Private Rates of Return of Investment in Upper General and Vocational Secondary Education in Greece

Abstract

The paper examines whether the investment of individuals in the Upper Secondary Education system is efficiency. It estimates the private return on investment in upper secondary education, overall and comparatively in general and vocational upper secondary education. It also estimates private rate of return, comparatively, by gender and type of education. The estimation is performed using the Mincer method and the short-cut method. The income data used came from a primary survey, which was conducted throughout the Greek economy with stratified sampling. Research has shown that investing in the upper secondary education system is efficiency. In particular, the investment of individuals in Upper Secondary General Education (in total and by gender) is more efficient than the investment of individuals in Upper Secondary Vocational Education. Females’ investment in Upper Secondary Education (overall but also by type, general and vocational) is more efficient than that of males.