Korea Productivity Association


pISSN: 1225-3553

생산성논집, Vol.35 no.2 (2021)

DOI : 10.15843/kpapr.35.2.2021.6.85

부모의 경제력이 자녀의 진학과 임금에 미치는 영향


(고용노동부 서울지방노동위원회 위원장)

The purpose of this study is to analyze the impact of parent’s economic status on their children’s education and wages. It starts with a criticism that in recent, the economic status of parents has been handed down to the child generation due to educational opportunities distributed unequally in Korea. For the analysis, the study uses data from the 2016 Graduates Occupational Mobility Survey(GOMS) which consists of a sample of about 25,000 people, 3〜4% of college graduates nationwide. Using the data, the study conducts chi-square analysis to examine whether parents' income level and asset size affect their children's college rankings. One-way ANOVA is also conducted to examine whether college ranking and parent’s economic status affect their children’s wage level. We found, as a result of the analysis, first that the higher the income level of parents and the larger the asset size, the higher the children's college rankings. This means that there is a strong relationship between the parents' economic status and the children's academic achievement. In particular, it was found that the children of parents who are at the highest level economically go to university at the highest level in many cases. Second, It was found that college rankings have an effect on wages. The wage average of the top college graduates was particularly higher than that of the other groups. This shows how the ranking of universities influences employment in the Korean labor market. Third, parents' economic status also affected their children's wages in the labor market. The hierarchical regression analysis conducted additionally in the study also empirically proved the hypothesis, which means that economic inheritance is taking place in the high-income class of our society. The study presents the following implications in education and labor market policies in terms of productivity. First of all, efforts are needed to ensure that educational opportunities are equally distributed at the policy level. This is because individuals demonstrate their abilities through education, and education can contribute to productivity improvement and social cohesion when making the individual's ability to be fully exercised. Next, in the areas where educational opportunities are distributed unequally, it is necessary to supplement them with labor market policies. As the technology-intensive digital economy progresses in recent years, a higher level of education is required than in the past, and there is a growing possibility that the gap in the labor market will widen depending on the financial support of parents. Therefore, the study proposes to increase dramatically the participation of low-income people in high-quality and expensive education and training courses.

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