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Appraising the lifetime private economic returns of postgraduate degrees: Evidence from Pakistan

Education

Appraising the lifetime private economic returns of postgraduate degrees: Evidence from Pakistan

A. Bashir and Z. Siddique

This research by Adnan Bashir and Zahid Siddique reveals the significant financial advantages of holding a Ph.D. over non-Ph.D. degrees in Pakistani universities. With domestic Ph.D. holders earning 46.5% more and their foreign counterparts 29.8% more, these findings provide critical insights into the value of advanced education.

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Playback language: English
Abstract
This study estimates the private economic returns of Ph.D. faculty members over their non-Ph.D. counterparts in Pakistani universities using questionnaire-based survey data of 784 respondents. Findings show that the lifetime private economic returns of a Ph.D. degree are higher than a non-Ph.D. degree, with domestic Ph.D. degree holders earning 46.5% more than non-Ph.D. faculty and foreign Ph.D. degree holders earning 29.8% more. Sensitivity analysis reveals that changing the retirement age or Ph.D. completion time affects the net returns.
Publisher
HUMANITIES AND SOCIAL SCIENCES COMMUNICATIONS
Published On
Mar 08, 2023
Authors
Adnan Bashir, Zahid Siddique
Tags
Ph.D. economic returns
Higher education
Pakistani universities
Salary comparison
Faculty earnings
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