Abstract
Investing in education is a type of capital accumulation in humans. The value of money spent or accumulated in humans from birth to graduation is called human capital. Therefore, being a company employee is like investing in capital equal to the amount of human capital accumulated in that company. Wage or salary earned by a company is also like a return on investment. This research aims to find out what wages we earn each month after graduation and whether it is worth the human capital in us or not. What should be the wage rate worth investing in? This research uses secondary data from the National Statistical Office of Thailand and other related data sources. This research focuses on the study of social sciences in 5 majors of bachelor degrees including Communication arts major, Account major, Law major, Economics major, and Business management major. The findings showed that, in the year 2022, the initial wage rate of new graduates in the five fields of social sciences in Thailand is not worth their human capital invested from birth to graduation. Preliminary suggestions from this research are as follows: The government should implement a policy to improve the quality of education to increase graduate productivity. The higher graduate competencies and skills will result in employers willing to pay wages at a higher rate. The government should implement a policy to encourage new graduates to conduct their own business to raise their income higher than being an employee.
Author Information
Thoedsak Chomtohsuwan, Rangsit University, Thailand
Narissara Charoenphandhu, Rangsit University, Thailand
Kitsana Lerdkasetwittaya, Rangsit University, Thailand
Paper Information
Conference: ACE2023
Stream: Professional Training
This paper is part of the ACE2023 Conference Proceedings (View)
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To cite this article:
Chomtohsuwan T., Charoenphandhu N., & Lerdkasetwittaya K. (2024) Investment in Social Science Education and Its Worthwhile Wage ISSN: 2186-5892 The Asian Conference on Education 2023: Official Conference Proceedings (pp. 717-725) https://doi.org/10.22492/issn.2186-5892.2024.63
To link to this article: https://doi.org/10.22492/issn.2186-5892.2024.63
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