Is a University Degree worth it? A comparative analysis

Abstract

The ultimate goal of a university is the pursuit of knowledge. For most individuals, the hope is that obtaining the degree will yield long-term positive returns (usually in terms of income and job security). The general belief is that an undergraduate degree will get you a good starting wage as well as responsibilities befitting the time spent in school. However, there is concern in news and media that during the recovery from the recent economic recession, the job market is saturated with unemployed and underemployed degree holders. This paper attempts to analyze the relationship between having a degree and income category, as well as determine how that relationship changed between 2000 and 2013 (pre and post- Recession). A more detailed analysis would factor in the opportunity costs of a degree, but that lies outside the scope of this paper.

Discipline: Statistics

Faculty Mentor: Dr. Karen Buro