Alumni Education Premium
The alumni education premium demonstrates a university’s dynamic and ongoing economic impact. Alumni add value through the use of the skills and knowledge attained by their university education. They will earn a wage premium over those who have not completed a university education: typically referred to as an “alumni education premium”.
Brandon University has graduated 12,440 students in the last four decades (1,294 graduate students and 11,146 undergraduate students). An estimated 76% of students stay in the region after graduation to work and live. To calculate the Alumni education premium, the wage difference for a given year between those who hold a degree and those who do not, is calculated for graduates between the ages of 25-65 (Table 6). Individuals in the oldest cohort will have higher Alumni education premiums than those in the younger cohort. The total Alumni education premium is calculated by multiplying the number of graduates by the average education premium for each year and summing the numbers.
Table 6. Alumni Education Premium (Past 40 years, 1974-2014)
|Age||Sex||Degree||Number of Graduates living in Manitoba||Annual Earnings Premium for 2014|
|Graduate||190||( $230,029 )|
The Alumni Education Premium for the 2014/2015 year for Brandon University graduates is calculated at $135.9 million which with a multiplier of 1.5 results in a total impact of $203.8 million. In Manitoba, the alumni education premium for university graduates with a bachelor’s degree is between $7,643 and $24,498 per year for men and $5,899 and $10,877 per year for women.