1. IntroductionToday?s society is built around a monetary system, one in which money is used as the firsthand medium of exchange. For an object to function as money it must be universally accepted and others must be voluntary to take it in payment for goods and services. Income can be verbalized as the gathering of money, the net inflow or flight of cash over a given period of time. matchless must have some source of income in graze to survive in today?s society. There is a long-standing belief that greater income can be earned through and through progressively higher levels of didactics. A plethora of literature already exists acquiting the proposed positive relationship between education and sequent employment compensation. Coulombe and Tremblay (2007) deliberate that university attainment has a positive and profound perfume on relative provincial income even later on controlling for skills. Previous works by Lange and Topel (2004), Krueger and Lindahl (2001), and Barro (2001) all support the notion that education, at its present state, is still a worthy investment for many individuals. Psacharopoulos (1994) has even stated that the pursuit of post- auxiliary education is beneficial on a global scale.
Other proponents, however, argue that higher education has only a partial effect on income levels and economic output per capita (Hall and Jones, 1999).
This puts a damper on the time-tested belief that every individual should enroll in a college or university. Therefore, the freshly graduated high tutor student has a choice: does he take a chance on the real world with only his secondary school education or does he follow the itinerary to higher learning? There are many factors to get word when choosing which route to take. These include wage rates, unemployment rates, relative job security measures and financial safety. Long run and short run factors should in any case be considered. In...
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