Graduate salaries falling

Graduate salaries falling

By Marina Cameron

Arguments by higher education minister Amanda Vanstone that students should pay more for their education and accept a new three-tier HECS system because of future benefits to their earning capacity received a blow on November 19 with the release of figures which show a further drop in graduate salaries.

The Graduate Careers Council of Australia has released a report which shows that graduate starting salaries have fallen over seven consecutive years to 79.6% of average weekly earnings in 1995, compared with 100% in 1977.

National president of NUS Lori Faraone said, "As the level of participation in higher education has increased dramatically, from around 300,000 students in 1977 to approximately 620,000 students this year, the level of competitive advantage gained through this participation has declined".

Resistance NUS delegate Arun Pradhan told Green Left Weekly, "The real point is that the jobs that graduates used to get are being structured out by industry. There are not enough jobs being created; graduate unemployment has previously been measured as high as 30%. Those jobs created are predominantly casual and part time, and mostly at rates of pay that are declining relative to inflation or have been forced down by playing workers off against the unemployed.

"The findings in this study should spur on campaigns for real life opportunities for young people, whether that be at university, at TAFE or in the work force."

From GLW issue 256