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The reality is that a good bit of the earnings boost provided by a degree – we don’t know how a lot – is more likely to come from the truth that a graduate has, in the eyes of employers, jumped via a hoop in a world the place rising numbers of their peers are doing likewise. If everyone else going for that bar job has a level, you’d better have one too. It is becoming more common ultius to have a degree in jobs for which you wouldn’t have needed one 30 years in the past. South Korea supplies a cautionary story: 70% of the country’s school-leavers go to school, however recent graduates are dealing with comparatively excessive charges of unemployment , and it’s not unheard of to seek out graduates working as caretakers.

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