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Correlation between education & socioeconomic status
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Aydin View Drop Down
Baron
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Posts: 481 		  Quote Aydin Quote  Post ReplyReply Direct Link To This Post Topic: Correlation between education & socioeconomic status
    Posted: 17-Apr-2006 at 02:15
What's your take on the following?... do you agree with the critics?..post your comments;

"Education often is used as an indicator of a persons socioeconomic status. Historically, the number of years of schooling completed has been recorded in the Census of Population as a measure of education. Critics say this measure is no longer accurate as a measure of education and as an indicator of socioeconomic status."
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Guest
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  Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 17-Apr-2006 at 06:55
Was that quote accompanied with any data? The ONS statistics go completely against that, as they have always done.

Try any of the following:
Social inequality
Gaps in income and wealth
Exam results differ by social social status

Of particular note is: "In spring 2005, average gross weekly earnings in the United Kingdom for both men and women with a degree or equivalent were double those of men and women with no qualifications."
Further to that, those with a degree earn 40% more than those without.
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edgewaters View Drop Down
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Posts: 2394 		  Quote edgewaters Quote  Post ReplyReply Direct Link To This Post Posted: 17-Apr-2006 at 08:30
Originally posted by General Ludd

Was that quote accompanied with any data? The ONS statistics go completely against that, as they have always done.Try any of the following URL=http://www.statistics.gov.uk/focuson/socialinequalities/ ]Social inequality[/URL]Gaps in income and wealthExam results differ by social social statusOf particular note is: "In spring 2005, average gross weekly earnings in the United Kingdom
for both men and women with a degree or equivalent were double those of
men and women with no qualifications."Further to that, those with a degree earn 40% more than those without.


True, but you're comparing apples and oranges. The quote clearly deals with the predictive value of education as regards income on an individual, case-by-case basis, not as regards the statistical averages of the entire population. Education is a poor predictor of income level at the individual level, because the variance from the average is quite high. The socioeconomic status of one's parents shows a much closer correlation with much less variance.

Consider that the top 1% of households account for nearly 40% of all wealth, and this alone can almost account for the difference between those with a degree and those without ...

Edited by edgewaters
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Pretorian
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Posts: 172 		  Quote Apples n Oranges Quote  Post ReplyReply Direct Link To This Post Posted: 17-Apr-2006 at 09:36

Originally posted by edgewaters

Originally posted by General Ludd

Was that quote accompanied with any data? The ONS statistics go completely against that, as they have always done.Try any of the following URL=http://www.statistics.gov.uk/focuson/socialinequalities/ ]Social inequality[/URL]Gaps in income and wealthExam results differ by social social statusOf particular note is: "In spring 2005, average gross weekly earnings in the United Kingdom
for both men and women with a degree or equivalent were double those of
men and women with no qualifications."Further to that, those with a degree earn 40% more than those without.


True, but you're comparing apples and oranges. The quote clearly deals with the predictive value of education as regards income on an individual, case-by-case basis, not as regards the statistical averages of the entire population. Education is a poor predictor of income level at the individual level, because the variance from the average is quite high. The socioeconomic status of one's parents shows a much closer correlation with much less variance.

Consider that the top 1% of households account for nearly 40% of all wealth, and this alone can almost account for the difference between those with a degree and those without ...

I agree 100% with the post made by edgewaters.
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