Introduction

1 Earnings premia

Pay

Differences in employment

How much of differences in pay reflects differences in education?

2 Rates of return

Measuring costs and benefits

Benefits

Costs

Results

Private rates of return

Rates of return: degree subjects

Wider economic benefits from graduates

3 Marginal vs average rates of return and the prospective rate of return for today’s graduates

Future trends in the demand and supply for graduates

Changes in the structure of the UK economy

Changes in occupational structure

Changes in qualifications

Warwick’s demand and supply projections

Future trends further into the 21st century

Projected changes to the rate of return

End notes

References

Note: This is technical evidence to the National Committee of Inquiry into Higher Education. It is not a statement of the Department for Education and Employment’s views.