Investment in Social Science Education and Its Worthwhile Wage (74131)

Session Information: Learning Experiences
Session Chair: Thoedsak Chomtohsuwan

Friday, 24 November 2023 15:35
Session: Session 4
Room: Room 705
Presentation Type: Oral Presentation

All presentation times are UTC + 9 (Asia/Tokyo)

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 primary data from questionnaire survey and secondary data from the National Statistical Office of Thailand. This research focuses on the study of social sciences in five bachelor degrees including human resources, economics, accounting, law, and public relations.
The findings showed that, in 2022, the initial wage rate of new graduates in the five fields of social sciences in Thailand are not worth for 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.

Thoedsak Chomtohsuwan, Rangsit University, Thailand
Narissara Charoenphandhu, Rangsit University, Thailand
Kitsana Lerdkasetwittaya, Rangsit University, Thailand

About the Presenter(s)
Dr Thoedsak Chomtohsuwan is a University Assistant Professor/Lecturer at Rangsit University in Thailand

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Posted by Clive Staples Lewis

Last updated: 2023-02-23 23:45:00