More education = higher salary.
Siam Commercial Bank’s Economic Intelligence Unit has released a report that shows the more education you have, the more salary you will earn. The SCB think tank’s research paper indicates that the relationship between education and salary is clear and simple; education counts when you apply for a job. Also, don’t underestimate the GPA (Grade Point Average – academic score from your last year of education) result, the report says.
The Economic Intelligence Unit analyzed more than 700,000 online applications on job recruitment websites and found that the starting monthly salary of high-school graduates was 14,000 baht, while people with a bachelor’s degree, who represented the majority of the sampled group and 84 percent of the total applicants, earned around 17,000 baht per month.
The study also shows that advanced education could also be indicative of salary. The EIC survey found that graduates with a master’s degree earned 24,000 baht and people with a doctorate can fetch around 36,000 baht monthly salary, on average.
Thai PBS reports that academic performance is also predictive of one’s earnings for at least 10 years after graduation. Graduates with high GPA scores, or around 3.5-4.0, earned 1,700 baht more than graduates with a GPA of around 2.0-2.5.
Nonetheless, the GPA result may not be the only factor in determining one’s salary. It may simply reflect the other qualifications of the job seekers. Graduates with good academic results may have a tendency to execute their assignments in the workplace better than average, and their performance is reflected in their salary.
The EIC also found that people who changed their job up to 3 times in two years tend to earn 20%-40% more compared to their starting salary. The think tank noted that the job change includes job offers from other company and internal promotion as well.
However, people who change their job too often may not always get a much higher salary. The EIC reported that people who changed jobs four times in the same period earned only 10% more than their starting salary. Hence, too frequent job changes do not always translate into a significant increase in salary for young workers.
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SOURCE: Thai PBS
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