Dumbo Feather
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Careers

Postgraduate Education Equals More Pay - Report


Monday, 29th October 2012 at 9:41 am
Staff Reporter
Australians with postgraduate degrees will earn almost double in their working lives than their less educated counterparts, according to a new report.

Monday, 29th October 2012
at 9:41 am
Staff Reporter


1 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Postgraduate Education Equals More Pay - Report
Monday, 29th October 2012 at 9:41 am

Australians with postgraduate degrees will earn almost double in their working lives than their less educated counterparts, according to a new report.

The latest AMP.NATSEM report reveals that those with postgraduate degrees will earn $3.2 million compared to workers with Year 11 or less earning only $1.7 million.

However women in the workplace are still facing wages inequality with woman with the report finding that a 25-year-old woman with a postgraduate degree can expect to earn just two thirds of her male counterpart’s lifetime earnings – $2.5 million compared to $3.2 million.

The report, which explores education and innovation in Australia, also found that there has been a “massive” generational shift in educational attainment in Australia, with 77% of students now completing Year 12, up from 45 per cent in 1984.

It also found that more than 44% of 25-34 year olds have completed tertiary studies, compared to just 30% of 55-64 year olds.

AMP Financial Services managing director Craig Meller said it has never been clearer that gaining an education pays off in future earnings.

“The report shows a person with a Bachelor Degree will also receive a high return on education, earning almost 1.7 times someone with Year 11 or below,” Meller said.

“Australians are willing to go the extra mile to make sure their children receive the best possible education.

“A well-resourced education system and a culture of innovation are crucial components of Australia’s enviable lifestyle and investing in both will help ensure our nation is a truly lucky country.”

The report found that while educational standards have been increasing, education is not yet for all with only 15% of all university students coming from low socio-economic backgrounds, short of the Federal Government’s target of 20%.

The lead author of the report Rebecca Cassells said Australians are efficient educators, spending just below the OECD average on education but ranking high in international standards.

Cassells says this raises the question, how might Australia fare with further spending on education?

“Australia’s educational achievements are impressive but there are gaps to be narrowed around access to education and differences in educational achievement across the states,” Cassells said.

“Women are also losing out with considerably lower lifetime earnings than men, partly due to lifestyle factors, such as taking time out of the workforce to raise children, but gender inequality is still a big factor in the equation.”

 




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Get more stories like this

FREE SOCIAL
SECTOR NEWS

One Comment

  • Anonymous Anonymous says:

    Postgraduate education equals more pay, screams the headline!
    Duh – ya think?!
    And women earn less than men?! Shock horror.
    Tell us something we don’t know.

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Placing a value on learning – the great divide in Australia

David Crosbie

Thursday, 12th September 2019 at 8:51 am

Time for a pay rise? This is how you ask for it.

Maggie Coggan

Monday, 2nd September 2019 at 8:19 am

The social enterprise tackling loneliness and connecting communities

Maggie Coggan

Monday, 19th August 2019 at 8:24 am

Career change mindset hack: Understanding your money mindset

Clare Desira

Monday, 19th August 2019 at 8:23 am

POPULAR

Disability royal commission faces boycott threat

Luke Michael

Monday, 16th September 2019 at 4:37 pm

Eight things you need to know about the future of legacy giving

Wendy Williams

Thursday, 12th September 2019 at 8:27 am

Disability pension pushing Indigenous Australians into poverty

Maggie Coggan

Wednesday, 18th September 2019 at 5:26 pm

Dumbo Feather
pba inverse logo
Subscribe Twitter Facebook
dumbofeather

Giveaway time! Simply enter your email for your chance to win a Limited Edition Gift Bundle from our friends at Dumbo Feather.

 Count me in 

You have Successfully Subscribed!