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The labour market outcomes of Australian Creative Arts degree holders

Author

Listed:
  • Phil Lewis

    (University of Canberra)

  • Jee Young Lee

    (University of Canberra)

Abstract

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.

Suggested Citation

  • Phil Lewis & Jee Young Lee, 2020. "The labour market outcomes of Australian Creative Arts degree holders," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 23(1), pages 21-42.
    • Handle: RePEc:ozl:journl:v:23:y:2020:i:1:p:21-42
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    References listed on IDEAS

    as
    1. Roberta Comunian & Alessandra Faggian & Qian Cher Li, 2010. "Unrewarded careers in the creative class: The strange case of bohemian graduates," Papers in Regional Science, Wiley Blackwell, vol. 89(2), pages 389-410, June.
    2. Philip Lewis & Anne Daly & Don Fleming, 2004. "Why Study Economics? The Private Rate Of Return To An Economics Degree," Economic Papers, The Economic Society of Australia, vol. 23(3), pages 234-243, September.
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    Cited by:

    1. Phil Lewis & Anne Daly, 2020. "The Proposed Job-ready Graduate Package: a misguided arrow missing its target," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 23(2), pages 231-251.

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    More about this item

    Keywords

    creative arts; university graduates; career paths; economics of education; human capital; rate of return;
    All these keywords.

    JEL classification:

    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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