Students generally benefit from completing a vocational qualification, although the pay-off varies considerably, according to a new report by the National Centre for Vocational Education Research (NCVER).
The value of completing a VET qualification was undertaken to get a handle on whether completion matters against a background of relatively low completion rates.
The study compares the post-study outcomes for those who complete with students who do not finish a qualification and explores the value of completion on a number of outcomes against a range of different types of students.
“Without a doubt, the overwhelming message from this work is that completion matters, particularly for those looking for work or those who want to go on to further study”, says Dr Tom Karmel, Managing Director, NCVER and co-author of the report.
The results shows that completion pays off for around 98% of students who want a job after training and 99.9% of students who want to go on to further study.
The groups for whom completion rates particularly matter include those not already in the labour force or unemployed before training or with the intention to go on to further study.
The pay-off from completion in terms of a better job or pay is less, but at 60% the majority can still expect a positive outcome. Those who benefit the most in terms of pay are those who complete a diploma qualification, or are not employed before training and finish a certificate III/IV.
“In terms of pay there is little benefit for those who are already employed and are undertaking a certificate”, says Dr Karmel.
NCVER has also released the latest statistics providing estimates of completions. The likelihood of completing a VET qualification 2006-2009 shows that VET qualifications at certificate IV (38.5%), diploma and above (37.4%) and certificate III (37.3%) have the highest national estimated completion rates.
For full-time students aged 25 years and younger with no other post-school qualifications, the national estimated completion rate is 50.1% when studying a Certificate III level.
Copies of The value of completing a VET qualification or The likelihood of completing a VET qualification 2006-2009 are available from: www.ncver.edu.au/publications/2526.html and www.ncver.edu.au/publications/2549.html respectively.