The Value of Post-Secondary
What is the value of post-secondary? The last month of university and college is finally here. April is the time where many students are facing their finals. For students who will be done all of their post-secondary years this month and also facing the fact that they have to start applying for a job in their chosen profession. Let’s face it, the job market in Canada is not an easy one to tap into, especially for student’s who have little or no experience for the job that they want to receive.
According to Statistics Canada, the youth (15-24 year old) unemployment rate in the country was 13.9 per cent in January 2014. In addition to these stats, a report released by the Canadian Centre for Policy Alternatives, the youth in the Atlantic provinces and Ontario had the highest unemployment rates (2013).
There have been some statements that university graduates are not getting jobs in their field after they graduate. According to an article in The Globe and Mail, recent university graduates do, in fact, have a better possibility of getting a job than graduates from other post-secondary institutions. Also, based on Statistic Canada and Ontario’s Ministry Training studies, University graduates (youth age 22-24) in Ontario have the best employment rates.
A person with a university degree does earn more money, and university graduates earn 30% more than college graduates after six month of their grad. Overall, a university degree can create a huge pay off and benefit for everyone. Calculating a 40-year period, someone with a university degree can earn on average $900,000 more than a college graduate, and $1.4-million more than someone who just have a high school diploma. Keep in mind, the number that is shown will differ in the career path someone takes.
Many employers look for someone who is educated and have a degree/diploma in order to work in today’s job market. A post-secondary education is essential to land a dream job to land a dream job. The cost of education is continuing to jump every year, but there are many sources to fund the amount to pay off university or colleges, such as an RESP (www.HeritageRESP.com). Even though the cost of education is continuing to increase over the years, the pay off after graduation is priceless.