(PRWEB) July 30, 2014
Higher education will always be a growing demand in the marketplace. According to “Free Exchange- Wealth by Degrees”, a June 24, 2014 article in The Economist, the unemployment rate in North America is below average while student loans rose by 25%, doubling the average debt per borrower. Tellwut conducted an online survey study towards graduates from higher education and found that 65% believe institutions should communicate with them after graduation; not a surprise given that close to 80% were happy with their education.
Tellwut’s survey analyzed the prime purpose of achieving higher education. Out of the online panel members polled, 23% were looking for higher income potential, 17% chose personal satisfaction, 17% wanted to advance in their professional field, 14% wanted to increase their chances of finding employment, 10% looked to expand industry knowledge, 9% wanted to be competitive in the marketplace while 5% wanted to change careers.
When choosing the right institution, Tellwut gathered data on what meant the most to graduates. 36% chose school reputation, 33% wanted a stellar course curriculum, 19% considered program costs, and 7% chose the program length. A major factor on graduate degree payoffs is the school’s reputation according to both Tellwut members and to The Economist. According to the Economist’s article, schools like Caltech and MIT provide a 30-year return at approximately $2M, while schools at the bottom of the list produce approximately $148,000 on returns.
How does this online study speak to employment, employments rates and salaries? 38% of survey participants did not find employment related to their degree, while 31% found a related occupation, and 31% found a somewhat related occupation. Other eye-opening statistics determined that 30% of panel graduates are currently underemployed, 16% stayed with their occupation and are happy, 16% changed careers for a new occupation, 11% received a job promotion, 9% moved to a management position, and 7% changed employers to seek better opportunities. 31% of respondents did not feel they received their expected income after graduation.
It plays to an institution’s advantage when communicating with graduates. To stay on pace in a competitive society, post secondary institutions can find value in analyzing what has been achieved by graduates, ensuring programs offered meet and exceed expectations. Unfortunately, a majority of graduate panelists do not feel they obtained a relevant degree while many are currently under employed. With youth unemployment on a statistical rise combined with Tellwut’s study, following up with the graduates as a support system is a vital method by maintaining reputation in the marketplace.
Tellwut is a North American online forum of individuals dedicated to expressing their opinions through online surveys based upon a wide variety of topics in exchange for rewards and the Tellwut community experience. The Tellwut community and proprietary online survey and reward software application provide a platform for organizations to send surveys to their stakeholders or to crowdsource and conduct online market research through the use of the Tellwut survey platform and the Tellwut Community, thus allowing organizations or individuals a clearer understanding and insight into their market research projects, thesis, products, services, customer sentiment and potential business opportunities.