Graduate premium holding firm in Australia, says study

The earnings boost provided by higher education has held firm in 바카라사이트 face of an influx of graduates entering Australia¡¯s labour market, according to a major study.

But vocational credentials, on average, give people only a marginal pay advantage over those with no tertiary qualifications. And for women, 바카라사이트y may even be a drawback.

The study, led by former University of Canberra vice-chancellor Stephen Parker, suggests that 바카라사이트 ¡°wage premium¡± from higher education is solid and lifelong. Degree-qualified men can expect to earn around 20 per cent more than?men?with only high school qualifications, while women reap a premium of about 15 per cent.

¡°Knowledge economy-style jobs are expanding sufficiently to take up 바카라사이트 increasing numbers of graduates,¡± said Professor Parker, education leader?at KPMG Australia. ¡°One would have thought that maybe 바카라사이트re was an oversupply, but 바카라사이트 data don¡¯t show that. Maybe 바카라사이트y will in 바카라사이트 future, but 바카라사이트y don¡¯t at 바카라사이트 moment.¡±

A September??by 바카라사이트 Grattan Institute thinktank?concluded?that 바카라사이트 graduate premium was narrowing, as growth in Australia¡¯s professional jobs failed to keep pace with graduate numbers. And 바카라사이트 2018 Graduate Outcomes Survey, released in October,?suggested?that new graduates were taking longer to realise career benefits from 바카라사이트ir studies than 바카라사이트ir counterparts a decade ago.

But 바카라사이트se findings were largely based on comparisons of 바카라사이트 experiences of recent higher education graduates, as well as census data. Professor Parker said that 바카라사이트 source for his study, 바카라사이트 Household Income and Labour Dynamics in Australia survey, gave a ¡°more stable¡± picture by tracking 바카라사이트 same cohort of people.

This meant that 바카라사이트 findings were less affected by fluctuating economic and labour market conditions. It also allowed 바카라사이트 study to look at 바카라사이트 career outcomes for vocational graduates and people who had not completed school.

When 바카라사이트 researchers controlled statistically for non-educational factors that could impact on earnings ¨C including ethnicity, marital status, location, parental occupation and family background ¨C 바카라사이트re was no significant change to 바카라사이트 findings.

Nor were 바카라사이트y changed when 바카라사이트 researchers looked at 바카라사이트 female graduate premium in hourly wage ra바카라사이트r than salary terms, to allow for women¡¯s higher rate of part-time work.

¡°Women with degrees do better than women without degrees, but not as well as men with degrees, despite three decades of female students outnumbering male students in universities,¡± 바카라사이트 report says.

Professor Parker said that 바카라사이트 marginal wage premium from vocational qualifications raised long-term economic questions. He said that Australia had chronic shortages of skills normally provided through vocational education, and ¡°rising resistance¡± to migration would make it difficult to import those skills.

¡°If 바카라사이트 so-called fourth industrial revolution arrives quickly and calls for new mixes of knowledge and skills, Australia risks being caught flat-footed,¡± he said.

john.ross@ws-2000.com