As reported by Deutsche Welle, the institute's staff analyzed information on career growth and salaries of 12,000 people with different types and levels of education. The data they used covers a period of almost four decades.
It turned out that Germans with a higher education earn on average over their working life (more precisely, up to age 64, since many retire before the legally defined age) 1.4 million euros. Those workers and employees in Germany who, apart from school, never studied anywhere else earn much less over their working life – 800,000 euros.
What was unexpected is that those who did not attend university but obtained a profession at a secondary specialized educational institution after school are only caught up in salary by German bachelors and masters by age 35. Until reaching this age, skilled workers, technicians, etc., earn more. And in terms of total earnings, both categories only "equalize" at age 60.
Of course, this is an average figure, the experts remind. And, moreover, one must take into account that during university studies, which last significantly longer than vocational training, students earn nothing at all. By retirement, university graduates still overtake "competitors" without higher education: the latter end up earning "only" 1 million euros over their working life.
In any case, the results of the study, as the Chamber of Commerce and Industry of the federal state of Baden-Württemberg (which commissioned the study) believes, necessitate certain adjustments in the field of education. After all, as the President of the Chamber of Commerce and Industry Wolfgang Grenke emphasizes, "a person needs money primarily not at the end of their working life, but earlier, when, say, they start a family or want to acquire real estate." Or simply to live well, we add on our own.