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Posted on 2009-10-15 in
Figures show graduates are more likely to be better paid
Graduate Incomes

Figures show graduates are more likely to be better paid

THE case for reintroducing some form of college fees could be bolstered by latest graduate employment figures showing those with a third-level degree are more likely to be working and to be higher paid. Although the Higher Education Authority (HEA) statistics relates to those who completed third-level education in 2007 and their status in April 2008, it reports that preliminary statistics for last year's graduates show they are less likely to be unemployed than the general population.

However, even the class of 2007 figures show signs of the early days of the global recession, as the proportion of degree-holders seeking work nine months after graduation rose by one-third from a year earlier. The figure of 3% looking for employment is low however compared to a 5.5% national unemployment rate at the time, a point the HEA said clearly indicates the advantage of obtaining a third-level qualification before entering the labour market.

The proportion of level 8 (honours bachelor) degree graduates who had gained employment when surveyed fell from 58% a year earlier to 55%, with 36% undertaking further study and 6% unavailable for work or study.

As a series of Union of Students in Ireland protests against fees kicks off at University College Cork today, the HEA report also revealed that graduate salaries increase with higher qualifications. Average starting salaries for holders of a level 8 degree were in the €21,000-€25,000 range but those with a PhD start on average salaries more than €45,000.

"These figures confirm the benefits of a third level education to the individual. Quite simply, a graduate is more likely to find sustainable employment and to be better paid than a non-graduate," said HEA chief executive Tom Boland.

This earnings premium is one of the arguments made by those who favour the reintroduction of college fees, being proposed by Education Minister Batt O'Keeffe but which is also a key obstacle to the Green Party staying in Government according to a leaked wish-list of its demands to Fianna Fáil negotiators.

While Mr O'Keeffe is known to favour a loans system under which graduates would repay most of the cost of their tuition once they begin earning a certain income, the policies of his own party and the Greens oppose any change to the free tuition fees system in place for the last 15 years.

The HEA said preliminary results for its 2008 graduate survey, which shows the situation of graduates in April this year, show employment opportunities for graduates have deteriorated over the course of the year, with increases in the numbers seeking employment. However, it claimed the figures show the proportion seeking employment is still lower than the national average.

As well as an increase in graduate unemployment, there has also been an increase in the numbers who graduated last year taking on further studies to improve their qualifications.

The class of 2007 survey showed more graduates secured work in the public sector than any other area of employment, with a significant drop in the numbers who had found work in building and construction after graduating two years ago.
 
 
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