Experts in workforce development often proclaim, “The more you learn, the more you earn!” This is very good advice. College-educated workers, as a group, earn more than people who have only a high school diploma, and much more than those without a diploma. But all types of education are not equal. What helps people get ahead is not simply “more” education, but the “right” education.

The average wage of college-educated workers is higher than that of workers without degrees. But what is true in the aggregate is not true for all. A lot of college grads fall below the high pay rates that the common wisdom promises them. And a surprising number of people with only a diploma and vocational training make out pretty well. For example, in Central Indiana, something like 29,640 people in occupations requiring a bachelor’s degree earn less than $20 an hour. Meanwhile, 55,865 workers in jobs requiring only moderate on-the-job training are making more than $20 an hour. The chart shows the wages earned by those two groups. The shaded area represents a range of jobs for which bachelor’s degree holders and high school graduates with only moderate-term on-the-job training earn equal wages. The bachelor’s advantage appears above $26 an hour, but a minority of bachelors earn above that level.

Some college-educated workers earn less than expected for a couple of reasons. Some occupations require a degree but pay little. And many workers with degrees are working at a job in which their education confers no advantage, because they couldn’t get into the field for which they studied. Indianapolis is not unique in this respect; national data show the same trend. A significant share of many low-skill, low-wage jobs are held by college-educated workers. Fifteen percent of the nation’s 4.3 million retail clerks across the country hold bachelor’s degrees even though that occupation does not require college.

Skill-based vocational training resulting in a certificate or an associate’s degree may be the best option for some people. College is still a great path, but for those who consider it, we should offer more meaningful information about which degrees pay off best for the greatest number of people.