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Competencies for young European higher education graduates: labor market mismatches and their payoffs
Authors:Adela García-Aracil  Rolf Van der Velden
Institution:(1) Institute for Innovation and Knowledge Management, INGENIO (CSIC-UPV), Spanish Council for Scientific Research, Technical University of Valencia, Camino de Vera, 46022, Spain;(2) ROA, University of Maastricht, Maastricht, 6200 MD, The Netherlands
Abstract:Labor market rewards based on competencies are analyzed using a sample of young European higher education (HE) graduates. Estimates of monetary rewards are obtained from conventional earnings regressions, while estimates total rewards are based on job satisfaction and derived through ordered probit regressions. Results for income show that jobs with higher participative and methodological competency requirements are better paid. The results also show that higher requirements in terms of competencies increase graduates’ job satisfaction.
Keywords:Assignment theory  Competencies  Income  Job satisfaction  Labor market mismatches
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