By Chung Ah-young
Staff Reporter


Those who have a master’s degree and above earn lower wages than college graduates according to a report.

The Korea Research Institute for Vocational Education and Training prepared the report by looking at 2,000 college graduates to find out their vocational situation through its Web site between July and August.

The report indicates that the high unemployment rate resulting from the prolonged economic downturn has pushed college graduates into graduate schools as an alternative after they fail to get a job right after graduation.

According to the report, holders of masters’ degrees or above get paid less than college graduates on average by 220,000 won a month.

The report indicates that getting a higher education does not lead to a successful career anymore.

Also, the ratio of people with masters’ degrees and above who are hired as non-regular workers stands at 11.3 percent, twice the figure for college graduates.

The report shows that the unemployment rate for those who are highly educated is 16.8 percent compared to 12.2 percent for those with a college diploma.

Also, holders of masters’ degrees and above failed to get jobs suitable for their educational backgrounds, according to the report.

About 55 percent of jobseekers with masters’ degrees or higher tend to aim at jobs lower than their educational standing, the report said.

Meanwhile, only 36.9 percent jobseekers with college diplomas apply for jobs that are easy to get rather than what they want.

The study also shows that jobseekers graduating from prestigious universities with good grades and English scores find good jobs.

The study also indicates that college graduates with a B-grades minimum and a TOEIC score of 800 or higher find it much easier to obtain jobs after graduation.

chungay@koreatimes.co.kr