"High salary as high education level" turned out to be greatly different in science and literature

ByBasheer Tome

The idea of ​​"The salary is higher as being a famous university" is a guideline for many people to decide which universities to enroll, parents will not spare tuition fees to study at a good university, We will consider carefully that the child will enter the university with the highest possible level. I believe it is the way to enrich the most future, but the Wall Street Journal which investigated whether the income would be higher as the higher education level actually said "The academic background It does not affect ".

Do Elite Colleges Lead to Higher Salaries? Only for Some Professions - WSJ
http://www.wsj.com/articles/do-elite-colleges-lead-to-higher-salaries-only-for-some-professions-1454295674

Professor Eric R. Ide of the Faculty of Economics at Brigham Young University and Professor Michael J. Hilmer of the Faculty of Economics at San Diego State University analyzed the survey on thousands of university graduates and found that salary after 10 years from graduation I checked how it is changing. As a result, the graduation certificate of a prestigious university only raised salary in certain fields, and in other areas it was found that there is no effect on salary amount.

Specifically, in academic fields involving business and other curriculum major courses, academic background has a great influence on the expectation of future salary, but in fields like science, technology, education, and mathematics, universities Whether it is famous or unnamed, whether the tuition fee is high or low, expectations for future salary are the same. Therefore, depending on the subject major, there are cases that wasteful expensive tuition is wasted.

The survey team classified approximately 3,300 university graduates into business, engineering, science, social science, humanities, education, others, by major. In addition, the university is classified into three types, "Selective" which refers to a prestigious high school and a highly competitive university, "Midtier" which refers to an intermediate level university, "Less Selective" of a free admission method university. Analysis for each categorized category indicated that in the major subjects related to STEM (science, technology, engineering, mathematics), there was hardly any difference in average income from university categories.

ByBrookhaven National Laboratory

Professors and others think that the curriculum of the science is relatively standardized and that the general knowledge system is used, and if you are a science student, the professors will give you a high salary after graduation It may not be necessary to go to a tuition fee expensive to guarantee. For example, if a student studying engineering chooses University of Pennsylvania instead of entering Texas A & M University, the initial salary of the two university graduates will increase by an average of $ 1,000 (about 120,000 yen) per year, but the tuition fee Will be higher than $ 167,000 (about 20 million yen). Therefore, going to the University of Pennsylvania, you have to work over 150 years to compensate for the difference of $ 167,000.

However, we also know where students other than STEM receive diplomas will have a significant impact on future income. Most notable was the business major, selective graduates had a 12% average salary higher than Midtier, and Midtier graduates had an average salary higher by 18% than Less Selective. Likewise, in Social Sciences major, salaries of Selective graduates were 11% more than Midtier graduates, Midtier graduates turned out to be 14% more than Less Selective graduates. Although the difference in the field of education and humanities is a little more gentle, it is said that there was a difference in income for each university.

ByTed Eytan

Professors and others believe that these fields are for graduate network and university connections to be useful at work and depending on the major subjects parent and child's efforts to "enter a good university by hitting a big money" are justified is. On the other hand, if you are lost in major courses, because the number of years required for graduation varies depending on the major subjects, if you calculate the opportunity cost that you will be born while graduating early for one year, the "investment" It is more accurate to know if it matches.