The Return to Investment in Human Capital: The Case of the Value of Educational Attainment beyond the High School Diploma in Canada

Based on 2001 Canadian Census data, we investigate the return to investment in human capital in Canada. Internal rates of return (IRR) imply that the value of education varies by gender, level of education, and field of study. A bachelor's degree yields the highest IRR; the IRR from higher levels of education declines beyond the bachelor's degree. Women derive higher benefits from education than men. Finally, a bachelor's degree in engineering yields the highest IRR, followed by one in business/commerce and then by one in humanities.