New data shows the difference in earnings potential for graduates in South Africa with a Bachelor of Social Sciences degree, and those who have a Bachelor of Commerce degree.
Analytico, a data and earnings analytic consultancy, conducted a comparative earnings analysis of graduates with a B.Soc degree and a B.Com degree, using its Analytico Salary Analysis Model.
Its findings were based on 7,194 individuals, while the leniently assumed age of entry into the labour market was 24 years old.
With regards to earnings capacity, a student who has completed a B.Com is likely to earn a higher salary than a B.Soc student, particular in the upper segment R22,173 vs R17,801.
Taking the median, B.Com graduates can expect a salary of R13,132 versus a median of R12,533 B.Soc grads.
The latest unemployment statistics show that South Africa sits with a youth unemployment rate of 60% – a staggering figure. Two out of three people between the ages of 18 and 28 sit without work.
Underlining the plight of graduates without work experience, the data stated that the unemployment rate for individuals who have completed a B.Com is 33%, versus 49% for those individuals with a B.Soc.
B.Soc falls within the Faculty of Humanities and includes the following subjects: Anthropology, Economics, Gender Studies, Industrial Sociology, Philosophy, Politics and Governance, Psychology, Religious Studies, Social Development and Sociology.
A B.Com may include the following subjects: Auditing, Accounting, Actuarial science, Business System Analysis, Business Economics, Banking and Computers and Management Information Systems.
|Qualification||Lower percentile||Median||Upper percentile|
|B.Com||R6 515||R13 132||R22 173|
|B.Soc||R6 568||R12 533||R17 801|