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University degrees translate into big money
Last Updated Tue, 11 Mar 2003 11:21:10
OTTAWA - Canadians with university degrees make more money than people without them – a lot more, according to Statistics Canada.
A report released on Tuesday shows the average university-educated Canadian made $25,545 more in 2000 than did the average Canadian with only a high school diploma.
Based on information in the 2001 Census, Education in Canada: Raising the standard shows average full-time earnings for Canadians in 2000 as follows:
University-educated – $61,823
College-educated – $41,825
High school only – $36,278
Overall average – $43,231.
More than 60 per cent of Canadians who earned more than $100,000 in 2000 had a university degree. Almost 60 per cent of those who earned less than $20,000 never went beyond high school.
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Nearly 447,000 Canadians – 84 per cent of them men – earned more than $100,000 in 2000, while 17.3 per cent of all full-time workers made less than $20,000.
More Canadians than ever, 53.4 per cent, are continuing their schooling beyond high school. In 2001, 22.6 per cent of Canadians had a university degree.
Half the university graduating class of 2001 were women, the first time that has happened.
Women continue to earn less than men, although the gap is closing. In 2001, women earned 64 cents for every dollar earned by a man, an improvement on the 52 cents earned in 1980.
Young people didn't see immediate benefits of higher education in the 1990s. The earning power of people between 25 and 29 declined over the decade, by 4.7 per cent for men, and 7 per cent for women.
Immigrants have likewise lost earning power. In 1980, an immigrant man who had been in the country for 10 years made about the same as a Canadian-born man. In 2000, a man who immigrated a decade ago would on average earn 79.8 per cent of the Canadian-born man's wages.
Written by CBC News Online staff
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