Employment and salaries of university graduates: impact evaluation of a financial aid programme by means of propensity score matching

Empleo y salarios de los graduados universitarios: evaluación del impacto de un programa de ayuda financiera mediante propensity score matching

Patricia Hernández-Medina , Daniel Goncalves Hernández , Luis Morales La Paz

Suma de Negocios, 15(33), 99-110, julio-diciembre 2024, ISSN 2215-910X

https://doi.org/10.14349/sumneg/2024.V15.N33.A3

Received: April 3, 2024
Accepted: June 22, 2024
Online: July 12, 2024

Resumen

Introducción / objetivo: el financiamiento educativo en Venezuela es limitado, especialmente en instituciones de educación superior privadas, debido a restricciones presupuestarias. A pesar de estas limitaciones, algunos programas de subvenciones logran atender a una proporción significativa de estudiantes. El propósito de esta investigación fue evaluar el impacto de un programa de ayuda financiera en una universidad latinoamericana, analizando la probabilidad de empleo y la remuneración en tres momentos clave: durante la carrera, al graduarse y tres años después de egresar.

Metodología: se utilizó una muestra de graduados de diversos programas, recolectando información sobre su trayectoria laboral mediante una encuesta de seguimiento. El análisis se realizó utilizando la metodología de propensity score matching mediante el estimador del efecto medio del tratamiento (ATT), empleando tanto metodologías paramétricas como no paramétricas.

Resultados: los resultados muestran una relación inversa entre el tratamiento y el salario percibido en los períodos de evaluación, y una relación positiva con la probabilidad de empleo. Sin embargo, en ningún caso los coeficientes estimados fueron significativos, tanto para el vecino más próximo, como para los cinco o diez vecinos más próximos, la estimación Kernel y la estimación lineal local, considerando el soporte común y el recorte del 20 %.

Conclusiones: no se puede afirmar que la subvención recibida durante la carrera mejore de manera significativa las variables de inserción laboral y remuneración. Esto sugiere la necesidad de un programa integral que incluya apoyo en los procesos de inserción laboral para mejorar estos resultados.


Palabras clave:
Programa de ayudas económicas,
evaluación de impacto,
educación superior,
empleo graduado,
salario graduado,
propensity score matching.

Códigos JEL:
I22, I23, C31, C52

Abstract

Introduction / Objective: Educational funding in Venezuela is limited, especially in private higher education institutions, due to existing budget constraints. Despite these limitations, some grant programmes manage to serve a significant proportion of students. The purpose of this research was to evaluate the impact of a financial aid programme at a Latin American university by analysing the probability of employment and remuneration at three key points in time: during the degree programme, upon graduation, and three years after graduation.

Methodology: A sample of graduates from various programmes was used, and information about their career paths was collected by means of a follow-up survey. The analysis was conducted using propensity score matching through the Average Treatment Effect on the Treated (ATT) estimator, employing both parametric and non-parametric methods.

Results: The results indicate an inverse relationship between the financial aid received and the salary earned during the evaluation periods, alongside a positive relationship with the probability of being employed. However, none of the estimated coefficients were significant, whether for the nearest neighbour, the 5 or 10 nearest neighbours, the Kernel estimation, or the local linear estimation, taking into account the common support and the 20% trimming.

Conclusions: It cannot be concluded that the grant received during the degree programme significantly improves employment and remuneration outcomes. This suggests the need for a comprehensive programme that includes support in job placement processes in order to enhance these outcomes.


Keywords:
Financial aid programme,
impact evaluation,
higher education,
graduated employment,
graduated salary,
propensity score matching.

Artículo Completo
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Universidad Nacional del Chimborazo, Riobamba, Ecuador and Universidad Católica Andrés Bello, Caracas, Venezuela
Universidad Carlos III Madrid, España
Universidad Católica Andrés Bello, Caracas, Venezuela
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