Winiswa Mavutha 1 , Farai Nyika 2 , and Hatikanganwi Mapudzi 3
1Durban University of Technology (DUT), South Africa
1MANCOSA, Durban, South Africa
2London College of Communication, University of the Arts, London, United Kingdom.
Abstract: Pursuing full-time postgraduate studies implies delaying gaining work experience. This study examines the extent to which postgraduate studies correlate with career advancement in South Africa. We use a quantitative methodology to understand the correlation between postgraduate qualifications and senior management and executive positions at 27 of the Top 40 companies listed on the Johannesburg Stock Exchange (JSE). We also identify qualifications required by recruiters for jobs advertised in January and May 2023 and find that less than 1% of advertised jobs required master’s and PhD qualifications. We also find that most senior managers and executives do not hold advanced education qualifications. We concluded that these JSE firms and the labour market in general place a greater value on value work experience and expertise acquired through practice, rather than study. The study casts doubt on the importance of advanced education qualifications to acquire jobs or career advancement in South Africa.
Keywords: Johannesburg Stock Exchange; PhD; Higher Education; Labour Market Outcomes JEL Classification: I23, I26
Published: May 25, 2024
References:
Alfano, V., Gaeta, G. and Pinto, M. (2021). Non-academic employment and matching satisfaction among PhD graduates with high intersectoral mobility potential. International Journal of Manpower, 42(7), 1202–1223.
Alpaydın, Yusuf, and Kürşad Kültür. (2022). Improving the transition from higher education to employment: a review of current policies. Education Policies in the 21st Century: Comparative Perspectives, 103-129.
Atkinson, M., Brodie, A., Kafcaloudes, P., McCarthy, S., Monson, E. A., Sefa-Nyarko, C., … & Yu, W. (2022). Illuminating the liminality of the doctoral journey: precarity, agency and COVID-19. Higher Education Research & Development, 41(6), 1790-1804.
Bawono, S. (2021). Human capital, technology, and economic growth: A case study of Indonesia. Journal of Asian Finance, Economics and Business. 8(5), 0029–0035
Burke, C., Scurry, T., & Blenkinsopp, J. (2020). Navigating the graduate labour market: The impact of social class on student understandings of graduate careers and the graduate labour market. Studies in Higher Education, 45(8), 1711-1722.
Chankseliani, M., Qoraboyev, I., & Gimranova, D. (2021). Higher education contributing to local, national, and global development: new empirical and conceptual insights. Higher Education, 81, 109-127.
Copeland, E. J. (2023). Creating a pathway: The role of historically Black institutions in enhancing access, retention, and graduation. In How Black colleges empower Black students (pp. 51-61). Routledge.
Department of Science and Innovation. (2023, December 14). President Ramaphosa announces R1 billion PhD initiative for science, technology, and innovation. Linkedin.com. Retrieved September 30, 2023, from https://www.linkedin.com/pulse/president-ramaphosa-announces-r1-billion 2jhue%3FtrackingId=QzPj17KDT%252F%252BdmPpfPAKzfA%253D%253D/?trackingId=QzPj17KDT%2F%2BdmPpfPAKzfA%3D%3D.
de Guzman, A. B. and Choi, K. O. (2013). The relations of employability skills to career adaptability among technical school students,” Journal of Vocational Behaviour, 82(3), 199–207.
Etomes, S. E., & Molua, E. L. (2023). Analysis of the market for Doctor of Philosophy (PhD) and economic returns in Cameroon: An archetypical African economy. Heliyon, 9(11).
Gómez, M., & Irewole, O. E. (2023). Economic growth, inflation, and unemployment in Africa: an autoregressive distributed lag bounds testing approach, 1991–2019. African Journal of Economic and Management Studies.
Goneos-Malka, A. (2018). PHD EMPLOYABILITY IN CORPORATE SOUTH AFRICA. In: Spaces, journeys, and new horizons for postgraduate supervision, 12, 133. Edited by Bitzer, E., Frick, L., Fourie-Malherbe, M., and Pyhältö. https://www.emerald.com/insight/content/doi/10.1108/AJEMS-09-2022-0378/full/html?casa_token=alV5fYKHoCsAAAAA:XRCD_HLXcOkNwb5YgJYTAxBnibjSntU8WfCi4dOqPscESbJHqMOFez02GGN9zn5Ma8iVZCoLH1tdT6kES3kZlIB6WNwTgmoAMrGPpwb5kfnq_sbKqK0
Guan, Y. et al. (2013). Career adaptability, job search self-efficacy and outcomes: A three-wave investigation among Chinese university graduates. Journal of Vocational Behaviour, 83, 561–570. Available at: https://reader.elsevier.com/reader/sd/pii/S0001879113001553?token=479EBC2A7C6D1833F168930206C2D1FD1308750E93BB9A8F4569085F3E3FF0E872E74107019F9BB470B108F85B6A02B8&originRegion=eu-west-1&originCreation=20230208085914
Habiyaremye, A., Habanabakize, T., & Nwosu, C. (2022). Bridging the labour market skills gap to tackle youth unemployment in South Africa. The Economic and Labour Relations Review, 33(4), 786-805.
Halibas, A. S., Mehtab, S., Al-Attili, A., Alo, B., Cordova, R., & Cruz, M. E. L. T. (2020). A thematic analysis of the quality audit reports in developing a framework for assessing the achievement of the graduate attributes. International Journal of Educational Management, 34(5), 917-935.
Johnston, C. S. et al. (2013). Validation of the German version of the Career Adapt-Abilities Scale and its relation to orientations to happiness and work stress. Journal of Vocational Behaviour, 83(3), 295–304.
Lauder, H., & Mayhew, K. (2020). Higher education and the labour market: an introduction. Oxford Review of Education, 46(1), 1-9.
Machin, T. M., & Parsons-Smith, R. L. (2019). Experiencing the journey together: The role of social support during the doctorate. Traversing the Doctorate: Reflections and Strategies from Students, Supervisors and Administrators, 269-285.
Maggiori, C. et al. (2013). The role of career adaptability and work conditions on general and professional well-being. Journal of Vocational Behaviour, 83(3), 437–449.
Mikhailov, A. M., & Kopylova, A. A. (2020). Relationship Between the Economy Digitalization and the “Knowledge” Production Factor. In Digital Age: Chances, Challenges and Future 7 (pp. 27-38). Springer International Publishing.
Mseleku, Z. (2022), “Youth high unemployment/unemployability in South Africa: the unemployed Mseleku, Z. (2022). Youth high unemployment/unemployability in South Africa: the unemployed graduates’ perspectives. Higher Education, Skills and Work-Based Learning, 12(4), 775-790. https://doi.org/10.1108/HESWBL-06-2021-0114
Parenti, B., Pinto, M., & Sarno, D. (2022). Job satisfaction among Ph. D. holders: How much do regional divides and employment sectors matter?. Higher Education Policy, 35(2), 318-374.
Peng, P., Song, Y., & Yu, G. (2021). Cultivating proactive career behavior: the role of career adaptability and job embeddedness. Frontiers in Psychology, 12, 603890.
Pitan, O. S., & Muller, C. (2020). Student perspectives on employability development in higher education in South Africa. Education+ Training, 63(3), 453-471.. https://doi.org/10.1108/ET-02-2018-0039
Santos, J. M., Horta, H., & Heitor, M. (2016). Too many PhDs? An invalid argument for countries developing their scientific and academic systems: The case of Portugal. Technological Forecasting and Social Change, 113, 352-362.
Sarrico, C. S. (2022). The expansion of doctoral education and the changing nature and purpose of the doctorate. Higher Education, 84(6), 1299-1315.
Savickas, M. L. (1997). Career adaptability: An integrative construct for lifespan, life-space theory. The Career Development Quarterly, 45(3), 247–259. https://doi.org/10.1002/j.2161-0045.1997.tb00469.x
Savickas, M. L. and Porfeli, E. J. (2012). Career Adapt-Abilities Scale: Construction, reliability, and measurement equivalence across 13 countries. Journal of Vocational Behaviour, 80(3), 661–673.
Savickas, M. L. (2013). Career construction theory and practice. In: Brown, S., and Lent, &. R. (eds.) Career development and counselling: Putting theory and practice to work. Hoboken, NJ: John Wiley & Sons, Inc, pp. 147–183.
Shivoro, R. S., Shalyefu, R. K. and Kadhila, N. (2017). Perspectives on graduate employability attributes for management sciences graduates. South African Journal of Higher Education, 32(1). https://www.journals.ac.za/index.php/sajhe/article/view/1578
SAQA. (2022). South African Qualifications Authority Professional Designation. CA (SA) – Chartered Accountant (South Africa). https://pbdesig.saqa.org.za/viewProfessionalDesignation.php?id=8
Statistics South Africa. (2022, June 1). South Africa’s youth continue to bear the burden of unemployment. https://www.statssa.gov.za/?p=15407
Tolentino, L. R., Garcia, P. R. J. M., Lu, V. N., Restubog, S. L. D., Bordia, P., & Plewa, C. (2014). Career adaptation: The relation of adaptability to goal orientation, proactive personality, and career optimism. Journal of Vocational Behavior, 84(1), 39-48.
Tran, L. T., Rahimi, M., Tan, G., Dang, X. T., & Le, N. (2020). Post-study work for international graduates in Australia: opportunity to enhance employability, get a return on investment or secure migration? Globalisation, Societies and Education, 18(5), 495-510. https://www.tandfonline.com/doi/full/10.1080/14767724.2020.1789449
Universities South Africa. (2023, July 15). Startling Survey findings: SA is graduating fewer doctoral candidates. https://usaf.ac.za/startling-survey-findings-sa-is-graduating-fewer-doctoral-candidates/
Wingfield, B. (2019, 6 November). Why PhDs are good — for individuals, and for a country. The Conversation, Available at: http://theconversation.com/why-phds-are-good-for-individuals-and-for-a-country-123935
Witteveen, D., & Attewell, P. (2021). Delayed time-to-degree and post-college earnings. Research in Higher Education, 62, 230-257. https://link.springer.com/article/10.1007/s11162-019-09582-8
Zacher, H. (2014). Career adaptability predicts subjective career success above and beyond personality traits and core self-evaluations. Journal of Vocational Behaviour, 84(1), 21–30. https://www.sciencedirect.com/science/article/abs/pii/S0001879113001668
International Journal of Social Sciences & Educational Studies
ISSN 2520-0968 (Online), ISSN 2409-1294 (Print), December 2023, Vol.11, No.1