The labour market outcomes of Australian Creative Arts degree holders

The number of university places in Creative Arts degrees has risen at a much faster rate than for other degree programs. This represents a big increase in investment in Creative Arts education. This is despite the previous evidence that in 2006 for most Creative Arts graduates the degree was not a f...

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Bibliographic Details
Published in:Australian journal of labour economics 2020-01, Vol.23 (1), p.21-42
Main Authors: Lewis, Phil, Lee, Jee Young
Format: Article
Language:English
Subjects:
Age
Bachelors degrees
Career paths
Careers
Census of Population
Communication
Creative arts
Educational economics
Employment
Females
Growth rate
Higher education
Human capital
Labor force
Labor market
Labour market
Males
Media studies
Part time employment
Performing arts
Qualifications
Rate of return
Return on investment
Students
Textile design
University graduates
Visual arts
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Summary:The number of university places in Creative Arts degrees has risen at a much faster rate than for other degree programs. This represents a big increase in investment in Creative Arts education. This is despite the previous evidence that in 2006 for most Creative Arts graduates the degree was not a financially worthwhile investment. Since then a number of important changes have occurred affecting the graduate labour market which might have been expected to make investment in Creative Arts education even less profitable. This paper examines the careers of those having bachelor's degrees in Creative Arts in 2016. In particular the monetary returns from these degrees under a range of assumptions are calculated. The results show that for the average person, the returns to these degrees are positive although the private rate of return compares unfavourably with most alternative degrees. Potential reasons for this turnaround and implications are discussed. [Author abstract]
ISSN:1328-1143