It's Not Just the Degree

Breaking news from the Department of No $#@!..."the blanket recommendation that students should go to college and get a bachelor's degree isn't enough. It turns out that what you study and the careers for which your major prepares you matter, too."

And, it turns out, we needed a report from the Center on Education and the Workforce at Georgetown University to confirm this seemingly obvious fact.  On the upside, though, we get some really cool charts out of it!  And, in the Executive Summary of the report, we get these four simple rules:
Rule No.1: Degree Level Matters. -But- Rule No.2: Occupational choice can trump degree level. People with less education in high-paying occupations can out-earn people with more education in less remunerative occupations. -But- Rule No.3: While occupation can sometimes trump education, degree level still matters most within individual occupations. -But- Rule No.4: Race/ethnicity and gender are wild cards that matter more than education or occupation in determining earnings.
As it turns out, I can replicate the results of this labor-intensive study by polling a random sample of my readers.  I'm confident that no one will answer any of these questions incorrectly; but just in case, you can check your answers after the jump:

1. All other things being equal, will more-educated people tend to make more money?

2. Do you think janitors with PhDs will tend to make more or less than high school drop-outs who can write elegant computer code?

3. Within a random sample of retail employees, do you think high school drop-outs will tend to out-earn people with an MBA?

4. Can you predict the role that race, ethnicity, and gender will play in the three previous questions?

Answer Key:  1. Yes, obviously; 2. Um, Less?; 3. No.  No I don't. 4. Nope.