Women can't get ahead of the game when it comes to wages

WOMEN continue to lag behind men when it comes to lifetime earnings, while those Australians with a post-graduate degree will earn twice as much as those who only completed Year 11, a report revealed on Tuesday.

The AMP-National Centre for Social and Economic Modelling income and wealth report showed those Australians with a post-graduate degree would earn an average $3.2 million over their working lives, while those Aussies who only completed Year 11 would earn $1.7 million.

The report also revealed the continued inequity of incomes between men and women, with a 25-year-old woman with a post-graduate degree earning just two-thirds of a man's lifetime earnings with the same qualification - or $2.5 million compared to $3.2 million.

AMP financial services director Craig Meller said it was "never clearer" that getting an education paid off later in life.

"The report shows a person with a bachelor degree will also receive a high return on education, earning almost 1.7 times someone with Year 11 or below," he said.

It also showed while education standards were rising, only 15% of all university graduates came from struggling homes, short of the Federal Government's target of at least 20%.

 

LIFETIME employee income - at 25 years old, average:

Year 11 or below: $1.74m

Year 12: $2.07m

Certificate: $2.09m

All: $2.30m

Diploma: $2.36m

Bachelor: $2.90m

Post-graduate: $3.17m

WOMEN

Year 11 or below: $1.26m

Year 12: $1.52m

Certificate: $1.34m

Diploma: $1.70m

Bachelor: $2.14m

Post-graduate: $2.49m

MEN

Year 11 or below: $2.13m

Year 12: $2.55m

Certificate: $2.49m

Diploma: $3.08m

Bachelor: $3.66m

Post-graduate: $3.78m

SOURCE: AMP National Centre for Social and Economic Modelling income and wealth report, 2012.



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