PhDs are worth it
Employees with PhDs in private companies earn on average 10 per cent more than those with just a long-cycle higher education degree, shows an examination of data (not including personal and company-specific characteristics).
Companies that have at least one employee with a PhD also have an average of 30 per cent more work productivity, while productivity is 11 per cent higher in small businesses.
A new report "Ansættelse af ph.d.er og produktivitet" (Employees with doctorates and productivity) has been compiled by the Centre for Economic and Business Research at Copenhagen Business School for the Danish Agency of Science, Technology and Innovation. It compares PhD employment with productivity in Danish companies over the last decade.
Higher Education Minister Morten Østergaard believes it gives a clear signal of the value of education and reinforces the message that employing highly educated graduates is a good investment.
– I strongly believe that education benefits the young people themselves and society as a whole and I think that this report supports that, says Morten Østergaard.
– The report does show however that there is still room for improvement. Not all fields of study provide an easy access to the private labour market for those with PhDs, says Morten Østergaard who advises Danish companies to give even more consideration to highly educated graduates as an investment that pays off.
The report also shows that small businesses that have an employee with a PhD generally have a higher salary level than those without a PhD employee.
During early 2012 the parliament begin discussions on a possible extension of the intensive drive to create PhD positions – which has resulted in twice as many positions in less than eight years.
Further information please contact:
Senior adviser Jesper Allerup, analysis unit of the Higher Education Ministry, tel: +45 7231 8226 or email: jeall@fi.dk.
Press officer Ingeborg Nielsen, tel: +45 2211 0200.
Document Actions