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The economic returns to field of study and competencies among higher education graduates in Ireland

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  • Kelly, Elish
  • O'Connell, Philip J.
  • Smyth, Emer

Abstract

This 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.

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Bibliographic Info

Article provided by Elsevier in its journal Economics of Education Review.

Volume (Year): 29 (2010)
Issue (Month): 4 (August)
Pages: 650-657

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Handle: RePEc:eee:ecoedu:v:29:y:2010:i:4:p:650-657

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Web page: http://www.elsevier.com/locate/econedurev

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Keywords: Field of study Competencies Returns to education Quantile regression;

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References

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Citations

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Cited by:
  1. 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.
  2. 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.
  3. 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.
  4. Brady, Gerard, 2013. "Network social capital and labour market outcomes Evidence from Ireland," MPRA Paper 47391, University Library of Munich, Germany.
  5. Barbara S. Grave & Katja Goerlitz, 2012. "Wage differentials by field of study -- the case of German university graduates," Education Economics, Taylor & Francis Journals, vol. 20(3), pages 284-302, March.
  6. 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 487–496.
  7. 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).
  8. 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.
  9. Tjaša Bartolj & Aleš AhCan & Aljoša Feldin & Sašo Polanec, 2013. "Evolution of private returns to tertiary education during transition: evidence from Slovenia," Post-Communist Economies, Taylor & Francis Journals, vol. 25(3), pages 407-424, September.
  10. 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).
  11. Lukasz Wiechetek & Nada Trunk Sirca, 2014. "Entrepreneurs’ Expectations and Students’ Competencies According to the First Stage of the Synergy Project Evaluation," International Journal of Management, Knowledge and Learning, International School for Social and Business Studies, Celje, Slovenia, vol. 3(1), pages 101-123.
  12. Liu, Liqun & Neilson, William S., 2011. "High scores but low skills," Economics of Education Review, Elsevier, vol. 30(3), pages 507-516, June.
  13. 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.
  14. Deryugina, Tatyana & Shurchkov, Olga, 2013. "Does Beauty Matter in Undergraduate Education?," MPRA Paper 53582, University Library of Munich, Germany.
  15. 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.
  16. 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).

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