | $1,823,752 | $1,738,367 | $792,526 | |
| Medicine, Dentistry | $5,563,507 | $5,251,212 | $1,962,536 | $2,166,711 | $2,118,263 | $944,416 | |
| Law | $3,157,032 | $2,902,453 | $1,185,789 | $1,822,950 | $1,765,090 | $781,409 | |
| Social Sci, History, Psychology, Comm | $2,110,262 | $1,977,528 | $845,792 | $1,503,241 | $1,394,857 | $605,143 | |
| Education | $1,955,046 | $1,858,827 | $795,015 | $1,591,857 | $1,503,325 | $657,305 | |
| Liberal Arts/Humanities, Art, Architect | $1,821,236 | $1,814,653 | $740,359 | $1,292,311 | $1,193,295 | $531,665 | |
| Others | $2,391,955 | $2,268,759 | $955,212 | $1,719,616 | $1,613,854 | $690,683 | |
| (Average) | ($2,786,890) | ($2,640,750) | ($1,092,931) | ($1,676,073) | ($1,579,473) | ($694,259) | |
Notes: A semi-synthetic cohort method is used to estimate lifetime earnings. Gross earnings are based on descriptive statistics without controlling for any covariates. For the estimates of net lifetime earnings and its present value, race/ethnicity, birth year, region of birth, high school type, years since the highest degree, college preparation courses, math/science AP courses, and year of the survey are controlled for in median regression models. The present value is calculated at age 20 using a real discount rate of 4 percent.