The Value of an Extra Year of Studying
Date published: August 24, 2020
With unemployment as high as it is in South Africa, an extra year of studying can change your life. Those individuals who are most likely to find a job will have a higher level of education.
Students who finish their matric certificate can already expect to earn double than those who have not.
Earning is drastically based on your levels of education.
Have a look at this infographic by Matric College that shows your expected salary based on your education.
With adding one more year of study after matric, your chances of unemployment are 6.8%.
By finishing matric and getting a diploma, your earning expectation can more than double.
The tough statistics
These thoughts are not easy to process. With around 50% of children who start school not finishing matric, the rate of unemployment remains high. Simply without completing grade 12, one can’t expect to earn more than R2660.Without holding that matric certificate, your chances of unemployment are at 55.9%
Of all students who start grade 12, only 5% will go on to achieve a Bachelor’s Degree 3 years after their matriculation. Sadly for many, it is that degree that allows for a liveable wage. As well as a near guarantee of employment.
Due to COVID-19, nearly 30% of the country is facing unemployment. This marks a record high for Bloomburg since their first records in 2008.
Chances of unemployment are higher amongst those who have lower levels of education. Even with a matric certificate, the chances of employment are at only 34.7%
This is why studying, even just for an extra year, sets you apart. It also means you are more likely to find employment.
You still have a chance
Can I still study without matric?
There are various institutions that can help you study without a matric certificate. This gives individuals the chance to better their earning expectations without a matric. Here is a list of more institutions to look at.
By studying towards further qualifications, you might be able to move into another earning bracket.
The Skills Academy
Tips when furthering your studies
- Do your research: Before furthering your education, research the institution. Make sure they have a good reputation.
- Google the institution and have a look at any comments that people have posted.
- Visit Hello Peter to see if this institution has a good reputation.
- Have the right subjects: Certain courses will require specific subject choices at school. Make sure you choose the right subjects for the course you want to pursue after school.
- Build your career: Success after school is up to you. If you work hard enough, you may be able to see some serious progression. Have a look at this article for important pointers about building you opportunities.
This article is an updated version of one published on the 7th of February 2017. See the original article here.