2024-11-27
4 分钟The Economist Hello, this is Rosie Bloor,
co-host of The Intelligence, our daily news and current affairs podcast.
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For young people with big ambitions,
bagging a measly bachelor's degree no longer seems enough.
Students in America have been rushing into postgraduate courses even as demand for higher education among the general public has declined.
These days, nearly 40% of university-educated Americans boast at least two degrees.
In Britain,
a surge in demand from fallen students has created a huge boom in postgraduate education.
Universities there now dole out four postgraduate qualifications for every five undergraduate ones.
Master's degrees lasting one or two years are the biggest draw.
These courses are necessary for jobs such as teaching and academia that are appealing even
if poorly paid.
Yet many of the people who enroll in postgraduate study are taking part in an educational arms race.
Now that undergraduate degrees are common goes the thinking it takes extra credentials to get ahead.
The hope is that advanced qualifications will boost all manner of careers.
That is often a mistake.
New data are helping researchers compare the earnings of post-graduates with those of peers who are equally bright but have only a bachelor's degree.