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Higher Education in the Age of Austerity - Banking - Lecture Slides, Slides of Banking and Finance
Banking is an ever green field of study. In these slides of Banking, the Lecturer has discussed following important points : Higher Education In The Age of Austerity, Education Spending, Sharp Spending, Graduate Premium, Career Goals, Work Life Balance, Intellectually Challenged, International Career, Booming, Education Graduation
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“Buy Now While Stocks Last”- Higher Education in the Age
of Austerity
Spending on education hasrecovered to its earlier peak
Source: Institute for Fiscal Studies. 2010 Election Briefing Note: Education Policy. April 2010.
UK education spending as % share of national income, 1955-56 – 2010-
We are in the middle of the packon education spending…
Education spending as a share of national income across OECD, 2006 Source: Institute for Fiscal Studies. 2010 Election Briefing Note: Education Policy. April 2010.
…and on higher education
Public spending on higher education as % of GDP, 2006
0.
0.
Sweden
UnitedStates
France
United Kingdom
Germany
Italy
Japan
Note: Includes higher education subsidies to households.
Private HE spending is higher herethan elsewhere in Europe
0%
10%
But HE spending has been rising lessrapidly than other components of theeducation budget…
Note: Capital spending = new buildings and ICT.
… and sharp spending cuts are inthe pipeline
The HE entry rate here is relativelylow…
Entry rates into higher education as a share of young people, 2007 S.
Sweden
Japan
United Kingdom
UnitedStates
Italy
Germany
…but our graduation rate iscomparable to the US
.
Tertiary education graduation rates, % of graduates to the population at thetypical age of graduation
Government spending per studenthas been flat
Most universities run very smallsurpluses, even in fat years
The LSE did very well when theCity was booming
But unemployment jumped in2007/
2002/
2003/
2004/5 2005/
2006/
UK students
LSE students
The graduate premium
-An individual with an undergraduate degree will earn 20% - 25% morethan his or her equivalent holding two or more A-levels.-Gross additional lifetime earnings of a graduate, over and abovesomeone with two or more A-levels, is approximately £160,000.
[1]
-The returns to degrees have remained relatively stable since the late1980s.
[2]
-Students graduating from an institution in the top quartile can expecttheir wages to be between 10 – 16% higher than in the lowest quartile.
[3]
-Masters graduates earn 15% more than first degree students, and PhDgraduates - 23% more.
Career goals
.
LSE students’ top three career goals 1.To have a work life balance
50%
2.To be competitively or intellectually challenged
44%
3.To have an international career
40%
UK students top three career goals 1.To have a work life balance
55%
2.To be competitively or intellectually challenged
40%
3.To be secure or stable in my job
38% (LSE 22%)