A new study by The Hamilton Project found that education does indeed increase the probability of earning a higher wage. The study's authors, Adam Looney, the policy director at The Hamilton Project and a senior fellow at The Brookings Institution, and Michael Greenstone, a professor of environmental economics at MIT, write: "The message is clear -- more education opens the gateway to better, higher-paying jobs."
"Those with only a high school diploma accounted for 39 percent of those who made between $20,000 and $30,000, but just 8 percent of those earning more than $100,000. In contrast, college graduates only accounted for 18 percent of the $20,000-to-$30,000 group and 75 percent of people earning more than $100,000, despite the population of these two educational demographic groups being roughly equal."
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