While over two million bachelor's degrees were awarded in the United States last year, the story behind this familiar milestone—from shifting enrollment trends to persistent equity gaps and evolving economic returns—is far more complex and revealing.
Key Takeaways
- In the 2020-21 academic year, a total of 2,037,000 bachelor's degrees were conferred by postsecondary institutions in the United States
- During 2020-21, public four-year institutions awarded 1,038,000 bachelor's degrees, representing 51.0% of all bachelor's degrees conferred
- In 2020-21, private nonprofit four-year institutions conferred 677,300 bachelor's degrees, accounting for 33.2% of the total
- 6-year graduation rate for first-time full-time bachelor's students at public four-year institutions was 64% for the 2015 cohort
- Private nonprofit four-year institutions had a 68% 6-year graduation rate for the 2015 entering bachelor's cohort
- For the 2014 cohort, 6-year completion rates at public four-year schools were 63% overall
- 36% of 25- to 29-year-olds held a bachelor's degree or higher in 2021
- Among 25- to 29-year-olds in 2021, 40% of women had a bachelor's degree or higher compared to 33% of men
- In 2021, 27% of Black 25- to 29-year-olds had a bachelor's or higher
- Median earnings for 25-34 year olds with bachelor's degrees were $56,000 in 2019
- Unemployment rate for bachelor's holders aged 25-34 was 2.8% in 2019
- In 2022, median weekly earnings for bachelor's degree holders were $1,432
- In 2021-22, 19% of bachelor's degrees were in business administration and management
- Health professions and related programs accounted for 13% of bachelor's degrees in 2021-22
- Social sciences and history made up 8% of bachelor's degrees awarded in 2021-22
Despite declining enrollment, bachelor's degrees remain common and valuable for career earnings.
Demographic Breakdowns
- 36% of 25- to 29-year-olds held a bachelor's degree or higher in 2021
- Among 25- to 29-year-olds in 2021, 40% of women had a bachelor's degree or higher compared to 33% of men
- In 2021, 27% of Black 25- to 29-year-olds had a bachelor's or higher
- 21% of Hispanic 25- to 29-year-olds attained a bachelor's degree or higher in 2021
- White non-Hispanic 25- to 29-year-olds had 42% bachelor's attainment in 2021
- Asian 25- to 29-year-olds reached 61% bachelor's or higher attainment in 2021
- In 2021, bachelor's degree holders aged 25 and older numbered 59.5 million in the U.S. population
- 37.7% of U.S. adults aged 25+ had a bachelor's degree in 2021
- Women aged 25+ held 39.0% bachelor's attainment rate vs. 36.2% for men in 2021
- In 2021, 25.3% of Black adults 25+ had bachelor's degrees
- Hispanic adults 25+ had 20.9% bachelor's attainment in 2021
- Among 25-34 year olds, 40% had bachelor's degrees in 2020
- College-educated adults 25+ grew from 30% in 2010 to 37% in 2020
- 57% of college graduates 25+ are women as of 2021
- In 2021, 14% of U.S. adults 25+ had advanced degrees beyond bachelor's
- Foreign-born adults 25+ had 34% bachelor's attainment rate in 2021 vs. 39% native-born
- In 2019, 66% of bachelor's degree holders aged 25-34 were employed full-time year-round
Demographic Breakdowns Interpretation
The data reveals a higher education landscape where women are outpacing men in degree attainment, significant racial gaps persist with Asian Americans leading, and while a college degree is becoming more common, its promise of stable, full-time employment is not a universal guarantee.
Employment and Earnings
- Median earnings for 25-34 year olds with bachelor's degrees were $56,000 in 2019
- Unemployment rate for bachelor's holders aged 25-34 was 2.8% in 2019
- In 2022, median weekly earnings for bachelor's degree holders were $1,432
- Bachelor's degree holders earned 66% more than high school graduates in 2022 median weekly earnings
- Unemployment rate for bachelor's holders was 2.2% in 2022, compared to 4.0% overall
- Over a lifetime, bachelor's degree holders earn about $2.8 million, vs. $1.6 million for high school grads (2022 data)
- In Q4 2022, 23.1% of employed bachelor's holders worked in management occupations
- 68% of bachelor's degree holders aged 25+ participated in the labor force in 2022
- STEM bachelor's grads had 2.3% unemployment rate in 2022
- Business majors with bachelor's had median salary of $65,000 early career (2022)
- Engineering bachelor's grads earned $80,000 starting salary average in 2023
- Computer science bachelor's starting salary averaged $75,000 in 2023
- Unemployment for recent college grads (bachelor's) was 12.6% in early 2021
- In 2022, 88% of bachelor's holders were employed one year after graduation
- Median earnings for women with bachelor's were $1,179 weekly vs. $1,477 for men in 2022
- Black bachelor's holders had 5.5% unemployment rate in 2022
Employment and Earnings Interpretation
While a bachelor's degree offers a sturdy financial launchpad—with higher earnings, lower unemployment, and a clear lifetime advantage—its power is unevenly distributed, revealing a sobering undercurrent of disparities in gender, race, and major that can't be ignored in the cost-benefit analysis of higher education.
Enrollment Statistics
- In the 2020-21 academic year, a total of 2,037,000 bachelor's degrees were conferred by postsecondary institutions in the United States
- During 2020-21, public four-year institutions awarded 1,038,000 bachelor's degrees, representing 51.0% of all bachelor's degrees conferred
- In 2020-21, private nonprofit four-year institutions conferred 677,300 bachelor's degrees, accounting for 33.2% of the total
- Private for-profit four-year institutions awarded 45,400 bachelor's degrees in 2020-21, making up 2.2% of all bachelor's degrees
- Fall 2021 undergraduate enrollment in bachelor's degree-granting institutions reached 15.4 million students
- Between fall 2010 and fall 2021, total undergraduate enrollment in bachelor's institutions declined by 12%, from 17.5 million to 15.4 million
- In fall 2021, 8.0 million students were enrolled full-time in bachelor's degree programs
- Part-time undergraduate enrollment in bachelor's institutions was 7.4 million in fall 2021
- Public four-year institutions had 5.9 million undergraduate enrollees in fall 2021
- In fall 2021, 56% of undergraduates in bachelor's institutions were female, totaling about 8.6 million women
- First-time freshman enrollment in bachelor's institutions fell 7% from fall 2020 to fall 2021, to 1.2 million students
- In fall 2021, 40% of first-time degree/certificate-seeking undergraduates attended public four-year institutions
- Total fall 2020 enrollment in degree-granting postsecondary institutions was 19.3 million, with bachelor's programs prominent
- From 2010 to 2020, bachelor's enrollment grew by 2% overall despite declines in some sectors
- In 2021, 39% of 18- to 24-year-olds were enrolled in college, many pursuing bachelor's degrees
- Community colleges saw 5.1 million undergraduates in fall 2021, many transferring to bachelor's programs
- International student enrollment in U.S. bachelor's programs was 272,000 in 2021-22
- Fall 2022 saw a 4% increase in first-year international bachelor's enrollees to 85,000
- In 2020-21, 1.4 million bachelor's degrees were awarded in arts, humanities, and social sciences fields
- STEM bachelor's degrees conferred numbered 747,000 in 2020-21
- Business bachelor's degrees totaled 375,000 in 2020-21
- Health professions bachelor's degrees reached 264,000 in 2020-21
- Education bachelor's degrees awarded were 101,000 in 2020-21
- In fall 2019, 41% of undergraduates were Pell Grant recipients pursuing bachelor's degrees
- Average net price for first-time full-time bachelor's students in public four-year institutions was $14,270 in 2019-20
Enrollment Statistics Interpretation
In the face of a stubborn enrollment slide, America’s universities, led by the public sector, stubbornly continued their degree factory operations in 2020-21, churning out over two million fresh graduates—predominantly women—while quietly wondering where all the new freshmen had gone.
Fields of Study and Majors
- In 2021-22, 19% of bachelor's degrees were in business administration and management
- Health professions and related programs accounted for 13% of bachelor's degrees in 2021-22
- Social sciences and history made up 8% of bachelor's degrees awarded in 2021-22
- Psychology degrees represented 6% of all bachelor's degrees in 2021-22
- Biological and biomedical sciences were 6% of bachelor's degrees in 2021-22
- Engineering bachelor's degrees totaled 123,000 in 2021-22
- Computer and information sciences awarded 100,000 bachelor's degrees in 2021-22
- Visual and performing arts accounted for 5% of bachelor's degrees in 2021-22
- Communication and journalism degrees were 5% of bachelor's total in 2021-22
- Multi/interdisciplinary studies made up 3% of bachelor's degrees in 2021-22
- In 2021-22, 10% of bachelor's degrees went to agriculture and natural resources fields
- Physical sciences and science technologies were 1% of bachelor's degrees in 2021-22
- Bachelor's degrees in mathematics and statistics numbered 25,000 in 2021-22
- Homeland security, law enforcement, and firefighting awarded 45,000 bachelor's in 2021-22
- Public administration and social services: 40,000 bachelor's degrees in 2021-22
- Architecture and related services: 10,000 bachelor's degrees in 2021-22
- Area, ethnic, cultural, gender, and group studies: under 10,000 bachelor's in 2021-22
- Foreign languages, literatures, and linguistics: 15,000 bachelor's degrees in 2021-22
- Family and consumer sciences: 20,000 bachelor's degrees in 2021-22
- Legal professions and studies: 12,000 bachelor's degrees in 2021-22
- Military technologies and applied sciences: fewer than 1,000 bachelor's degrees in 2021-22
- Library science: negligible bachelor's degrees awarded in 2021-22
- Theology and religious vocations: 8,000 bachelor's degrees in 2021-22
- Mechanic and repair technologies: minimal bachelor's degrees in 2021-22
- Precision production trades: virtually no bachelor's degrees in 2021-22
- Bachelor's degrees in transportation and materials moving: under 5,000 in 2021-22
- Personal and culinary services: 15,000 bachelor's degrees in 2021-22
- Construction trades: negligible bachelor's awards in 2021-22
Fields of Study and Majors Interpretation
While business (19%) leads the workforce and health (13%) tends to our bodies, the remaining graduates are shaping our minds, our tech, our laws, and our art—often with a side of avocado toast.
Graduation and Completion Rates
- 6-year graduation rate for first-time full-time bachelor's students at public four-year institutions was 64% for the 2015 cohort
- Private nonprofit four-year institutions had a 68% 6-year graduation rate for the 2015 entering bachelor's cohort
- For the 2014 cohort, 6-year completion rates at public four-year schools were 63% overall
- 8-year completion rate for bachelor's seekers at public four-year institutions reached 66% for 2013 cohort
- In 2020, 62% of bachelor's students starting in 2014 had completed within 6 years
- Black students' 6-year graduation rate at public four-year institutions was 46% for 2015 cohort
- Hispanic students achieved 55% 6-year graduation rate in public four-year bachelor's programs (2015 cohort)
- White students had a 67% 6-year graduation rate at public four-year institutions (2015 cohort)
- Asian students' 6-year rate was 77% in public four-year bachelor's programs (2015 cohort)
- First-generation college students had a 27% 6-year graduation rate at four-year institutions (2015 cohort)
- Continuing-generation students achieved 71% 6-year graduation rate at four-year schools (2015 cohort)
- Pell Grant recipients had 54% 6-year graduation rate at public four-year institutions (2015 cohort)
- Non-Pell students had 69% 6-year rate at public four-year bachelor's programs (2015 cohort)
- 150% normal time completion rate for bachelor's at public four-year was 38% for 2015 cohort
- 200% normal time completion rate was 63% for public four-year bachelor's (2015 cohort)
- From 2010 to 2015 cohorts, 6-year graduation rates at four-year institutions improved by 2 percentage points
- Private for-profit four-year institutions had 30% 6-year graduation rate for 2015 bachelor's cohort
- In 2019-20, 59% of bachelor's degrees were awarded to women at four-year institutions
- Men received 41% of bachelor's degrees in 2019-20
Graduation and Completion Rates Interpretation
Despite the overall national graduation rate stubbornly hovering around the low-to-mid sixties, a closer look reveals a stark and sobering tale of persistent inequality, where your family's wealth, race, and academic legacy remain stubbornly powerful predictors of your likelihood to walk across that stage.
Trends and Projections
- Bachelor's degree attainment projected to reach 42% for 25-29 year olds by 2030
- Undergraduate enrollment expected to decline 5% by 2030 due to demographics
- STEM bachelor's degrees projected to grow 8% from 2021-2031
- By 2031, 11.5 million job openings will require at least a bachelor's degree
- Female bachelor's attainment for 25-29 year olds projected at 45% by 2030
Trends and Projections Interpretation
We’re heading for a world where fewer students are enrolling but more are graduating, especially in STEM, as employers ramp up degree requirements—yet women are still on track to outpace men in earning their bachelor’s by 2030.
Sources & References
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- Reference 3CENSUScensus.govVisit source
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- Reference 5BLSbls.govVisit source
- Reference 6NACEWEBnaceweb.orgVisit source
- Reference 7NEWYORKFEDnewyorkfed.orgVisit source