As we all know, the cost of living in Australia is not low. In addition to tuition fees, an international student spends about A $23,999 a year, and as more and more students graduate every year, jobs become more and more difficult to find. We can`t help but wonder: is a high-cost degree worth it? How much is the value of your degree?
Recently, Good Education Group (GEG), an independent education and vocational information service, uses several methods to determine whether Australian university degrees have been matched in return.
"many students consider graduate employment and starting salary as criteria for choosing a major at a university." Ross White, director of data and analysis at GEG.
The latest figures show that the overall average graduate employment rate for undergraduate students is about 70%, covering all Australian universities. This figure seems to suggest that college students with degrees are bound to have a wider range of options.
"in terms of starting salary, starting salaries range from A $50000 for (RMIT) graduates at Royal Melbourne Polytechnic to A $61000 for Queensland graduates, compared with an average starting salary of A $56000 for college graduates across the country."
In October 2017, a federal education survey found that the median salary of full-time college graduates rose from A $56000 to A $68700 within three years of graduation.
In the short term, a college diploma will have some benefits for employment, but not a long-term meal ticket. From a purely economic perspective, Mr. White said, in the long run, some Australian university degrees are "not worth the money."
"at present, there is no national public data to prove whether it will take five years, 10 years, or 15 years to graduate from college to match the amount of money you make and what you have achieved," White said. "the work behind the collection of this information is very difficult, but it is in progress. You can look back on how much money you have made now and whether it will be enough to offset the money you have spent in college. It will be very valuable. "
But Wanda Hayes, president of (CDAA), the Australian career development association, said it was too narrow to measure the value of a university degree in terms of money.
"in fact, a lot of college graduates are starting to enter junior positions in society, and they don`t necessarily earn more than graduates who don`t have a diploma," Wanda Hayes said. "but we know that once you get into an industry, you have a degree, you can keep going up, and on the contrary, if you don`t have a degree, you`re half as likely to get promoted."
Hayes also said that people with degrees tend to have lower unemployment rates during their working lives, which also means they can earn more money than people without a diploma.
So, even if the tuition fees and the salary after graduation are much different, is it necessary to spend so much to study? The answer is yes.
Reading is not worth money, this belongs to the benevolent, the wise see the wisdom of the problem. In this process, the theoretical knowledge learned, meet mentors and friends, improve the professional quality of the individual can not be priced with money.
The years of studying abroad have broadened their horizons, made them more receptive to different cultures and values, and exercised their ability to live independently, all of which are more important than salary.
So, the degree you got in Australia: it`s priceless!
Author: Wen Jing Shelley
