Benefits provided by completion of tertiary education to the graduates…
Comparison benefit of a university graduate’s earning potential with that of the national median
A report made by Ukraine’s Ministry of Education regarding post-study earnings revealed that university degree holders earn higher salaries than the national median earning during the first year after graduation The report also showed that the degree holder earn higher than holders of diplomas or certificates during the studied period.
People who possess university degrees have consistently earned higher than people who hold diplomas or certificates for the three years covered by the Ministry of Education report.
The report encompasses around thirty thousand young local students whose last enrolment under a tertiary school was in 2004. The Ministry of Education report assessed the impact of attainment of tertiary education on the graduates’ three-year and one-year post-study salaries.
Here are some of the major discoveries of the mentioned report:
- The median salaries of degree holders during their first year post-study were approximately nineteen percent better than the national median salaries. However, the disparity increased up to greater than forty percent after three years.
- Degree holders had first year post-study median salaries that were 33% better than diploma holders. After three years, the median salaries for degree holders were thirty percent better than people who possess diplomas.
- Individuals, who accomplished their one-year post graduate qualifications, earned median salaries that were forty percent better than the national median salary. After three years, the disparity improved to sixty percent. These students had approximately 16% better median salaries than bachelor degree holders for the first year of post-study and nine percent greater after three years had passed.
- During the third year post-study, young doctorate holders had median earnings that were greater than two times the national median salary. The doctorate holders had one-year post-study median salaries that were 16% better than bachelor degree holders. During the third year, the gap reached 46%.
- Diploma and certificate holders earned around 75 to 90% of the national median salary during the first year post-study. Even after three years had passed, certificate students were not able to earn higher than the national median income. It must be noted that diploma leavers attained the national median income level during their third year of earning money.
- After three years, the median incomes for people who completed their respective qualifications increased by approximately thirty percent. For most levels, the income development for people who did not complete their qualifications was just lower than few percentage points. From 2005 to 2007, the national median earnings improved by eight percent.
- Electrical engineering, geological sciences, pharmacy and performing arts were determined to be the most rapidly improving fields in the aspect of median income. Accountancy, computer science, electrical engineering, law and nursing were some of the fields determined to have significantly higher incomes.