| As an important way to break the solidification of social stratification and reverse the intergenerational transmission of income distribution,education has an unshirkable responsibility and a non-negligible role in improving individual income satisfaction.But for a big country like China,where there is a system transition,the higher the level of education,the lower the income satisfaction.As the country increased its investment in education,the education level of residents generally increased;especially after the expansion of colleges and universities in 1999,The number of undergraduate graduates in various universities has increased significantly,from 2.12 million in 2013 to 8.34 million in 2019;the number of graduate students has also increased substantially.and the per capita education period reached 9.5 years.This has led to an increasing pressure on graduates,a reversal of the benefits and costs of education,and a decline in the income satisfaction of those with higher levels of education,which has led to questions from the masses.What is the relationship between education and income satisfaction?What is the mechanism of education affecting income satisfaction?Will there be a difference between urban and rural areas?Based on the research of relevant literature,this paper uses the 2015 China Comprehensive Social Survey Data(CGSS)to explore the impact of education level on income satisfaction.Specifically,it analyzes the impact of education level on income satisfaction,and further analyzes heterogeneity in urban and rural areas and different status.On the basis of the previous paper,the transmission mechanism of education level affecting income satisfaction is discussed,and the following conclusions are drawn:First,on the basis of the control of the relevant variables,the full sample OLS estimation results show that the education level has a negative impact on income satisfaction,and the results of the ordered multi-class Logistic are also the same.The results of the group sample estimation show that the influence of education level on residents' income satisfaction is heterogeneous:(1)the urban sample is more significant than the rural sample,which is more significant because the urban residents' education return rate is relatively higher.More attention is paid to the level of education,(2)In the case of sub-levels,the higher the level of the sample group,the greater the negative impact of education level on income satisfaction,and the more significant,only the high number of samples is very limited,which is not significant.Because the higher the social class,the more emphasis on education,the greater the investment in education,and the higher return on income,so that the lower the income satisfaction,Similarly,the marginal decline of the positive effect of education makes the negative effect more prominent.(3)Under the condition of economic status,the higher the economic status,the greater the negative effect of education level on income satisfaction,the more significant,similar to the sub-level,the higher the economic status,the more funds for education investment.That is,human capital investment,but the final return on income does not meet its own expectations,resulting in lower income satisfaction.Secondly,the transmission mechanism of education level to income satisfaction shows that the degree of education not only has a direct negative effect on income satisfaction,but also indirectly affects income satisfaction through both positive and negative directions.Among them,the education level improves income satisfaction through three mediators of absolute income,economic status and class status,and reduces income satisfaction through subjective satisfaction income and poverty income standard.The above illustrates the complexity of this mechanism of influence.Finally,the full sample contribution rate of education level is 5.85%through the Sharpe decomposition method,and the urban sample contribution rate is 6.57%,which is larger than 1.33%in rural areas.The education level in cities is more affected,which is consistent with the previous analysis..The results of the robustness test also show that the degree of education has a stable effect on income satisfaction.Under the condition that the education level of parents is used as a tool variable,endogenous test is carried out,and the level of significance is reduced,indicating that education is indicated.The extent of the impact is overestimated. |
