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Individual Choice and Risk: The Case of Higher Education.

Brynin M - Sociology (2013)

Bottom Line: This makes the educational decision more difficult and more risky, especially with more of the cost of higher education being transferred to the individual.After a discussion of the nature of risk, derived from Beck, and of the role of government policy and of economics in obscuring this, the analysis uses simple quantitative techniques, based on British Labour Force Survey data, to demonstrate the increased fuzziness of graduate work.It is also shown that a rising proportion of graduates receive only average pay, thus raising the risks associated with educational investments even further.

View Article: PubMed Central - PubMed

Affiliation: University of Essex, UK.

ABSTRACT
The expansion of higher education raises the risk environment for school-leavers as more occupations become partially graduate with the result that occupational signals are fuzzy. This makes the educational decision more difficult and more risky, especially with more of the cost of higher education being transferred to the individual. After a discussion of the nature of risk, derived from Beck, and of the role of government policy and of economics in obscuring this, the analysis uses simple quantitative techniques, based on British Labour Force Survey data, to demonstrate the increased fuzziness of graduate work. It is also shown that a rising proportion of graduates receive only average pay, thus raising the risks associated with educational investments even further.

No MeSH data available.


Related in: MedlinePlus

Distribution of hourly pay for graduates and school-leavers with A-levels (upper service class).
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fig2-0038038512444814: Distribution of hourly pay for graduates and school-leavers with A-levels (upper service class).

Mentions: This therefore does not mean that all graduates have done badly; rather, the ranks of the graduate sector have been so swelled that they now include many poorly paid people – they affect the mean far more than the median. Any class, and especially the simple label ‘service class’, masks very substantial heterogeneity in terms of wages. To return to the analysis shown in Figure 1, which compared the wage distribution of graduates in employment to that of school-leavers with A-levels, the same is undertaken in Figure 2 for employees in the upper service class only. Here the distributions overlap very considerably. It makes little difference to the majority of people in the USC whether they have a degree or not; a degree helps get a job in the USC but confers little further wage advantage.


Individual Choice and Risk: The Case of Higher Education.

Brynin M - Sociology (2013)

Distribution of hourly pay for graduates and school-leavers with A-levels (upper service class).
© Copyright Policy - open-access
Related In: Results  -  Collection

License 1 - License 2 - License 3
Show All Figures
getmorefigures.php?uid=PMC4232327&req=5

fig2-0038038512444814: Distribution of hourly pay for graduates and school-leavers with A-levels (upper service class).
Mentions: This therefore does not mean that all graduates have done badly; rather, the ranks of the graduate sector have been so swelled that they now include many poorly paid people – they affect the mean far more than the median. Any class, and especially the simple label ‘service class’, masks very substantial heterogeneity in terms of wages. To return to the analysis shown in Figure 1, which compared the wage distribution of graduates in employment to that of school-leavers with A-levels, the same is undertaken in Figure 2 for employees in the upper service class only. Here the distributions overlap very considerably. It makes little difference to the majority of people in the USC whether they have a degree or not; a degree helps get a job in the USC but confers little further wage advantage.

Bottom Line: This makes the educational decision more difficult and more risky, especially with more of the cost of higher education being transferred to the individual.After a discussion of the nature of risk, derived from Beck, and of the role of government policy and of economics in obscuring this, the analysis uses simple quantitative techniques, based on British Labour Force Survey data, to demonstrate the increased fuzziness of graduate work.It is also shown that a rising proportion of graduates receive only average pay, thus raising the risks associated with educational investments even further.

View Article: PubMed Central - PubMed

Affiliation: University of Essex, UK.

ABSTRACT
The expansion of higher education raises the risk environment for school-leavers as more occupations become partially graduate with the result that occupational signals are fuzzy. This makes the educational decision more difficult and more risky, especially with more of the cost of higher education being transferred to the individual. After a discussion of the nature of risk, derived from Beck, and of the role of government policy and of economics in obscuring this, the analysis uses simple quantitative techniques, based on British Labour Force Survey data, to demonstrate the increased fuzziness of graduate work. It is also shown that a rising proportion of graduates receive only average pay, thus raising the risks associated with educational investments even further.

No MeSH data available.


Related in: MedlinePlus