Our degrees don’t repay their cost
New Zealand university degrees are the most worthless in the developed world, an international report reveals.
The value of spending years at university has been severely dented by an OECD report that reveals tertiary study adds little to our earning power – less than $1000 a year for women, not much more for men.
New Zealand is at the bottom of the global league tables.
The actual report is here. And the thing that the OECD make really clear is that they distinguish between two categories of tertiary education. Type A – university degrees – and type B: (mostly polytechnics). Taken together New Zealand is at the bottom of the table. But if you look at degrees and advanced tertiary study then New Zealand isn’t doing that badly – and the countries that are doing extremely well on that metric are mostly countries with low rates of type A tertiary education. Their degrees are highly valuable because of their scarcity. Almost every statistic in the Herald story refers to non-university level education, but the entire story is about the alleged worthlessness of degree qualifications!