The answer below is correct in the general sense - BUT, nobody can tell you that you would earn more with the ad program.
That is pure speculation. You would need to join the ad program, and do a lot of experimentation yourself to decide.
I personally think that I do better on this site WITH the ad program - but that in large part has to do with the KIND OF CONTENT that I produce here.
On some other sites...I do things differently.
The type of content you create makes all the difference. If you really do a lot of research in keywords and how ads are targeted for those keywords, and then you knock one out of the park with a spectacular hub, and that is the way you do things.....Adsense would probably make you more money.
Me...not so much. I do not research keywords, and I don't think "well, ads aren't targeted well with adsense on this subject...so I'm not going to write about killer whales..."
NO - that isn't how I do things here - if I want to write about killer whales, then that is damn sure what I will do, so the ad program is what I use here.
Think about it....
You have to experiment, and reflect on what kind of things you are creating here.