Overeducation in University Graduates for STEM Careers in Peru
Main Article Content
Introduction
The relationship between investment in education for STEM fields and salary returns often lacks alignment, necessitating an in-depth examination of the characteristics and effects of the mismatch between these two variables.
Objective
This study aims to identify the factors underlying the education-employment mismatch among university graduates in science, technology, engineering, and mathematics (STEM) disciplines, as well as to evaluate its impact on wage outcomes.
Methodology
Data were sourced from the 2014 National Survey of University Graduates and Universities in Peru. The mismatch was assessed using a self-evaluation method. A Partial Generalized Ordinal Logit Model was employed to analyze the determinants of both mild and severe levels of mismatch, with a particular focus on the latter. Additionally, wage penalties associated with the mismatch were estimated using the Propensity Score Matching (PSM) technique.
Results
The findings indicate that 69% of STEM graduates in Peru experience employment mismatch, a proportion that is among the highest in Latin America and significantly exceeds the rates observed in developed countries.
Conclusions
The primary factors contributing to severe levels of mismatch include individual characteristics of graduates, their geographic and socio-educational backgrounds, and their academic trajectories. The wage penalty associated with mismatch among STEM graduates was estimated at approximately 24% compared to adequately employed peers, surpassing penalty rates reported in Europe, Asia, and North America
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