Higher Education and Employment - Essay Example

The majority of the people are attaining degrees and having opportunities to study further. This has drastically and immensely increased over the years in the U.K and all over the world. Now around 40% of the people now move on to proceed with advanced education. Though the expansion of education has benefits it also carries on demerits. A concern of a lot of people being overqualified and having more than is required is increasing. As a lot of commentators are arguing there would soon be a problem of ‘oversupply’ since the number of people available and looking for employment and are backed with degrees are most and are even exceeding the present number of work vacancies available.

The other problem faced would be the loads of people who have attained degrees can neither get their graduate jobs or are get payment lower than they are entitled to. The graduates also may earn less than those that stopped their education at the A levels or even earlier. A recent survey in the U.K has shown that many of the employers have increased their demand of skilled workers rather than the graduates. It has been projected that skilled employees have more efficient and impressive work than the graduates themselves who are backed with certificates and credentials, but do not have enough skills needed for the work itself.

In the government reviews recently, in 2006, the number of skilled workers has substantially increased from one out of five in the year 1984 to at least 27 % in the year 2004 and is still showing an increase to date as projected (Vignoles, 2008). The trend reassures and shows that there is room in the job market available to accommodate more and more skilled workers and graduates even with the increase in numbers. Considering the world, we are heading in even economists project that there would be a higher demand for skilled workers rather than the graduates themselves in the future.

In addition, the need for the skilled workers is also taking a toll in the higher increase. This can act as a re-assurance for the people considering joining higher-level education or not. Surveys, however, tend to give graduates a bad vibe. The works say that graduates have in the recent past seen a decrease in their relative earnings. Comparing a graduate and a person that stopped their education at their A levels, but has enough skills; the latter earns a slightly higher earnings of about 30% more than the former.

Where we might be reaching, degrees may be losing their value. Other evidences support such worries that around one third of graduates fail to get a graduate level-job. However, not all graduates struggle to find jobs. Some degrees are able to achieve much higher wage premiums than others. There is a huge and large variation of earnings of graduates with people. With that said, the major and industry a student happens to choose ultimately has an enormous impact on the earnings they are going to get in the future.

For example, those with bachelor’s degrees who work in science technology, science, or engineering earn much higher on average than the graduates with advanced degrees of any level who work in fields such as education, sales, and community services (Vignoles, 2008). This shows that no matter the level attainment or the field of study, earning a degree is much helpful and often integral to a huge financial success later in life. Researchers also show that not only is a degree, not worth it, but also has it premiums growing vastly.

In some study, it has been shown that the minorities; the women earn much less than the males in terms of wages. In order for women the women who want to earn more premiums than what their male counterparts do,