Education, Career and Income: Stylized Facts and Prospect

Research Article
Open access

Education, Career and Income: Stylized Facts and Prospect

Anyuan Xie 1*
  • 1 Beijing THZI international school    
  • *corresponding author 0315edu@STUDENT.WUST.EDU.PL
Published on 14 September 2023 | https://doi.org/10.54254/2753-7048/8/20230256
LNEP Vol.8
ISSN (Print): 2753-7056
ISSN (Online): 2753-7048
ISBN (Print): 978-1-915371-97-3
ISBN (Online): 978-1-915371-98-0

Abstract

The paper sorts out the literature on education level and people’s potential income. This article analyzes the link between income and education level and worldwide data to discuss the relationship between income and education level. This study approaches the subject from three angles: the influence of education level on industry selection, the impact of education level on profession selection, and the link between education level and income. The paper review past research and article to further study the topic. For the research, the paper comes to the conclusion that there is a positive correlation between education and income. During the whole education life, there are two obvious jumps over the whole holistic study life. After finishing undergraduate student and getting a diploma, the income will increase faster than two. The student who chooses to pursue a professional degree has the highest income in the whole population. This article helps to understand the choice between employment and continuing education.

Keywords:

income, education, career choice

Xie,A. (2023). Education, Career and Income: Stylized Facts and Prospect. Lecture Notes in Education Psychology and Public Media,8,417-421.
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References

[1]. Motivation to Pursue Higher Education David W. Knutsen, Olivet Nazarene UniversityFollow.

[2]. Artess, Jane, Mellors-Bourne, Robin and Hooley, Tristram 2017. Employability: A review of the literature 2012-2016. Higher Education Academy (HEA).

[3]. AMMC (2023) report Tuition and Student Fees for First-Year Students. https://www.aamc.org/data-reports/reporting-tools/report/tuition-and-student-fees-reports.

[4]. Elcin Aykac. Alpa Sinem Sefilb. Ali Kursat Sakc (2015) The Impact of Education Level and Gender on Job Search Duration in Turkey.

[5]. Magnus Gulbrandsen a, Jens-Christian Smeby (2005) Industry funding and university professors’ research performance.

[6]. Raj Chetty John N. Friedman Nathaniel Hendren Michael Stepner The Opportunity Insights Team (2022) THE ECONOMIC IMPACTS OF COVID-19: EVIDENCE FROM A NEW PUBLIC DATABASE BUILT USING PRIVATE SECTOR DATA.

[7]. Kettunen, J. (1997). Education and unemployment duration, Economics of Education Review, 17(2), 163-170.

[8]. Jeremy Bunker; Narelle Shadbolt(2009) Journal: Australian Family Physician Choosing General Practice As a Career - The Influences of Education and Training.

[9]. Ian Scott, Margot Gowans, Bruce Wright, Fraser Brenneis, Sandra Banner and Jim Boone (2011) CMAJ Determinants of choosing a career in family medicine.

[10]. U.S. Census Median household income in the United States in 2021, by educational attainment of householder.

[11]. David Chang, ChFC, CLU (2022) Here's the Average American's Income by Education Level.

[12]. Hashaw (2020) The Average Starting Wages Out of Medical School. https://work.chron.com/average-starting-wages-out-medical-school-4876.html.

Cite this article

Xie,A. (2023). Education, Career and Income: Stylized Facts and Prospect. Lecture Notes in Education Psychology and Public Media,8,417-421.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the International Conference on Social Psychology and Humanity Studies

ISBN：978-1-915371-97-3(Print) / 978-1-915371-98-0(Online)
Editor：Muhammad Idrees, Faisalabad Matilde Lafuente-Lechuga
Conference website: https://www.icsphs.org/
Conference date: 24 April 2023
Series: Lecture Notes in Education Psychology and Public Media
Volume number: Vol.8
ISSN：2753-7048(Print) / 2753-7056(Online)

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References

[1]. Motivation to Pursue Higher Education David W. Knutsen, Olivet Nazarene UniversityFollow.

[2]. Artess, Jane, Mellors-Bourne, Robin and Hooley, Tristram 2017. Employability: A review of the literature 2012-2016. Higher Education Academy (HEA).

[3]. AMMC (2023) report Tuition and Student Fees for First-Year Students. https://www.aamc.org/data-reports/reporting-tools/report/tuition-and-student-fees-reports.

[4]. Elcin Aykac. Alpa Sinem Sefilb. Ali Kursat Sakc (2015) The Impact of Education Level and Gender on Job Search Duration in Turkey.

[5]. Magnus Gulbrandsen a, Jens-Christian Smeby (2005) Industry funding and university professors’ research performance.

[6]. Raj Chetty John N. Friedman Nathaniel Hendren Michael Stepner The Opportunity Insights Team (2022) THE ECONOMIC IMPACTS OF COVID-19: EVIDENCE FROM A NEW PUBLIC DATABASE BUILT USING PRIVATE SECTOR DATA.

[7]. Kettunen, J. (1997). Education and unemployment duration, Economics of Education Review, 17(2), 163-170.

[8]. Jeremy Bunker; Narelle Shadbolt(2009) Journal: Australian Family Physician Choosing General Practice As a Career - The Influences of Education and Training.

[9]. Ian Scott, Margot Gowans, Bruce Wright, Fraser Brenneis, Sandra Banner and Jim Boone (2011) CMAJ Determinants of choosing a career in family medicine.

[10]. U.S. Census Median household income in the United States in 2021, by educational attainment of householder.

[11]. David Chang, ChFC, CLU (2022) Here's the Average American's Income by Education Level.

[12]. Hashaw (2020) The Average Starting Wages Out of Medical School. https://work.chron.com/average-starting-wages-out-medical-school-4876.html.

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