Do qualifications help increase earnings?

This table shows the annual income for a person in the 2008/09 financial year, depending on which type of qualification they have. The table tells us that in general the higher your qualification, the larger your income is likely to be compared to other people your age.

The age you leave study	Level of study	Last year of study
16 - 19		2005	2006	2007
	Level 1 - 3 Certificates	$19,290	$19,920	$19,580
	Level 4 Certificates	$18,320	$18,800	$18,680
	Level 5 - 7  Diplomas	$19,940	$20,830	$19,900
	Level 7 Bachelors	$21,320	$22,370	$21,300

 

The age you leave study	Level of study	Last year of study
20 - 24		2005	2006	2007
	Level 1 - 3 Certificates	$29,230	$30,140	$29,870
	Level 4 Certificates	$25,140	$25,480	$24,800
	Level 5 - 7  Diplomas	$26,820	$26,030	$25,580
	Level 7 Bachelors	$26,180	$27,890	$27,590
	Level 8 Honours/Postgrad cert/dip	$32,280	$33,630	$33,180
	Level 9 Masters	$36,840	$38,400	$39,520

 

The age you leave study	Level of study	Last year of study
25 - 39		2005	2006	2007
	Level 1 - 3 Certificates	$32,240	$33,430	$34,220
	Level 4 Certificates	$28,170	$29,420	$30,250
	Level 5 - 7  Diplomas	$31,120	$30,580	$31,460
	Level 7 Bachelors	$31,020	$32,470	$33,600
	Level 8 Honours/Postgrad cert/dip	$35,690	$38,050	$38,740
	Level 9 Masters	$47,530	$47,790	$50,510
	Level 10 Doctorate	$44,470	$46,470	$48,290

 

The age you leave study	Level of study	Last year of study
40 - 64		2005	2006	2007
	Level 1 - 3 Certificates	$30,070	$31,420	$32,360
	Level 4 Certificates	$25,530	$26,180	$27,440
	Level 5 - 7  Diplomas	$28,530	$29,550	$28,720
	Level 7 Bachelors	$28,640	$31,450	$32,210
	Level 8 Honours/Postgrad cert/dip	$35,890	$37,800	$38,600
	Level 9 Masters	$48,420	$52,490	$55,040
	Level 10 Doctorate	$48,750	$49,810	$55,430

(Source: Stats NZL Student Loans Database)

You should note that these are average earnings. Some people will make more, some less. Generally the message is that you can earn more money if you’ve got a qualification than if you have no qualification at all.

Do qualifications help increase earnings data (Excel, 533 Kb)