Thefirst of its kind analysisof tax return datahasdemonstratedthecontinuousgrowth of graduateincomesover the course of theircareersand resilience in the aftermath of the global financial crisis.
The report found that,immediatelyupongraduation, the median income forBachelordegree graduates was $51,200 in 2018. Median income for postgraduate degree graduates was 32 per cent higher at $67,500,while median income for sub-Bachelordegreegraduateswas34 per cent lowerat$33,800.
Graduates who are over the age of 30weremore likely toearnhigher income than younger graduates, andAboriginal and Torres Strait Islander graduatesearned a 14 per cent greatermedianincomecompared totheirnon-Indigenouspeers.
UniversitiesAustralia Chief Executive Catriona Jackson said the findings demonstrated the employment and income benefits of an Australian university education,especiallyduring times of uncertainty.
“FromAustralian Bureau of Statisticsdata, wealreadyknowuniversity graduates experiencebetter employment outcomes compared to non-graduates.This analysisfurther demonstrateshow a universityqualificationprovedto be an important safety netduring periods of economic uncertainty,”MsJackson said.
“Wecan seethatgraduate income alsomadea reliable recovery in the years followingtheGlobal Financial Crisis.”
ThosewithaBachelordegree experienced steady growth in their income over the decade following their graduation, with themedian salary increasing by 88 per centover the period.
DESE’s analysis foundthat, even as economic conditions change,university graduates were less likely to be unemployed than non-graduatesduring economic downturnandultimately find a secure footing inthelabourmarketina matter of yearsfollowing their graduation.
“While therearevariancesbetween different fields of study, atthe endof the dayuniversitygraduatesmake a significant and growing contribution to Australia’sworkforce,”MsJackson said.
Theanalysiscan be accessed on the.
