The value of a degree earned after years of hard work is now quantifiable, albeit not easily. Corvinus has calculated an estimate of the career path value of a degree, which makes it possible to also express in monetary terms why it is worth choosing us.
As a result of the analysis, a Corvinus student with a degree in economics can expect to earn a total net salary of HUF 340 million over a full career path, which is HUF 110 million more than the national average for graduates in the same field. The source of the monetary advantage lies not only in the knowledge acquired, but also in the skills and competences that our students acquire here.
What does a better life mean?
A degree from Corvinus gives you a visible advantage, as our business graduates can expect to earn almost 50% more than the national average. We asked some of our students what they would do with the higher earnings, i.e. what does a better life mean to them? Investments and tangible assets such as housing or cars were naturally mentioned, but the answers also included funding lifelong learning, supporting charities, and the possibility of using this surplus to fund a longer sabbatical every 5-7 years, i.e. to achieve greater balance through creative leisure.
What makes you more valuable?
The source of the benefit, which also can be expressed in monetary terms, is of course the professional knowledge and competences acquired here, such as the proactive approach, but it also depends on our students what they get out of their years here. Among the opportunities provided by the University, it is worth highlighting the possibility of developing links with companies, including through internships. There are opportunities to develop a wide range of foreign language skills, both through our training courses and our international scholarships, and our seven specialised colleges and around fifty student organisations are an ideal way to expand your network of contacts.
Beyond the results of the analysis, the methodology used is also interesting. Comparing the earnings of graduates from different universities is a common practice internationally, as it makes it easier to measure and compare the labour market value and competitiveness of the courses of higher education institutions.
The advantage of the methodology used by Corvinus is that it is not based on a questionnaire survey, as most international measurements are, but on the DPR AAE data of the Education Office, which is based on the real earnings of university graduates and provides a complete picture of the earnings of domestic graduates. Also of interest is the estimation of expected earnings over the whole career path, as the Education Office database only allows us to draw conclusions for 7-7.5 years after graduation, while the Hungarian Labour Market has been used to calculate earnings changes after this period.
Antal Piross, member of the University, who was involved in the analysis, said: “It is important to see what young people can expect to earn when they are about to choose a career, because university studies also entail some time off, as students typically do not work or do not work full-time during their time here. However, the analysis shows not only that it pays to graduate, but also that there are significant differences between degrees from different universities, and that the advantage of a Corvinus degree is obvious.”
A detailed explanation of the methodology is available here.