Five myths about Australian university graduate outcomes
- Written by Omer Yezdani, Director, Office of Planning and Strategic Management, Australian Catholic University
Universities are vital to Australia’s sustained prosperity. However, the complexity of our current higher education policy landscape, combined with profound economic forces, have led to a number of myths and misconceptions about what happens to students after they graduate.
New analysis reveals five myths or misconceptions about Australian university graduate outcomes. The analysis uses data from the Australian Bureau of Statistics (ABS) Labour Force Survey, Quality Indicators of Learning and Teaching (QILT), and former Australian Graduate Survey (AGS).
Myth 1: Full-time graduate employment rates have been consistently declining for decades
Overall, student satisfaction is high (82%) and graduate outcomes in Australia are good. Full-time employment immediately following graduation was at 70.9% in 2016, up from 68.8% in 2015.
Australian graduate employment rates are among the best in the world. One third of all Australian universities made the world’s top 200 list in Graduate Employability Rankings.
However, the numbers don’t tell the whole story. Full-time graduate employment rates have fluctuated significantly over the past 35 years. These fluctuations coincide with major shocks to the Australian economy, during recessions of the 1980s, 1990s and after the Global Financial Crisis (GFC) of 2008/09.
Full-time graduate employment rates rise and fall in direct correlation with changes in Australia’s Gross Domestic Product (GDP):
In their first four months following graduation, university graduates are particularly exposed to these economic factors. They are often entering a new career for the first time, with limited discipline experience, in an environment where businesses might be clamping down on increased costs. Full-time graduate employment rates rise a further 17.5% (to 88.4%) in just under three years after graduation.
The last 35 years have also seen massive change to labour markets and the Australian economy. The myth of a “consistent decline” runs counter to what has been an era of constant change. For example, in 1986, only 7.2% of 15-74 year olds held a bachelor degree qualification, compared to 28% for men and 35% for women in 2017 (ABS). During this time, the sophistication and diversity of the Australian graduate employment market have forever changed, and for the better.
Following the late 1980s recession and stock market crash known as “Black Tuesday”, graduate employment rates took ten years to recover to their original levels. Unlike the sharp turns of the stock market, losses and gains in graduate employment are a slow burn.
Myth 2: Graduate employment rates are not impacted by economic downturns
While it seems counter-intuitive, this is a prevalent myth. The logic stems from Myth 1: if graduate employment rates have been declining consistently, then this decline has nothing to do with cyclical economic downturns or recessions.
Authors: Omer Yezdani, Director, Office of Planning and Strategic Management, Australian Catholic University
Read more http://theconversation.com/five-myths-about-australian-university-graduate-outcomes-87074