"Advanced academic qualification, specific skill and ability are required for higher level occupation." Explain

An important benefit of tertiary education is the ability of graduates to contribute to the economy, and receive higher wages in return. There is an ongoing interest in how skills, knowledge and experience are rewarded in the workplace. This is often looked at in terms of the average earnings premiums associated with various levels and types of educational qualifications by age. In most data sets, qualifications are the only available measure of skills and knowledge. Age is often used as a proxy for experience.

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