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Factors Influencing the Earnings Expectations among Macedonian Students: A Comparative Perspective with the EU Students

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  • Marija Andonova

    (School of Business Economics and Management, University American College-Skopje, Macedonia)

  • Nikica Mojsoska-Blazevski

    (School of Business Economics and Management, University American College-Skopje, Macedonia)

Abstract

The aim of this paper is to assess the earnings expectations of Macedonian students and the main factors that shape their expectations. Previous research has shown that earnings expectation is a major determinant that influences a decision on schooling (Williams and Gordon, 1981; Betts, 1996; Wolter and Zbinden, 2001). Given that the main pathway to developing individual human capital is schooling, learning about factors that affect individual’s decision on whether to acquire more education can contribute towards better educational policy. We employ similar empirical approach as Brunello et al. (2001, 2004). We use available information to regress: i) expected future earnings right after university graduation and ii) expected future earnings 10 years after graduation, on a set of variables: characteristics of the individual, socio-economic background, field of study, year of study, academic performance, sources of information for future earnings, etc. Our findings show that expected earnings are significantly correlated with the education of the father, year of study, sources of information on earnings in the labor market, gender, ethnicity, having a regular job during studies, perceived employability, field of study, and the country of future employment. In other words, Macedonian students form their earnings expectations in a similar vein as their European counterparts.

Suggested Citation

  • Marija Andonova & Nikica Mojsoska-Blazevski, 2015. "Factors Influencing the Earnings Expectations among Macedonian Students: A Comparative Perspective with the EU Students," Croatian Economic Survey, The Institute of Economics, Zagreb, vol. 17(1), pages 71-110, June.
  • Handle: RePEc:iez:survey:ces-v17_1-2015_andonova-mojsoska-blazevski
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    References listed on IDEAS

    as
    1. Botelho, Anabela & Pinto, Ligia Costa, 2004. "Students' expectations of the economic returns to college education: results of a controlled experiment," Economics of Education Review, Elsevier, vol. 23(6), pages 645-653, December.
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    4. Carvajal, Manuel J. & Bendana, David & Bozorgmanesh, Alireza & Castillo, Miguel A. & Pourmasiha, Katayoun & Rao, Priya & Torres, Juan A., 2000. "Inter-gender differentials between college students' earnings expectations and the experience of recent graduates," Economics of Education Review, Elsevier, vol. 19(3), pages 229-243, June.
    5. Chevalier, Arnaud, 2003. "Motivation, expectations and the gender pay gap for UK graduates," Royal Economic Society Annual Conference 2003 42, Royal Economic Society.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    demand for schooling; earnings expectations; higher education;
    All these keywords.

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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