The general expectation is that blue collar jobs pay more at the beginning, and white collar jobs pay more at the end. So at 20, the white-collar college student is eating ramen and wearing thrift store clothes and the blue collar worker is already making a decent salary, driving a new car, thinking about buying a home. At 40, the white collar worker is doing well, has a house and a car and a family, and the blue collar worker is about the same. At 55, the white collar worker is in the prime of their career living comfortably, making very good money, and achieving a level of prestige while the blue collar worker is living about the same life they had at 40, but with more physical ailments slowing their working ability.

This is what has traditionally been believed and does not necessarily represent reality, but it explains the tradeoffs each route offers.