The Return to a University Education in Great Britain

37 Pages Posted: 21 Jul 2004

See all articles by Peter J. Sloane

Peter J. Sloane

University of Wales, Swansea; IZA Institute of Labor Economics

Nigel C. O'Leary

University of Wales, Swansea

Date Written: June 2004

Abstract

In this paper, we estimate the rate of return to first degrees, masters degrees and PhDs in Britain using data from the Labour Force Survey. We estimate returns to broad subject groups and more narrowly defined disciplines, distinguishing returns by gender and attempting to control for variations in student quality across disciplines. The results reveal considerable heterogeneity in returns to particular degree programmes and by gender, which have important policy implications for charging students for the costs of their education.

Keywords: education, wages

JEL Classification: I2, J0, J3

Suggested Citation

Sloane, Peter J. and O'Leary, Nigel C., The Return to a University Education in Great Britain (June 2004). Available at SSRN: https://ssrn.com/abstract=566781 or http://dx.doi.org/10.2139/ssrn.566781

Peter J. Sloane

University of Wales, Swansea ( email )

Singleton Park
Singleton Park
Swansea, Wales SA2 8PP
United Kingdom

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Nigel C. O'Leary (Contact Author)

University of Wales, Swansea ( email )

Singleton Park
Singleton Park
Swansea, Wales SA2 8PP
United Kingdom

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