Bachelor's degrees are a popular option among young students, but new data claims university might not be the best option for those seeking happiness and wealth in the early years of employment.
Almost 3,000 young people were surveyed as part of Australian Industry (Ai) Group's research into the "real trajectories and early career pathways" of 25-year-olds, with nearly half holding a Bachelor or postgraduate degree.
Tradies performed better than their tertiary-educated counterparts, with a difference of 16 per cent between the groups' wages at that age.
Feeling like the grass – and hip pocket – was greener on the other side, Braidan Quinlan dropped his teaching studies to undertake a carpentry trade.
It's a path he almost never explored, having been pressured in high school to attend university.
Tertiary expectations among school-leavers
"When I was in year 12, there wasn't really any talk of a trade or TAFE – it was more just pushing for university," Mr Quinlan said.
"Everyone wanted to go to university, everyone thought it was the right way to go, but if I could go back I would've started an apprenticeship when I was [a teenager].
"It would've been a good way to get ahead, I think."
The third-year apprentice was fed up with the narrative he needed a degree to "get forward in life".
"I went [to university] for a few years … but found it really wasn't for me," Mr Quinlan said.
"I got offered this great apprenticeship at HNT Builders and have been enjoying it ever since."
Difference made by 'real-world' learning
One of the key findings in Ai Group's report was the benefit of "learning in a real-world setting", with almost all postgraduates and apprentices reporting full employment by 25 – meanwhile, only 92 per cent of those holding a Bachelor are employed at this age.
Postgraduates and apprentices also recorded the highest levels of job satisfaction, with respondents particularly pleased with the opportunities for further training as well as the chance to use their skills and experience on the job.
"I'm loving it," Mr Quinlan said.
"The skills I've developed, both from trade school and on-the-job, have been phenomenal."
Although he admits a teaching salary would've been "a lot nicer" than the apprentice wages he started on, Mr Quinlan has his eyes set on the big picture.
"Long-term, I feel there's so many more avenues to potentially make more money [as a tradie]," he said.
"You can start your own business or jump over to the commercial sector.
"There's just more opportunity to make a better living, and that's part of why I moved away from [studying to be a teacher]."
Putting in the hours
The data shows, although tradies are raking in the cash, they also work the most hours.
Apprentices undertake an average of seven additional hours, increasing their work week to 42 hours.
"These findings are a strong endorsement of the apprentice/trainee pathway and the many benefits that can follow, including higher pay," Ai Group said.
In the long run
"We should exercise some caution in drawing conclusions comparing pay at age 25 [as] other evidence suggests higher-qualified workers are likely to have stronger wage growth over their careers," the report notes.
But, in those early career years, the job satisfaction of university graduates often suffers as a result of being over-qualified for the positions they hold.
"A total of 36 per cent of Bachelor's degree holders [are] working in jobs below the skill level aligned with their qualification," Ai Group reported.
"Higher education students likely need to combine the deep knowledge of a degree with other types of learning and experience to forge a career.
"This suggests we need a more flexible education and training system that allows young people to acquire knowledge, skills and capabilities throughout their time 'learning' and to continue while they are 'earning and learning'."
