The Determinants of the Salaries of the Russian University Graduates: the Role of the University and Its Characteristics

Differentiation of universities in quality contributes to obtaining different economic returns on higher education. The purpose of the study is to identify the role of the university and its characteristics in the formation of the wages of graduates in the labor market. The theoretical framework of the study is based on the theory of human capital. To determine the relationship between the characteristics of the university and the salaries of graduates, correlation and regression analyzes were conducted in this research. Based on the data of the project “Trajectories in Education and Careers”, it was found that the quality of the university has a positive effect on the salaries of graduates. The economic return on higher education depends on the chosen field of study. Graduates who paid tuition fees receive a higher salary than graduates who studied for free. Full-time graduates receive less economic return on education compared to part-time graduates. Male graduates earn more than female graduates. Recommendations for public policy are formulated in the conclusion of the study. Keywords: determinants of wages, economic return on higher education, university quality, university characteristics, correlation analysis, regression analysis, theory of human capital