The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

Competitiveness / Health



Fact: Higer Education not usually the best approach to a better life and good pay

Monday, 26 November 2012
As the economic crisis intensifies and the issue of globalisation becomes our economic main stay as cheap workers move to take jobs from traditionally more expensive workers, it has now become clear that high level of education would not in most cases lead to a better paying job and prosperous career.

Today's labour market requirement is placing ever-greater demands for higher education, forcing more people to believe that with higher education their future would be better. That has tended not to be the case as, for some academics professions, it take a long time before graduates to start looking at attaining some degree of purchasing power compared to industrial workers with little comparative education.

This traditional tenet that education always pays off with many people inculcated with that maxim has to a greater extent been challenged by some commentators given the growing unemployment rate among graduates. But politicians technically still encourage students to go for it, though the amount of students loving to take university course has gradually reduced.

A new finding  from the Swedish commercial bank, Swedbank in collaboration with the worker's union, Saco, show in a compilation professions that would pay off with lots of difficulties after graduation, when taxes, student loans and necessary expenses have been subtracted from periodic pays.  In these professions, graduates fare poorer than industrial workers who did not spend time and money on further education.

The report focuses on position that graduate obtain after three, six, and thirty years after graduation, and much look is also placed in female-dominated occupations, where it takes longer for a comprehensive education to pays off.

Secondary school teachers are the biggest losers when one compares their purchasing power compared to an industrial worker. However, three or six years after graduation, economists, engineers, natural scientists and social scientists in the private sector are identified to move around with large wallets whereas  for most other scholars, the situation relatively remain the same.
On the whole, the majority of graduates have a better purchasing power than the industrial worker. Almost, 60 percent would have more resources left after expenses. In general, real wages increases for those who graduated is later than those who did not. Best earners are those who work in the private sector and the pay gap between academics and industrial workers increased the longer the time since graduation, the report shows.

But at the same time, higher earners are taxed more making the difference in purchasing power favouring the industrial worker.

Three years after graduating lawyers had 60 percent more purchasing power than industrial workers while several professions came under industrial worker's level. For example, physiotherapist in 2011 had just 80 percent left of what industrial worker had in their wallet after all expenses. The occupational therapist and high school teacher were both left with about 85 percent of an industrial workers purchasing power had while an agronomist were at the same level as industrial worker.
The full report could be found here - waring in Swedish
By Team

Print Friendly and PDF