Now days, status and expertise of person are strongly dependant upon that person's academic and educational achievements. In today's capitalistic market system having and advanced degree counts, in fact those who own an advanced degree are more secured economically than of those who don't. Apart from that, person's occupation is also determined according to the degrees that they hold and the subject area of their degree becomes the field of their expertise. Moreover Advanced degree holders are more likely to be economically independent and have a major influence upon the processes of an organization and often earn sound financial rewards.

A sound financial compensation for an owner of an advanced degree is mainly because of the insufficient number of advanced degree holders. Earning a degree in certain discipline means acquiring the expertise in that field, which is scarce it self, hence due to their degree and advanced expertise in their field degree owners enjoy sound financial compensation. And presently the well being of a middle class family financially and economically is dependant upon the degree and expertise of the earner. The better the expertise are, the more they'll earn, which ultimately boosts up the family's living standards.

In America the income of an individual is highly dependant upon the level of degree that the person holds, the earning of both male and female workers increase with the increase in their degree level. Readings recorded in 2003, show that an average income rate for a female high school dropout was $13,459, and apart from that a male with an advanced degree in hands earned about $90,761. If combining both the sexes then the dropouts earned 64.9% lesser, that is $31,046, income than the advanced degree holders, who earn an average of $51,194. There is huge income between the income earned by the high school graduates and the high school dropouts. The difference is approximately of 45%, but apart from that the difference between the incomes of high school graduates and associate degree holder was merely 13%. On the whole average per annum income in America is $36,308 including all the sexes and races.

Since 1991, the level of education also influenced greatly on the median personal and household earnings in America, the median increased since 1991 but it wasn't the same on all education levels. The income kept on increasing during 90's and reached its peak in 1999. In 1999, average household income was around $46,236 and after that the average started decreasing hence in 2003 the average income decreased by 2.7% coming down to $45,016. But that depression in average income was only faced by those who were either high school dropouts, high school graduates or associate degree holders, but as for Bachelors degree holders the income still kept on increasing.

Academic Achievements also have a profound impact on the average incomes among different races. According to the study, European Americans took the top spot earning the highest annual average income of $74,122, if they're having an advance degree. The second spot was taken by Asian Americans, whose annual average income was around $72,852. However the lowest average annual income was earned by Hispanics and African Americans who made 29.9% less income than the European Americans did.