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Differences by degree: Evidence of the net financial rates of return to undergraduate study for England and Wales

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  • Walker, Ian
  • Zhu, Yu

Abstract

This paper provides estimates of the impact of higher education qualifications on the earnings of graduates in the U.K. by subject studied. We use data from the recent U.K. Labour Force Surveys which provide a sufficiently large sample to consider the effects of the subject studied, class of first degree, and postgraduate qualifications. Ordinary Least Squares estimates show high average returns for women that does not differ by subject. For men, we find very large returns for Law, Economics and Management but not for other subjects. Degree class has large effects in all subjects suggesting the possibility of large returns to effort. Postgraduate study has large effects, independently of first degree class.

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Bibliographic Info

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

Volume (Year): 30 (2011)
Issue (Month): 6 ()
Pages: 1177-1186

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Handle: RePEc:eee:ecoedu:v:30:y:2011:i:6:p:1177-1186

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

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Keywords: Rate of return; College premium;

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References

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  1. Nigel C. O’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.
  2. Iftikhar Hussain & Sandra McNally & Shqiponja Telhaj, 2009. "University Quality and Graduate Wages in the UK," CEE Discussion Papers 0099, Centre for the Economics of Education, LSE.
  3. Kathy Cannings & Sophie Mahseredjian & Claude Montmarquette, 1997. "How Do Young People Choose College Majors ?," CIRANO Working Papers 97s-38, CIRANO.
  4. Eide, Eric & Brewer, Dominic J. & Ehrenberg, Ronald G., 1998. "Does it pay to attend an elite private college? Evidence on the effects of undergraduate college quality on graduate school attendance," Economics of Education Review, Elsevier, vol. 17(4), pages 371-376, October.
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  1. Gove vs Cowell: an old dilemma
    by chris dillow in Stumbling and Mumbling on 2013-11-16 11:05:30
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Cited by:
  1. Jo Blanden & Lindsey Macmillan, 2014. "Education and Intergenerational Mobility: Help or Hindrance?," DoQSS Working Papers 14-01, Department of Quantitative Social Science - Institute of Education, University of London.
  2. MORIKAWA Masayuki, 2012. "Postgraduate Education and Human Capital Productivity in Japan," Discussion papers 12009, Research Institute of Economy, Trade and Industry (RIETI).
  3. Lindsey Macmillan & Claire Tyler & Anna Vignoles, 2013. "Who gets the Top Jobs? The role of family background and networks in recent graduates' access to high status professions," DoQSS Working Papers 13-15, Department of Quantitative Social Science - Institute of Education, University of London.
  4. Lindley, Joanne, 2012. "The gender dimension of technical change and the role of task inputs," Labour Economics, Elsevier, vol. 19(4), pages 516-526.
  5. Denny, Kevin & Doyle, Orla & O’Reilly, Patricia & O’Sullivan, Vincent, 2010. "Money, Mentoring and Making Friends : The Impact of a Multidimensional Access Program on Student Performance," The Warwick Economics Research Paper Series (TWERPS) 932, University of Warwick, Department of Economics.
  6. Tjaša Bartolj & Aleš Ahcan & Aljoša Feldinb & Sašo Polanec, 2012. "Evolution of Private Returns to Tertiary Education during Transition: Evidence from Slovenia," LICOS Discussion Papers 31412, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  7. MORIKAWA Masayuki, 2013. "Postgraduate Education, Labor Participation, and Wages: An empirical analysis using micro data from Japan," Discussion papers 13065, Research Institute of Economy, Trade and Industry (RIETI).
  8. Andrew Mearman & Aspasia Papa & Don Webber, 2014. "Why do Students Study Economics?," Economic Issues Journal Articles, Economic Issues, vol. 19(1), pages 119-147, March.
    • Andrew Mearman & Aspasia Papa & Don J. Webber, 2013. "Why do students study economics?," Working Papers 20131303, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
  9. Javier Valbuena, 2012. "A Longitudinal Perspective on Higher Education Participation in the UK," Studies in Economics 1215, Department of Economics, University of Kent.

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