Estudios de postgrado y perspectivas salariales: una aplicación de la teoría del capital humano

The objective of this work is to estimate the demand for postgraduate education in our country. Concretely, the authors analyse if salary-earning prospects are a determinant factor in the decision to continue investing in education after the finalisation of university studies. Furthermore, it is analysed if the discount factor (represented mainly by the financial situation of the family within which the individual lives) and the economic cycle (represented by the global unemployment rate) are additional factors that affect such a decision. For this purpose, use is made of the model presented by Willis and Rosen (1979) who, at the same time, base themselves on the idea of the human capital theory. The results obtained are consistent with the predictions of this theory in the sense that the expectation of a future grater salary, a smaller discount rate and a phase of recession of the economy at graduation in university positively affect the probability of accomplishing postgraduate studies.