Since 2006 there have been significant changes in the labour market for university graduates, most notably the Global Financial Crisis of 2007 and the subsequent downturn in gross domestic product growth, and a huge expansion in university places. This article presents estimates of the monetary returns in Australia associated with the completion of bachelor degrees in 2016 for a range of fields of study and compares them to the estimates for 2006. The results show that for the median person, there are still good monetary incentives to complete these degrees and the private rate of return compares favourably with the long-term real bond rate. However, the article also concludes that the return to an individual investing in bachelor education had mostly declined in the period 2006–2016. There is, again, considerable variation between disciplines and for some, completion of a bachelor degree does not yield positive returns. The key factors determining the monetary rate of return are the discipline of the degree and the graduates’ subsequent labour force status. Graduates in full-time employment in most disciplines avoided being among those with low (or negative) rates of return. In addition, there is some evidence of skills mismatch and over skilling among the lowest paid university graduates.

中文翻译：

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大学学位在澳大利亚仍然是一项值得的金融投资吗？

自 2006 年以来，大学毕业生的劳动力市场发生了重大变化，最显着的是 2007 年的全球金融危机和随后的国内生产总值增长放缓，以及大学名额的大幅扩张。本文介绍了澳大利亚与 2016 年在一系列学习领域完成学士学位相关的货币回报的估计，并将其与 2006 年的估计进行比较。结果表明，对于中位数的人来说，仍然有很好的货币激励完成这些程度，私人收益率与长期实际债券利率相比毫不逊色。然而，文章还得出结论，个人投资本科教育的回报在 2006 年至 2016 年期间大多下降。还有，学科之间存在相当大的差异，对于某些人来说，完成学士学位并不会产生正回报。决定货币回报率的关键因素是学位学科和毕业生随后的劳动力状况。大多数学科的全职毕业生避免成为低（或负）回报率的人。此外，有证据表明收入最低的大学毕业生之间存在技能不匹配和技能过度的情况。