This has led to speculation over the years that the profession runs a quota system, perhaps (a) to limit the supply of those who pass the exams and qualify in the profession or (b) because a high fail rate might give the impression of difficulty and high value to a qualification that is not easy to obtain.
3We also notice that, if education signals certain characteristics that individuals have (Spence 1974), a change in the pool of individuals acquiring a given educational level might produce a change in the signalling value of the qualification and in the associated wage.
How you use those is what determines the future value of your qualification.
Many current students have no funding, and newly minted PhDs find themselves competing for posts in a job market which, both in academia and outside, has yet to recognise the value of the qualification.
There is considerable debate over the value of raising qualification requirements with some arguing that this will have no effect on program effectiveness and others arguing that highly qualified teachers are one key ingredient of a highly effective (Zigler, Barnett, & Gilliam, 2011).
There are exciting possibilities to empower current students to share their experiences directly with prospective students, to talk about the opportunities available at university and the value of a higher education, not just the qualification.
The lack of a qualification marks a shift.
Ebert, however, says that's not enough of a qualification.
[It] is virtually impossible to justify and it has done more than anything to undermine confidence in the value of those qualifications".
"[It] is virtually impossible to justify and it has done more than anything, in my view, to undermine confidence in the value of those qualifications.
