Thursday, November 3, 2016

Does College Really Pay Off?

34.38 hours spent per week in class on average for full time student (1.25 hour class twice a week)
3 hours/homework per week per unit = 36 hours (12-15 hours realistically)
34.38 + 13.5 = 47.88 hours per week on average
16 weeks per semester
16 * 47.88 = 766.08 hours per semester NOT including finals week
4-year degree (let's be realistic again ... 5 years)

7660.8 hours (319.2 days straight) spent getting 4-year degree

Average hourly wage with a 4-year degree $1137 / 40hrs = $28.425 per hour
Average hourly wage without college education $678 / 40hrs = $16.95 per hour
Hours spent working with degree (23-65 years old): 42yrs * 49wks * 40hrs
Hours spent working without degree (18-65 years old): 47yrs * 49wks * 40hrs
3 weeks vacation/sick time taken per year average

Money made without degree: $1,561,434
Money made with degree: $2,618,511

Mind you I'm averaging a lot of stuff and not taking into consideration taxes and unexpected expenses/incomes... But still... College better be worth it.

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