Value of a degree is growing

This letter to the editor was published in the Toronto Star on December 14, 2012

Paul Davidson
President
Association of Universities and Colleges of Canada

TD’s report on early learning is commendable (Early learning is a better bargain, Dec. 7). Carol Goar’s suggestion that funding be taken from universities is preposterous.

Today’s universities are doing more with less. Per student government funding for postsecondary education is half of what it was in 1977. Despite the related pressures, universities are producing the graduates in demand by today’s workforce and developing global citizens.

Goar incorrectly claims the value of a university degree is in decline. Each census report shows the value of a degree is growing.

From 1990 to 2011, the number of jobs filled by university graduates in Canada more than doubled from 1.9 million to 4.5 million while jobs in the skilled trades grew by only 31 percent. Professional and management jobs grew by 1.7 million during this time, with 1.4 million filled by university graduates. 

For new graduates, both employment and the relevancy to studies increase over time. In Ontario, according to a 2010 study, 92 percent of university graduates are employed six months after graduation. That increases to 94 percent two years after graduation. Six months after graduation 78 percent of graduates work in an area related to their field of study. That figure jumps to 84 percent two years after graduation.

Goar implies that many employers require a university degree for jobs such as retail sales. In fact only 1.7 percent of retail jobs are occupied by university graduates, and their average income is $49,807. Twice as many university graduates in sales are in fields such as pharmaceuticals, medical devices, technical equipment and communications technology, with an average salary of $75,000 to $91,000. The vast majority of university graduates – more than 80 percent – work in professional, managerial, technological and administrative positions.

It is not surprising that university enrollments are growing. But Canada still needs more graduates. According to federal government estimates, 75 percent of new jobs in the coming decade will require postsecondary education. With a huge demographic shift already underway and increasing global competition, Canada needs to mobilize all of its resources and talents to secure the high quality of life Canadians expect and deserve – and that includes enhanced opportunities in early childhood education.