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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.
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
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
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
The full report could be found here - waring in Swedish
By Scancomark.com Team