Some people assume that people who went to private school and/or a top university will have the most successful careers. Well, some new analysis of the Household, Income and Labour Dynamics (HILDA) Survey has found that in Australia there is actually little financial and long-term career benefit from attending a private school.
What about the university you choose? Well, here the data shows that there is no significant difference on which university you attend.
“For university graduates employed on a full-time basis, graduation from a Go8 university had no effect on occupational prestige after taking into consideration the effects of sex, age and type of school attended. There was no pay-off for graduation from a Go8 university in the form of increased earnings, nor did type of school attended have any effect, after controlling for the effects of age, sex and field of study.”
– Chester (2014), Private schooling has little long-term pay-off. The Conversation, 13 August 2014