The economic returns to field of study and competencies among higher education graduates in Ireland
AbstractThis paper looks at the economic returns to different fields of study in Ireland in 2004 and also the value placed on various job-related competencies, accumulated on completion of higher education, in the Irish labour market. In examining these issues, the paper also analyses, through quantile regression, how the returns vary across the earnings distribution. The impact that education-job mismatch, both education level and field, has on earnings is also taken into consideration. The results derived indicate that, relative to the base case, there are higher returns to Medicine & Veterinary, Education, Engineering & Architecture, Science and Computers & IT. Small but significant returns were found for some of the competencies analysed, in particular technical skills. The quantile regression analysis reveals that both field and competency returns vary across the wage distribution and that, apart from Medicine & Veterinary and technical skills, field and competency-specific returns diminish as one moves up the earnings distribution.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Economics of Education Review.
Volume (Year): 29 (2010)
Issue (Month): 4 (August)
Contact details of provider:
Web page: http://www.elsevier.com/locate/econedurev
Field of study Competencies Returns to education Quantile regression;
Other versions of this item:
- Elish Kelly & Philip O'Connell & Emer Smyth, 2008. "The Economic Returns to Field of Study and Competencies Among Higher Education Graduates in Ireland," Papers WP242, Economic and Social Research Institute (ESRI).
- I20 - Health, Education, and Welfare - - Education - - - General
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Arcidiacono, Peter, 2004.
"Ability sorting and the returns to college major,"
Journal of Econometrics,
Elsevier, vol. 121(1-2), pages 343-375.
- Ana I Moro-Egido & Santiago Budría, .
"Overeducation and Wages in Europe: Evidence from Quantile Regression,"
Studies on the Spanish Economy
- Ana I. Moro Egido & Santiago Budría, 2007. "Overeducation and Wages in Europe: Evidence from Quantile Regression," Economic Working Papers at Centro de Estudios Andaluces E2007/04, Centro de Estudios Andaluces.
- Jeff Grogger & Eric Eide, 1995. "Changes in College Skills and the Rise in the College Wage Premium," Journal of Human Resources, University of Wisconsin Press, vol. 30(2), pages 280-310.
- Altonji, Joseph G, 1993.
"The Demand for and Return to Education When Education Outcomes Are Uncertain,"
Journal of Labor Economics,
University of Chicago Press, vol. 11(1), pages 48-83, January.
- Joseph G. Altonji, 1991. "The Demand for and Return to Education When Education Outcomes are Uncertain," NBER Working Papers 3714, National Bureau of Economic Research, Inc.
- James, Estelle, et al, 1989. "College Quality and Future Earnings: Where Should You Send Your Child to College?," American Economic Review, American Economic Association, vol. 79(2), pages 247-52, May.
- Blundell, Richard, et al, 2000. "The Returns to Higher Education in Britain: Evidence from a British Cohort," Economic Journal, Royal Economic Society, vol. 110(461), pages F82-99, February.
- Robst, John, 2007. "Education and job match: The relatedness of college major and work," Economics of Education Review, Elsevier, vol. 26(4), pages 397-407, August.
- Thomas N. Daymonti & Paul J. Andrisani, 1984. "Job Preferences, College Major, and the Gender Gap in Earnings," Journal of Human Resources, University of Wisconsin Press, vol. 19(3), pages 408-428.
- Sloane, Peter J. & O'Leary, Nigel C., 2004.
"The Return to a University Education in Great Britain,"
IZA Discussion Papers
1199, Institute for the Study of Labor (IZA).
- Nigel C. Oâ€™Leary & Peter J. Sloane, 2005. "The Return to a University Education in Great Britain," National Institute Economic Review, National Institute of Economic and Social Research, vol. 193(1), pages 75-89, July.
- Buchinsky, Moshe, 1994. "Changes in the U.S. Wage Structure 1963-1987: Application of Quantile Regression," Econometrica, Econometric Society, vol. 62(2), pages 405-58, March.
- Rumberger, Russell W. & Thomas, Scott L., 1993. "The economic returns to college major, quality and performance: A multilevel analysis of recent graduates," Economics of Education Review, Elsevier, vol. 12(1), pages 1-19, March.
- Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4 National Bureau of Economic Research, Inc.
- W. Norton Grubb, 1993. "The Varied Economic Returns to Postsecondary Education: New Evidence from the Class of 1972," Journal of Human Resources, University of Wisconsin Press, vol. 28(2), pages 365-382.
- Kelly, Elish & McGuinness, Seamus & O'Connell, Philip J., 2009. "The Public-Private Sector Pay Gap in Ireland: What Lies Beneath?," Papers WP321, Economic and Social Research Institute (ESRI).
- Russell W. Rumberger, 1980. "The Economic Decline of College Graduates: Fact or Fallacy?," Journal of Human Resources, University of Wisconsin Press, vol. 15(1), pages 99-112.
- Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
- Finnie, Ross & Frenette, Marc, 2003. "Earning differences by major field of study: evidence from three cohorts of recent Canadian graduates," Economics of Education Review, Elsevier, vol. 22(2), pages 179-192, April.
- Dolton, Peter & Vignoles, Anna, 2000. "The incidence and effects of overeducation in the U.K. graduate labour market," Economics of Education Review, Elsevier, vol. 19(2), pages 179-198, April.
- Seamus McGuinness, 2003. "University quality and labour market outcomes," Applied Economics, Taylor & Francis Journals, vol. 35(18), pages 1943-1955.
- McGuinness, Seamus & Bennett, Jessica, 2007. "Overeducation in the graduate labour market: A quantile regression approach," Economics of Education Review, Elsevier, vol. 26(5), pages 521-531, October.
- O'Connell, Philip J. & Russell, Helen, 2006. "Does it Pay to Go Public? Public/Private Wage Differences among Recent Graduates in Ireland," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 2006(3-Autumn), pages 64-79.
- S. Mcguinness, 2003. "Graduate overeducation as a sheepskin effect: evidence from Northern Ireland," Applied Economics, Taylor & Francis Journals, vol. 35(5), pages 597-608.
- Barbara S. Grave & Katja Goerlitz, 2012.
"Wage differentials by field of study -- the case of German university graduates,"
Taylor & Francis Journals, vol. 20(3), pages 284-302, March.
- Katja Görlitz & Barbara S. Grave, 2012. "Wage Differentials by Field of Study – The Case of German University Graduates," Ruhr Economic Papers 0316, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
- Polona Domadenik & Dasa Farcnik, 2011. "Did Bologna reform improve school-to-work transition of graduates? Evidence from Slovenia," Investigaciones de Economía de la Educación volume 6, in: Antonio Caparrós Ruiz (ed.), Investigaciones de Economía de la Educación 6, edition 1, volume 6, chapter 40, pages 649-665 Asociación de Economía de la Educación.
- Delaney, Liam & Harmon, Colm & Redmond, Cathy, 2011.
"Parental education, grade attainment and earnings expectations among university students,"
Economics of Education Review,
Elsevier, vol. 30(6), pages 1136-1152.
- Delaney, Liam & Harmon, Colm P. & Redmond, Cathy, 2011. "Parental Education, Grade Attainment and Earnings Expectations among University Students," IZA Discussion Papers 5646, Institute for the Study of Labor (IZA).
- Teijeiro, Mercedes & Rungo, Paolo & Freire, Mª Jesús, 2013. "Graduate competencies and employability: The impact of matching firms’ needs and personal attainments," Economics of Education Review, Elsevier, vol. 34(C), pages 286-295.
- Daniela Glocker & Johanna Storck, 2012. "Risks and Returns to Educational Fields: A Financial Asset Approach to Vocational and Academic Education," Discussion Papers of DIW Berlin 1240, DIW Berlin, German Institute for Economic Research.
- Ali Ait Si Mhamed & Rita Kaša & Zane Cunska, 2012. "Student debt levels and income of University of Latvia graduates: Prospects for income-contingent loan repayment by the field of studies and gender," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 12(2), pages 73-88, December.
- Hong-Kyun Kim & Seung C. Ahn & Jihye Kim, 2012. "Vertical and Horizontal Education-Job Mismatches in the Korean Youth Labor Market : A Quantile Regression Approach," Working Papers 1201, Research Institute for Market Economy, Sogang University.
- McGuinness, Seamus & Sloane, Peter J., 2011.
"Labour market mismatch among UK graduates: An analysis using REFLEX data,"
Economics of Education Review,
Elsevier, vol. 30(1), pages 130-145, February.
- McGuinness, Seamus & Sloane, Peter J., 2009. "Labour Market Mismatch Among UK Graduates: An Analysis Using REFLEX Data," IZA Discussion Papers 4168, Institute for the Study of Labor (IZA).
- Seamus McGuinness & Peter J. Sloane, 2009. "Labour Market Mismatch Among UK Graduates; An Analysis Using REFLEX Data," Papers WP294, Economic and Social Research Institute (ESRI).
- Atiq-Ur-Rehman & Hafsa Anis & Saud Ahmed Khan, 2009.
"Skill Shortage versus Subject Choice: Case of Pakistan,"
The Pakistan Development Review,
Pakistan Institute of Development Economics, vol. 48(4), pages 487â496.
- Atiq, Atiq-ur-Rehman & Anis, Hafsa & Khan, Saud Ahmed, 2009. "Skill Shortage versus Subject Choice, Case of Pakistan," MPRA Paper 18298, University Library of Munich, Germany.
- Brady, Gerard, 2013. "Network social capital and labour market outcomes Evidence from Ireland," MPRA Paper 47391, University Library of Munich, Germany.
- Daša Farcnik & Polona Domadenik, 2012. "Has the Bologna reform enhanced the employability of graduates? Early evidence from Slovenia," International Journal of Manpower, Emerald Group Publishing, vol. 33(1), pages 51-75, June.
- Liu, Liqun & Neilson, William S., 2011. "High scores but low skills," Economics of Education Review, Elsevier, vol. 30(3), pages 507-516, June.
- Sánchez-Sánchez, Nuria & McGuinness, Seamus, 2011. "Decomposing the Impacts of Overeducation and Overskilling on Earnings and Job Satisfaction: An Analysis Using REFLEX data," Papers WP393, Economic and Social Research Institute (ESRI).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.