After economic recession has passed, the probability that university graduates will return to work is higher than that of those who do not have graduate degrees. Not only this, but university graduates also have higher odds of getting hired as well (University of Greenwich, 2007). The recent increase in grants given by universities in the form of student loans and scholarships has served to decrease the price of higher education and are has been done do for the same reason as is the subject of our discussion: The fact that university graduates earn more.
In some cases people who manage to get university graduation degrees have been reported to earn twice of what they were earning before there university graduation (Stacie, 2005). This phenomenon is not only localized to the United States but holds relevance around the world. We can infer this fact from the latest research that was conducted in Australia which showed that Australian students with university degrees earn around $1.5 million more in their lives than their friends who were not University Graduates (Anderson, 2008).
Overtime, many people have stated that it is the market status of the discipline in which the degree is obtained rather than the degree itself which serves to determine whether the holder of the degree will find a high paying position in the workforce or not (The Conference Board of Canada, 2008). However, in terms of a situational perspective and in consideration of the PIE analysis performed above, we can infer that in the long run, the benefit of a university degree indeed does have benefits that outrun the costs of the education. A university degree comes as a form of a long term investment which yields its profits slowly and gradually but surely; and leaves the benefits of a mere college degree far behind.
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