Human capital and job opportunities according to educational level in Perú

Abstract

Education promotes progress and economic and social growth, improves the quality of life of the population. The first objective of the study was to identify people's income according to the years of schooling, the second was to estimate the income gap according to gender, residence and working conditions, the third was to identify the return of education, work experience towards the income of the Peruvian inhabitants. Parametric tests and the two-stage Heckman model were used to obtain the results. The data come from the National Household Survey. Income differs according to schooling. There are gaps in earned income. For one more year of education, the monetary return amounts to 12,46%, if it is a woman, it is 13,23%, if it is a man, it is 11,51%, if it resides in an urban area it amounts to 10,62%, if it is a resident in rural areas it amounts to 9,83%.

Keywords: Labor income, returns to education, Mincer equation, Heckman methodology.

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