It’s common knowledge at this point that the more education you have, the more money you’ll make. Studies have shown that, on average, someone with a bachelor’s degree will earn more than someone with an associate degree or a yearlong certificate.

But according to new research released on Thursday, there are also a lot of exceptions.

A new study from Georgetown University’s Center on Education and the Workforce finds a growing number of people without a bachelor’s degree are now out-earning those with one. The study found that in the years 2017 through 2019, on average, 16% of high school graduates, 23% of workers with some college and 28% of associate degree holders earned more money than half of all workers with a bachelor’s degree.

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