Asia > Southern Asia > Afghanistan > Higher earning Why a university degree is worth more in some countries than others

Afghanistan: Higher earning Why a university degree is worth more in some countries than others

2016/12/11

A university education may expand your mind. It will as well fatten your wallet. Data from the OECD, a club of rich nations, show that graduates can expect far better lifetime earnings than those without a degree.

The size of this premium varies. It is greatest in Ireland, which has a high GDP per chief and rising inequality. Since 2000 the unemployment rate for under-35s has swelled to 8% for those with degrees – but to additional than 20% for those without, and nearly 40% for secondary school drop-outs. The country’s wealth presently goes disproportionately to workers with letters next their names.

Low gain taxes help. Irish graduates keep most of their earnings, as do Americans. Students in the United States as well reap hefty returns due to a shortage of skilled labour (chart, below). Request is substantial: the use of maths in the workplace is 10% better than the OECD average. The supply is limited, since Americans are not particularly numerate. College graduates stand to gain.

Students in former Eastern Bloc nations as well benefit from scarcity in the labour market, thanks to a historical lack of tertiary education. On average, one in four 55-year-olds in an OECD country has a degree. In Poland, Slovakia, Slovenia and the Czech Republic it is closer to one in seven. But the university gates have opened wide: the proportion of Poles aged 25-34 with a degree tripled between 2000 and 2012.

Freshmen in Benelux and Nordic nations have less to celebrate. Getting a degree in these nations takes a long time, and therefore means missing out on additional wages. The general people is well-educated and taxes are high. The boost in earnings for a Norwegian graduate is half as large as for a Czech, and he will pay 50% additional into the government’s coffers.

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