Year of Graduation
The Analysis of Returns from Higher Education in Russia
Returns from higher education are very important factor that measure the efficiency of higher education policy. Returns from higher education for alumni and students should be taken into account in determining of the efficiency of transformations in higher education in Russia. The purpose of the paper is to estimate returns from education and propose recommendations on alteration of educational policy in Russia. Systematization of foreign and Russian studies serves as a method for the determination of factors that affect returns from higher education. The elaborated econometric model for the estimation is an equivalent of Mincer equation. The data have been taken from a Russian Longitudinal Monitoring Survey. The results of research indicate that quality of university is one of the significant factors that affect returns from education along with work experience gained during higher education and duration of education. The proposed recommendations imply establishment of government programmes aimed at improving quality of education in universities with low admission scores, establishment of system to control career centres in universities and establishment of incentive system focused on improvement of collaboration between universities and employers.