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Graduates from Prestigious Universities Should have no Expectations of Higher Salaries

Jul 31st 2014

A new report has uncovered that students who attend prestigious universities are not any more likely to earn more money in their life than if they had gone to a technology university. The report, Mapping Australian Higher Education, discovered that while the degree choice has an effect on earnings, the choice of university does not.

In the study it was uncovered that students who have an undergraduate commerce degree from a university such as the University of Technology Sydney or RMIT University could earn on average $3.2 million across their life. There is no difference in earnings between these universities and the well regarded institutions such as the University of Melbourne or Sydney. This is because it is the degree that is taken into account, not the institution.

The report states: "The starting salaries and career earnings results both suggest that research-based prestige is not particularly important in the Australian labour market, at least for bachelor degrees.” This may be due to the fact that the students at the elite university’s have the same grading system for their exams and custom essay assignments as the technology universities in the area.

The technology universities often get low ratings even though the students will be able to earn just as much as those who attend one of the elite universities. A reason that the elite universities get such a high ranking is that they only take in students who are likely to get good grades and a high degree, no matter where they studied.

There is a difference between the elite universities or technology universities when compared to people who graduate from a regional or suburban institution. The report showed that people who leave the elite or technology university can earn $200,000 more across their career than those who graduate from other universities.

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