Statistical Analysis of the Education Influence on Salary in Russia

Over the past 25 years, many countries have faced an increase in the number of graduates of higher education institutions. So, between 1990 and 2010, the number of students receiving higher education per 100,000 people in Russia, Brazil and India tripled, and in China it shot up 12 times. The number of educational institutions in emerging markets has also increased several times. Answering the question whether the policy of expanding access to higher education is economically feasible, it is necessary to apply the corresponding analytical tools. To assess the effectiveness of both state social policy and the return on investment in education by an individual, it is necessary to quantify these effects. In our study, the decision to obtain higher or additional vocational education is considered not only as the choice of the type of activity for the next few years but also as the adoption of an investment decision that affects the financial well-being of a person throughout life. The post-industrial economy, called the knowledge economy, is the advanced stage in the development of economic systems. If in the industrial era the accumulation of capital and the concentration of labor resources were crucial for economic growth, today the main advantage of the developed countries in terms of development is human capital - people creating a knowledge-based and high-tech product with the highest added value. Education as a fundamental factor in the formation of human capital acquires special significance in the 21st century. The labor market of the Russian Federation was chosen as the object of this study. The subject of this study was selected set of various characteristics of the labor market in. The purpose of the study is to assess the dependence of earnings on the received level of education and other factors.