Employment Advantage and Wage Dispersion: Vocational High School and College Graduates in Korea
2018
Choi, S.J., Seoul National University, Seoul, Republic of Korea
The aim of this paper is to analyze the return to VET at upper-secondary and tertiary level over the life span, and to examine effect of selectivity bias on return of VET. This study used the PIAAC Korea dataset undertaken by OECD, and the analysis is restricted to individuals who completed a secondary education program. For the testing hypothesis, OLS and Propensity Scores Matching was used. The results of this study indicated that vocational high school graduates has short-term employment premium compared to general high school graduates, but it diminishes with age. On the other hand, for the employment advantage of college graduates, there are no significant differences from university graduates. For the male individuals, there is a significant wage dispersions: vocational high school graduates earn initially more than general high school graduates, and less than college and university graduates. After controlling selectivity bias, earning advantages to the general high school graduates has disappeared, and the wage gap with college graduates has decreased. For the female individuals, wage dispersion pattern is similar to male, but also examined age-earning patterns: general high school graduates earn initially less and later more than vocational high school graduates. These results implies that for labor market outcomes of vocational education, it is important to examine earing trajectories across the working life. Also, to get the implications for policy, a substantial body of research remains to be performed in terms of the cause of trade-of relationship between long-term and short-term labor market outcomes. Especially we should focused on occupational structure and characteristics of blue-collar
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