Comparative analysis of the returns to education by industries in Kazakhstan

Abstract

This paper uses the Household Budget Survey data to estimate returns to education by industries in Kazakhstan for 2019. The comparative analysis by industries has shown that the returns to schooling tend to be relatively high and statistically significant. The expectations on estimates of returns were partially fulfilled with Education and Finance industries having the highest returns to schooling. The results of the study show that most of the industries that formally require higher educational attainment (Education, Information and communication, Financial and insurance activities) have greater returns to schooling