Acumen Insights

Millennial Education Divide

By July 13, 2015 No Comments

A report from Experian Marketing Services looked at how college-educated Millennials differ from their non-graduated peers on employment and attitudes toward personal finance. Millennials with a college degree are somewhat less focused on income than their non-college educated peers. Those with a degree are much more likely to say “I look at the work I do as a career rather than just a job” whereas the non-degreed Millennials are significantly more likely to say “Money is the best measure of success.

Millennials (ages 18-34) are more likely to be in school than other generations with 19 percent currently full- or part-time college students; an additional 25 percent are college graduates and 56 percent are high school grads (may or may not have some college education).  While 68 percent of Millennials are employed, more than a third of the jobs are part-time and thus contribute to their lower average individual income of $34,100—compared to $54,400 for Gen X. However Millennials with a college degree earn an average $52,700, double the individual income of their peers without a degree.

 

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