A new study by the team at United Way of the National Capital Area is shining light on where a school diploma alone can offer strong earning potential and reveals that Arizona leads the nation in wage growth for high school graduates.

Their team of researchers analyzed median wages for jobs requiring only a high school diploma across all industries and adjusted them for cost of living using data from the Bureau of Labor Statistics and the Bureau of Economic Analysis. They also compared wage growth from 2022 to 2023 and examined how high school diploma earnings stack up against those with associate’s and bachelor’s degrees. Here’s what they found:

Where High School Diploma Wages Are Rising the Fastest

  1. Arizona – 12.29% increase ($40,360 in 2022 → $45,320 in 2023)
  2. Utah – 10.97% increase ($40,190 in 2022 → $44,600 in 2023)
  3. Nevada – 10.27% increase ($40,030 in 2022 → $44,140 in 2023)
  4. Nebraska – 9.76% increase ($40,270 in 2022 → $44,200 in 2023)
  5. North Carolina – 9.05% increase ($39,020 in 2022 → $42,550 in 2023)

Between the 2023-2024 and 2024-2025 academic years, in-state tuition rates at public universities rose by 4.4%, while out-of-state tuition and fees rose by 3%. For many ALICE (Asset Limited, Income Constrained, Employed) households, the rising cost of college in the U.S. has made higher education unattainable. However, in some states and industries, a high school diploma alone can still offer strong earning potential.

Using the most recent data from the Bureau of Labor Statistics (BLS) and the Bureau of Economic Analysis (BEA), we identified where a high school diploma provides the greatest financial returns, where wages for high school diploma holders are growing the fastest, and how their earnings compare to those with a bachelor’s degree—state by state. Additionally, alternative career paths like associate degrees, apprenticeships, and skilled trades are becoming increasingly viable options for economic mobility. Keep reading to see which places and industries offer the best financial outcomes for high school graduates.

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Key Findings

  • The 10 places where a high school diploma goes the farthest are North Dakota, Wyoming, D.C., Iowa, Alaska, Montana, Wisconsin, Nebraska, Indiana, and Colorado.
  • In Kentucky, Indiana, Mississippi, and Wisconsin, over 41% of all jobs require no more than a high school diploma—the highest percentage in the nation.
  • Nationally, median wages for jobs requiring only a high school diploma increased by nearly 20% across industries from 2019 to 2023 (from $37,930 to $45,040). 
  • Median wages for jobs requiring only a high school diploma saw the fastest year-over-year growth (2022–2023) in Arizona (+12.3%), Utah (+11.0%), Nevada (+10.3%), and Nebraska (+9.8%).
  • Nationally, high school diploma earners bring in 54.6% of what bachelor’s degree holders make. In North Dakota and Wyoming, high school diploma earners bring in 65% of what bachelor’s degree holders make, indicating stronger earning potential for those without a college degree in these states.

Where a High School Diploma Stretches the Furthest

a U.S. map plotting the top 10 states that pay the most and least to workers with high school diplomas.

While wages for high school diploma holders vary across the country, the actual value of their paychecks depends on the cost of living in each state. To determine where a high school diploma offers the strongest financial return, we calculated an adjusted median annual wage in each state—which is the median annual wage modified to account for cost of living differences—showing where high school graduates’ earnings stretch the furthest.

Where a High School Diploma Pays Off the Most

  1. North Dakota – Adjusted Median Annual Wage: $54,628
  2. Wyoming – Adjusted Median Annual Wage: $52,478
  3. District of Columbia – Adjusted Median Annual Wage: $51,832
  4. Iowa – Adjusted Median Annual Wage: $51,532
  5. Alaska – Adjusted Median Annual Wage: $50,324

In North Dakota, high school graduates earn a median annual wage of $48,400, but with the state’s low cost of living (index: 88.6), their income has an effective purchasing power of $54,628—the highest in the nation. Wyoming follows closely, with an adjusted median annual wage of $52,478, making it another stronghold for high school diploma holders.

Notably, the District of Columbia ranks third despite its high living costs (index: 110.8). With a median annual wage of $57,430 and an adjusted wage of $51,832, D.C. still offers a competitive return for high school graduates. This highlights the availability of well-paying jobs for high school diploma holders in the capital region. 

While D.C. is not a state, the Bureau of Labor Statistics treats it as a state-equivalent reporting area because it functions like one in terms of labor market, wages, and employment data. However, because D.C. is a compact urban area rather than a broad state economy, its wages tend to run higher than those in other states — even when adjusting for the cost of living.

Rounding out the top five, Iowa and Alaska also offer strong earning potential for high school graduates. In Iowa, a median annual wage of $45,760 combined with a low cost of living (index: 88.8) gives diploma holders an adjusted income of $51,532, making it one of the best states for financial stability without a degree. Meanwhile, Alaska stands out with one of the highest raw median wages ($51,180) among high school graduates. Despite its higher cost of living (index: 101.7), Alaskans still see an adjusted wage of $50,324, securing the state a spot in the top five.