Growth in coursework masters enrolments

Growing demand for tertiary qualifications among domestic students Postgraduate studies and short courses are becoming increasingly popular among students, a report into the industry shows. The report, from business analysts IBISWorld, shows an increased demand among Australian adults for tertiary programs saw domestic enrolments in postgraduate programs grow by 13.4 per cent in the five years to 2009 – with masters by coursework recording the biggest surge. Enrolments in coursework grew by 18.1 per cent. Over the same time, enrolments in undergraduate programs increased by 13.5 per cent - the strongest growth being in associate degrees, which recorded a staggering 219.8 per cent, followed by bachelors degrees at 12.3 per cent. “While Australia’s education sector may be seeing a slump in enrolments from international students, domestically, baby boomers, those in generation X and even the younger generation Y are heading back to school to upskill, reskill and pursue personal interests in a more structured, organised manner,” said IBISWorld general manager (Australia) Robert Bryant. IBISWorld expects the boost in domestic student enrolments will help to lift the higher education sector’s return from $22.4 billion (2010-11) to $27.48 billion by 2015-16. As for the reason behind the surge in those wanting to study, Bryant said growth was largely driven by adults wanting to expand their skills and those trying to retrain, as well as a rise in the number of people chasing a better work/life balance by dedicating time and resources to areas of personal interest. “Whilst we have recovered from the worst of the global financial crisis, its impact lingers on as a wake-up call to employees in many sectors,” he said. “When the economy was particularly buoyant people were not concerned about job security and the prospect of unemployment seemed unlikely. While the economy is holding up, many people are now more aware of adding value to what they can offer their employer in order to boost their promotion prospects and secure their position – just in case.” Other factors driving the return to education among baby-boomers and younger adults are the convenience and growing diversity of online course options; as well as the advent of more “leisure education” courses in areas such as foreign languages, dance classes and fitness courses. IBISWorld believes short courses – both for pleasure and professional development – will be a strong growth sector for the education industry in the next decade. This is particularly so as the range of options continues to grow, and becomes increasingly comprehensive and diverse. “The breadth and depth of short courses on offer is incredible – and growing rapidly, with providers including private schools and colleges, TAFE institutions and professional specialists. Baby-boomers’ presence is strong in these short courses as they find themselves retired with money in their pockets and time on their hands, with the 45- to 64-year age bracket accounting for 18.6% of total TAFE enrolments – with popular courses including business and commerce and those relating to the hospitality industry.” In the short course market, IBISWorld has identified professional development programs - at present worth $1.38 billion - as a core segment for expansion, with many industry groups offering courses to update participants on the latest developments in their field. “While the professional development segment had a leaner year in 2009 as employees cut back on training budgets, it has already begun to rebound in 2010 as business confidence rises and a strengthening job market encourages employers to invest in their staff,” Bryant said. As for why generations X and Y are heading back to study, Bryant said the cultural shift away from the old-fashioned “jobs for life” mentality has left younger Australians open to studying new things. “In 2008 there were 201,589 students aged 30 and over enrolled in tertiary study, up from 198,907 two years earlier. Students aged 30-plus make up about 27 per cent of total tertiary students, with 44 per cent of these enrolled in undergraduate programs and 56 per cent in postgraduate. Currently, 35.2 per cent of TAFE positions are filled by those aged between 25 and 44.” The rapidly expanding range of courses available through online delivery is a key growth driver for the popularity of postgraduate study, Bryant said. It is, however, is favoured by younger adults and baby-boomers ahead of school leavers, who prefer the social interaction associated with on-campus study and may lack the discipline to combine work with part-time online learning. “The acceleration of online courses and flexible study options through providers such as Open Universities Australia and Kaplan encourages time-poor adults to take up programs in their own time, and at their own pace,” Bryant said.