Think college and university is a waste of time and money? Think again!
New research from the University of Ottawa’s Education Policy Research Initiative has found that there is a link between higher salaries and post-secondary education, regardless of the areas of study.
Income data retrieved from 620,000 graduates from 14 Canadian universities and colleges, between 2005 and 2013, showed fair salary growth over the 8 year period.
University students who graduated in 2005 started out with an income of $45,200 (adjusted for inflation), but saw their income grow 66% to $74,900 by 2013.
College students earned a lower income. The average salary in 2005 for a graduate was $33,900. However, the salary gains were just as high, growing by 59% to hit $54,000 by 2013.
The study also points out a gender wage gap that swings between $1,000 – $20,000.
Does this study hold true for you and the people you know? Keep in mind, it is research conducted by an institution that relies on young minds hungry for the opportunities promised by higher education.