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Offline Fil-Ski


  • Joined: Feb 2009

  • Drives: 993TT
  • Location: Adelaide
I think a Uni degree is for personal satisfaction only.

Tell that to the thousands of people undertaking a degree for the sole purpose of 'getting a job'



Offline 98octane

I think a Uni degree is for personal satisfaction only.

For some.  But the market and community needs people with degrees. Doctors, engineers, scientists, pharmacists and, dare I say it, lawyers. All require significant specialist knowledge and training which you can't just get on the job. Many others too.



Offline Neru


  • Joined: Feb 2012

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An interesting article in the AFR today, graduate un-employment increasing every year

Quote
Recent university graduates are more likely to be out of full-time work than ever and starting salaries for graduates have stagnated, new figures show.

The latest annual survey by Graduate Careers Australia shows that full-time employment rates and the earnings advantage of completing a degree both hit record lows in 2014 for recent graduates.

Thirty-two per cent of university graduates who wanted a full-time job had not found one four months after completing a degree in 2014 – up from 29 per cent last year and topping the previous record of 29 per cent in 1992.

“These figures are really concerning,” said Grattan Institute higher education program director Andrew Norton. “They are worse than the 1990s recession, but without the recession.”

Mr Norton said the decline was most likely due to the growing number of students enrolling at university and a reluctance among employers to take on new workers since the global financial crisis.

Undergraduate university enrolments have soared by 23 per cent, or 110,000 students, since 2009 after the uncapping of student places.

In 2008, before the global economic downturn, 85 per cent of university graduates had found a full-time job four months after finishing their degree, compared with just 68 per cent this year.

More than 100,000 recent graduates completed the Australian Graduate Survey (AGS).

The report says: “These figures indicate that the labour market prospects of new bachelor degree graduates, which fell in the 2009 AGS as a result of the global financial crisis and did not change notably between 2010 and 2012 before falling again in 2013, have again fallen.”
Female graduates earn even less

Recent pharmacy, medicine and mining engineering graduates were most likely to have full-time jobs, whereas social sciences, chemistry and psychology graduates were among the most likely to be unemployed or underemployed.

Employment opportunities have deteriorated strongly for recent law graduates. A quarter of law graduates were seeking permanent employment in 2014 four months after finishing their degree, up from nine per cent in 2008.

The GCA report stresses that the medium and long-term job prospects for graduates remain strong despite the tough employment market for new graduates. Only 3.2 per cent of university graduates are unemployed compared with 8.2 per cent for those with no post-secondary qualifications, according to the latest Australian Bureau of Statistics data.

The latest figures also show that starting salaries for graduates have declined when compared with the wage of an average Australian male.

The median starting salary for a bachelor degree holder aged under 25 was $52,500 in 2014, or 74 per cent of male average weekly earnings. This is the lowest proportion relative to the average male wage since records began in 1977 and is far below the recent peak of 83 per cent in 2009.

The median graduate starting salary rose by just $50, or 0.1 per cent, from 2013 and the wage of an average male rose by $411 or 0.6 per cent.

The higher earnings potential for university graduates, which remains significant over a lifetime, has been a key selling point for Prime Minister Tony Abbott’s government in its bid to deregulate university fees. Education Minister Christopher Pyne has repeatedly cited the figure that university graduates will earn 75 per cent more over a lifetime than school leavers.

New male graduates earned a median salary of $55,000 in 2014 and new female graduates started work on a median salary of $52,000. The difference is largely explained by the fact men are more likely to choose degrees which lead to high starting salaries – such as engineering – than women, according to the GCA report.



Offline blackr35


  • Joined: Jan 2012

  • Location: adl
Why should you get taxpayer funding for a university degree if you don't want a full time job? (Para 3 of the AFR article)



Offline NBTBRV8


  • Joined: Aug 2012

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An interesting article in the AFR today, graduate un-employment increasing every year

But more people are going to Uni and this isn't being matched by an increase in jobs, especially in a globalising world.  So you'd have to expect this, the playing field is levelling out once again, albeit at at higher point now.

A Uni degree is a basic prerequisite IMHO.



Offline blackr35


  • Joined: Jan 2012

  • Location: adl
Is university the best way of increasing your value such that you're employable? It looks like all the things that used to be valuable (good presentation, good work ethic, good contacts, good communication) are still valuable - you just may need a uni degree of some description to accompany it.



Offline looney


  • Joined: Mar 2007

  • Drives: VW Beetle
Yes a University degree can help you get in the door, but once you're there it means SFA, then it comes down to competency, work ethic and your ability to play the work politics game IMO.

if you're good at what you do you'll never be without a job. or so they say.



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