An empirical study on educational investment for all levels of higher education in China

With the expanding of higher education in China from 1999, more and more youngsters are able to invest in higher education, resulting a high unemployment rate for higher education graduates and more and more graduates employed in non-graduate position, while the analysis upon risk and return to each level of high education is absent due to the limitation of dataset. The paper employs college students sample survey to research the determinants of all levels of higher education beginning wages, the probability to find an appropriate job in order to conclude the risks and returns to each level of higher education based on the wages growth rate and economic development. The research finds the return to master degree is the highest, but the risk is the lowest in China.