Go to university, it will be worth more than NIS 2,000 per month

The statistics prove: a bachelor's degree will return the investment in studies in about two years of work.

The biggest differences are in favor of graduates in computer science and exact sciences, however, if you choose to study education, it will take many more years to recoup the investment.

And also: the permanent gap against women

Bini Ashkenazi

25/08/2022

Thursday, August 25, 2022, 11:07 a.m. Updated: 12:57 p.m.

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Go to university, the investment in tuition will pay off big (Photo: ShutterStock)

Academic studies require an investment of years, usually at least three years are required to complete the first degree and five (cumulative) to reach the second.

This is a fundamental decision faced by many young people, some of whom prefer a quick integration into the labor market, what's more, the studies are not free.

Tuition at the university is slightly less than NIS 15,000 (slightly cheaper for the first degree, may be more expensive for the second degree).

In colleges and other academic institutions, the range is wide and comes from a tuition fee similar to that used in universities up to twice or more.

But how much is the degree worth to us?

Is academic education really a decisive parameter for our future earning capacity?

Well, at least according to the findings of the Central Bureau of Statistics, the answer is yes: the average monthly salary for those with a bachelor's degree is about 13,900 shekels per month, compared to only 10,800 among those without an academic education, that is: a gap of 2,100 shekels per month - and this is even before more in-depth segmentations , since there are academic subjects that will be reflected in the salary differences in a much larger way.

To summarize the findings: within two years of work, you will pay back your investment in tuition fees.

Even if we take into account that during studies it is difficult to establish yourself in a mandatory and rewarding job, something usable that gave up studies may benefit from it, the unequivocal findings show that this gap is also erased quickly, assuming that bachelor's degree graduates expect at least another 40 years of work, which is 480 months, that is, on average: A bachelor's degree will earn more than a million shekels as a result of work compared to his friend who lacks an academic education!

Study subjects pay more and less, all by the way pay more for men (photo: LMS)

The main findings in the CBS report

• Higher education studies are linked to reducing employment gaps between women and men;

In 2019, the percentage of women with a bachelor's degree who participated in the workforce was higher than the percentage of men (88.6% versus 82.2%, respectively).

Conversely, among populations that did not acquire a higher education, the percentage of employed women was significantly lower than that of men.

• The average monthly salary of all bachelor's degree graduates (NIS 13,900) was 29% higher than the average monthly salary in the economy for this year (NIS 10,800).

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Unfortunately, the fact that the number of women with master's degrees has already exceeded the number of men, is still not reflected in wages: women are still discriminated against (Photo: ShutterStock)

Bachelor's degree in computer science: NIS 30,000 per month, in education only NIS 12,000 per month

The following figure, if you like, tells the whole story - both of the professions that pay more for studies and that of the women's low salary:

• The highest average monthly salary levels characterized the salary of the graduates of the fields: mathematics, statistics and computer science;

engineering and architecture;

and medicine, and they ranged from NIS 25,700 to NIS 31,400 nine years after receiving the degree.

The lowest average monthly salary levels were observed among graduates of the fields: education and training for teaching;

arts, crafts and applied arts;

and languages ​​and regional studies, and they ranged from NIS 11,800 to NIS 12,800, nine years after receiving the degree.

In these fields of study women were a significant majority.

•Among the graduates of all fields of study, without exception, wage disparities between men and women, to the detriment of women, were observed from the first year after receiving the degree.

At that time, the wage gap ranged from 18% to 37%.

Nine years after graduation, the salary disparity ranged from 15% to 47%, from NIS 4,100 to NIS 13,800.

• Of money

• career and higher education

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