Millionaires or unfortunate: What does the success of graduates depend on?

Abstract

The literature on higher education and the job market usually points out that the higher the educational level, the greater the success in the labor market in terms of received income. However, in a study on university graduates in Mexico we found enormous differences between individuals with the same level of training. Although for the general population the differences in income could be explained by their educational level, with regard to university graduates this factor does not seem to be plausible. Based on data about graduates from nine Mexican universities, this article reviews which other factors might explain the differences in the income of individuals with the same educational level.