In April this year, the Ministry of Education and Science (MES) of Republic of Latvia prepared for the second time a publication on the latest monitoring of graduates of higher education institutions, which analyzes the employment rate, income, as well as the most popular study directions and graduates’ opportunities in the labor market in the first years.
Rector of BA School of Business and Finance Līga Peiseniece: “There is one of the highest employment rates among higher education institutions among the graduates of BA School of Business and Finance. A natural result, because study programs are developed and constantly updated in consultation and cooperation with employers, considering future labor market trends. In today’s situation, it is important whether the study content includes courses that are closely linked to future professional roles and the acquisition of the necessary competencies.”
Already in the first and second year after studies, graduates of Latvian higher education institutions receive on average about 22-30% higher remuneration than the national average. In highly qualified positions and professions, people with higher education are in demand: 78% of such jobs are filled by employees with higher education, while the number of highly qualified positions for graduates of BA School of Business and Finance is even higher: 87%, thus BA School of Business and Finance is in 5th place. In turn, evaluating employment in such positions in the context of income level, graduates of BA School of Business and Finance have the best chances to reach the highest level among state higher education institutions (Figure 2).
The total employment of Latvians with higher education is about 90%. The employment of Latvian university graduates and the significantly higher income level above the national average show the growing value of higher education in the labor market, because, for example, only 47% of the total number of such employees have a higher level of education.
Link to the monitoring of university graduates published in the Ministry of Education and Science in 2021: https://www.izm.gov.lv/lv/media/11064/download
MES emphasizes that monitoring is important for two main target groups – prospective students and universities. For students, research can help them make choices in favor of a particular university and study program. The results of graduate monitoring in Latvia were published for the first time in 2020. From now on, each year a group of graduates will be evaluated over a period of 10 years.