Over 30% of PhDs under 30 are unemployed, a record high

Last year, three out of 10 individuals who obtained a Ph.D. were unemployed. Among Ph.D.s under 30, nearly half were either unable to find a job or were not even seeking employment. Even those with a doctorate, about half of them earned less than 60 million won annually.

According to the “2024 Survey of Recent Ph.D. Graduates in Korea” by the Korea Research Institute for Vocational Education and Training, 29.6% of newly awarded Ph.D.s were either unemployed or part of the economically inactive population. This is the highest percentage recorded since the survey began in 2014. The percentage of those explicitly classified as unemployed stood at 26.6%, while 3.0% were economically inactive individuals who were neither working nor seeking employment. The survey was conducted among all Ph.D. recipients from universities across the country who graduated in August 2023 and February 2024, with a total of 10,442 respondents last year.

Nearly 30% of Ph.D. holders remain unemployed, mainly due to the shortage of high-paying, high-quality jobs for individuals with advanced degrees. This issue was particularly severe among Ph.D.s under 30, with nearly half jobless. Among 537 respondents under 30 who earned their Ph.D.s last year, 47.7% were unemployed—a record high since the survey began. The unemployment rate in this group was 45.1%, while 2.6% were economically inactive.

Even among those who found employment, nearly half earned between 20 million and 60 million won per year. Among employed respondents (7,347), 27.6% reported earning between 20 million and 40 million won, while 19.8% earned between 40 million and 60 million won. Meanwhile, 14.4% of respondents reported earning over 100 million won annually.

By field of study, the highest percentage of Ph.D. holders earning less than 20 million won was in Arts and Humanities (25.5%). More than 10% of respondents earning less than 20 million won were in Education (17.3%), Service (15.0%), and Social Sciences, Media, and Information Studies (12.7%).On the other hand, the highest percentage of Ph.D. holders earning over 100 million won was found in Business, Administration, and Law (23.5%), followed by Health and Welfare (21.9%) and Information and Communication Technology (20.3%).


세종=정순구 기자 soon9@donga.com