New Statistics Canada research demonstrates that university graduates earn considerably more than their peers without a degree. The new report, An investment of a lifetime? The long-term labour market premiums associated with a postsecondary education, shows that university grads make up to 75 per cent more than those with high school only.
The report tracks Census data from 1991 to 2010. Over the 20 year period, male university grads make on average $732,000 more than individuals with only a high school credential, and $485,000 more than community college graduates. Women earned $448,000 and $269,000 respectively.
While this is good news for university grads generally, the persistent pay gap between male and female graduates remains a serious concern.
The StatCan research comes on the heels of a Council of Ontario Universities (COU) study that shows the significant labour market advantage of a university degree. Earlier this year, the American Association of Colleges & Universities published research highlighting the success of liberal arts graduates. Clearly, labour market success is one of the many advantages of a university degree, alongside better health outcomes, increased civic engagement, and a host of other social and economic benefits.