It is common knowledge for most that completing a university degree after school provides a better chance of increased opportunities and increased salaries post study. A recent article by Tim Dodd in the Australian Financial Review quantified this and highlighted the difference in employment opportunities and incomes between graduates and non-graduates.
I’ll break it down for you:
- At age 29, the unemployment rate for graduates is 3.4%, compared to 8% for non-graduates.
- Graduates can expect a greater increase in income in the first 5 years post degree (averaging 5.7% after inflation) and a greater continued increase over time.
- The biggest income gains were in Law, Agriculture, Creative Arts and Management & Commerce.
- Graduates have double the chance of rising to Chief Executive or General Manager position.
- 42% of graduates are in the top 20% of income earners after 20 years in the workforce, compared to <12% of non-graduates.
For further detail, follow the link below to the “Understanding Graduate Earnings” Policy Note.
Attending University opens the door to opportunity, whether that be in a small or large enterprise, or starting up your own business. At HSC CoWorks our coaches continually stretch and challenge our students, not just providing HSC Tuition, but preparing students for success after the HSC. We actively encourage students to look ahead not just to University but also to their dream career. Having this type of long term vision allows students to link the work that they are doing today with their HSC Campaign to longer term aspirations.
Source: Australian Financial Review; Understanding Graduate Earnings Policy Note