Changes in Wage Differentials among College Graduates in South Korea, 1999－2008

This paper examines the changes in relative wage of top 10 college graduates to the other college graduates among the age group of 26－28years using Korean Labor and Income Panel Study (KLIPS). From 1999 to 2008, the wage differential between top 10 college graduates and the other college graduates increased in South Korea. This wage differential seems to persist along with their age. Within industry wage differential among college graduates also rose but in the late 2000s it became smaller than the wage differential within firm size and industry. Increase in elite college wage premium has led to recent changes in college wage premium.