Higher earning

By James Tozer

A university education might expand your mind. It will also fatten your wallet. Data from the OECD, a club of rich countries, show that graduates can expect far greater lifetime earnings than those without a degree.

The size of this premium varies. It is greatest in Ireland, which has a high GDP per head and rising inequality. Since 2000 the unemployment rate for under-35s has swelled to 8% for those with degrees – but to more than 20% for those without, and nearly 40% for secondary school drop-outs. The country’s wealth now goes disproportionately to workers with letters after their names.