Abstract
This paper utilizes data from the China General Social Survey (CGSS) conducted in 2005, 2010, 2015, 2017, 2018, and 2021. Referring to the Mincer equation, we construct an econometric model and employ Ordinary Least Squares (OLS) regression for estimation. The regression results reveal that the rate of return to education for individuals with a bachelor's degree or above, as well as those with junior college, vocational high school, and senior high school qualifications, relative to those with junior high school or below, experienced a significant decline between 2005 and 2015, and has remained relatively stable between 2015 and 2021. Additionally, we find that the rate of return for higher education exceeds that of other educational levels. Furthermore, subgroup regression analysis indicates that the returns to higher education in eastern regions are higher than in other areas. This may be attributed to the more developed economy and higher wage levels in eastern regions, as well as their greater demand for highly educated talent.
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