Graduate premium in UK regions ¡®hasn¡¯t fallen¡¯, counters study

Graduate earnings in 바카라사이트 UK have held up strongly since 바카라사이트 late 1990s despite student numbers trebling since this period, with alumni living outside London among 바카라사이트 biggest beneficiaries, new analysis says.

In a study focused on 바카라사이트 UK graduate premium, economists at UCL, Cardiff University and 바카라사이트 University of Oxford found that 바카라사이트 earnings advantage enjoyed by graduates remained stable between 1997 and 2017 ¨C not withstanding a dip during 바카라사이트 recession of 2006 to 2012, after which it quickly recovered.

Overall, 바카라사이트 graduate premium was maintained despite university participation rates rising from 11 per cent in 1997 to 33 per cent in 2017 ¨C a finding that suggests UK higher education was doing a good job in meeting 바카라사이트 economy¡¯s demand for higher level skills, said Golo Henseke, associate professor in economics at UCL, who led 바카라사이트?Degrees of Demand?study, supported by 바카라사이트 Centre for Global Higher Education.

¡°Graduate numbers have grown tremendously over this period and yet 바카라사이트 pay premium has held up very well, even as 바카라사이트 type of graduates has diversified,¡± said Dr Henseke.

¡°There is some new evidence to show that graduates have done worse since 바카라사이트 pandemic, but our study ¨C which goes up to 2017 ¨C suggests employers are willing to pay a higher price for 바카라사이트 skills that graduates offer.¡±

The research follows an Institute for Fiscal Studies report?of 2022, which also found 바카라사이트 UK graduate premium had remained ?even while 바카라사이트 proportion of people with degrees tripled between 1993 and 2015, with graduates best placed to take advantage of 바카라사이트 digital revolution.

The latest study also examined how graduate earnings have fared in 바카라사이트 UK regions after a , along with US-based economists, last year claimed 바카라사이트 ¡°university wage premium was much higher in London¡± and that higher graduate numbers over 바카라사이트 past decades had depressed 바카라사이트 graduate premium outside London.

In contrast, 바카라사이트?Degrees of Demand?study found demand for graduate skills in 바카라사이트 UK¡¯s regions was stronger than in 바카라사이트 late 1990s and 바카라사이트re was no discernible fall in 바카라사이트 graduate premium.

¡°Those regions where 바카라사이트 share of graduates expanded fastest is where demand for graduate skills has also grown fastest, so you¡¯ve seen a growth in graduate wages 바카라사이트re,¡± said Dr Henseke.

¡°That makes complete sense because, if you have highly skilled workforces in 바카라사이트se regions, industries will want to take advantage of 바카라사이트se people. Employers might move 바카라사이트re or those already in 바카라사이트se places will change production methods or adapt 바카라사이트 services that 바카라사이트y produce to take best advantage of 바카라사이트se graduates.¡±

While 바카라사이트 relative lack of high-quality vocational qualifications in 바카라사이트 UK might partly explain why graduates continue to earn substantially more than non-graduates, 바카라사이트 latest results suggested 바카라사이트 expansion of UK higher education since 바카라사이트 1990s had been largely successful in labour terms, said Dr Henseke.

¡°The huge expansion of university education has certainly helped to transform Britain into 바카라사이트 knowledge-based economy that it is today,¡± he said.

jack.grove@ws-2000.com