Indiana workers with four-year degrees on average earn 64.3 percent more per year than workers with high school diplomas, the 33rd highest percentage among the 50 states and the District of Columbia, according to an analysis released last month.

The study by the Thomas B. Fordham Institute found that bachelor’s degree holders in the state make $80,723, while those with high school educations make on average $49,119 per year. Indiana workers with two-year degrees earn $55,667 on average, according to the analysis.

The study is the first of its kind to examine average earnings for full-time employees with different levels of education in jurisdictions around the nation, the institute said.

The evidence is clear that workers with four-year degrees earn more than those with two-year degrees or no post-secondary degrees, the researchers concluded. But how much of an advantage bachelor’s degree holders have varies according to where they live, the analysis found.

The earnings dividend for a bachelor’s degree over a high school diploma ranges from more than 100 percent to just over 21 percent, depending on the state. The study is based on data from the Census Bureau’s American Community Survey.

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Bachelor’s Degree Earnings Advantage by State

Rank	State	High School Graduate Average Annual Earnings	Associate Degree Average Annual Earnings	Bachelor's Degree Average Annual Earnings	Bachelor's Degree Pay Advantage over High School Diploma
1	Georgia	$45,247	$54,799	$90,952	101.0%
2	California	$55,158	$70,376	$108,932	97.5%
3	Washington, D.C.	$58,119	$64,221	$114,706	97.4%
4	New Jersey	$60,715	$72,908	$119,789	97.3%
5	Connecticut	$60,352	$71,594	$118,454	96.3%
6	Virginia	$50,581	$59,643	$98,225	94.2%
7	North Carolina	$43,924	$52,325	$83,363	89.8%
8	Illinois	$52,144	$62,266	$98,563	89.0%
9	Texas	$49,857	$62,118	$93,256	87.0%
10	Tennessee	$44,120	$53,545	$81,970	85.8%
11	Florida	$45,789	$55,085	$84,033	83.5%
12	South Carolina	$42,901	$52,637	$78,657	83.3%
13	Maryland	$56,427	$69,282	$102,694	82.0%
14	Massachusetts	$59,948	$70,539	$108,890	81.6%
15	Arizona	$48,925	$57,859	$88,104	80.1%
16	Michigan	$47,992	$57,585	$86,446	80.1%
17	Ohio	$47,836	$56,117	$85,332	78.4%
18	Minnesota	$51,597	$62,695	$91,856	78.0%
19	Pennsylvania	$50,160	$58,847	$89,278	78.0%
20	Kansas	$47,300	$55,238	$82,470	74.4%
21	Missouri	$46,366	$53,905	$80,743	74.1%
22	Kentucky	$46,683	$54,499	$80,076	71.5%
23	Colorado	$54,117	$59,923	$92,777	71.4%
24	New York	$54,526	$64,806	$110,867	71.1%
25	Oregon	$50,446	$58,876	$85,843	70.2%
26	Wisconsin	$48,848	$58,681	$82,623	69.1%
27	Utah	$52,606	$61,746	$88,860	68.9%
28	New Hampshire	$55,825	$64,635	$94,174	68.7%
29	Idaho	$47,184	$56,550	$79,114	67.7%
30	Washington	$59,413	$66,135	$99,331	67.2%
31	Arkansas	$45,296	$50,466	$75,492	66.7%
32	Alabama	$46,347	$53,315	$77,179	66.5%
33	Indiana	$49,119	$55,667	$80,723	64.3%
34	Rhode Island	$57,324	$63,647	$93,401	62.9%
35	Delaware	$54,523	$64,422	$88,754	62.8%
36	Nevada	$52,398	$60,366	$85,017	62.3%
37	Maine	$46,872	$53,560	$75,475	61.0%
38	Oklahoma	$46,779	$55,410	$74,250	58.7%
39	Nebraska	$49,744	$54,817	$77,968	56.7%
40	New Mexico	$44,481	$52,677	$69,470	56.2%
41	Louisiana	$50,033	$56,673	$77,226	54.4%
42	Hawaii	$52,684	$59,391	$80,236	52.3%
43	Vermont	$48,667	$59,112	$73,750	51.5%
44	Mississippi	$43,735	$49,041	$66,225	51.4%
45	Iowa	$51,233	$55,755	$77,259	50.8%
46	West Virginia	$47,145	$52,022	$69,652	47.7%
47	Montana	$50,906	$53,950	$68,455	34.5%
48	South Dakota	$51,574	$54,605	$69,053	33.9%
49	Alaska	$64,015	$70,539	$82,307	28.6%
50	North Dakota	$57,381	$62,146	$71,327	24.3%
51	Wyoming	$60,687	$58,872	$73,642	21.3%

Source: Thomas B. Fordham Institute