Study Finds Leaders More Likely to Hold Degrees in Social Sciences

Source: Inside Higher Education via Academica

A majority of leaders hold degrees in the social sciences or the humanities, according to a new survey conducted by the British Council. The survey reports results from 1,709 leaders in 30 countries, defined as people in a “position of influence within their organization.” Fully 44% of respondents had training in the social sciences, with a further 11% in the humanities. The survey results also show that younger leaders, defined as those under 45, are more likely to have social science and humanities degrees.

BCIT Granted Exempt Status After Degree Quality Assessment Board Review

Source: BCIT via Academica

British Columbia’s Minister of Advanced Education Andrew Wilkinson has approved the British Columbia Institute of Technology’s application for exempt status for new undergraduate programs. The approval follows a thorough review by BC’s Degree Quality Assessment Board (DQAB). For BCIT [CIEC Member], the approval represents full recognition of the quality of its degree programs, and means there will be a more efficient process for degree approval in the future. BCIT’s Acting VP Academic Bill Dow said, “we will take full advantage of this status and we will ensure that we add programs that will further our students’ knowledge and give them the tools to succeed in their desired careers long after they leave BCIT.”

University Degrees Pay Off Over the Long Term

Source: Financial Post via Academica

The Financial Post has crunched the numbers to determine whether students would earn more by paying tuition for 4 years or by investing the same amount of money in a retirement fund. The study assumes that the average cost of a degree is $68,933; assuming a 5% return annually over 45 years, that amount would be worth $619,364 as an investment, and would offer students the chance to put in 4 years more time in the labour force. Based on an average income of $30,817 for a high school graduate, the hypothetical individual could, were they able to bank 100% of their after-tax earnings, make another $800,000 by investing their money at a 5% return, for a total of $1.4 M in 45 years’ time. That’s the same amount that the Council of Ontario Universities suggests a university graduate will make in excess of an individual with a high school diploma. However, this figure does not take into account increases in earnings due to inflation, which could lead to the university graduate earning an excess of closer to $2.1 M; wisely invested, that could make the value of a degree as much as $3.8 M greater than that of a high school diploma. A university graduate, the article says, is “more likely to be more financially independent during their working and retirement years,” and would have more options available to them.