VITTANA IMPACT ASSESSMENT

31 January 2014 Kate Cochran Skinny Rat Social Impact Solutions

SUMMARY OF FINDINGS
85% of survey respondents are employed more than a year after graduation. 79% of employed graduates are working in the field they studied.

477 graduates surveyed in six countries Employed graduates who were working before school increased their salaries an average of 93%, but there is a wide range. Half increased by 38% or more. 77% of graduates in Nicaragua who were surveyed in 2011 and 2013 reported year over year increases in income, averaging 55% in the first period and 21% in the next.
VITTANA IMPACT ASSESSMENT FINAL REPORT 2

AREAS OF FOCUS AND DATA CUTS

Total Population By field of study By School Type By Country By Grad. Cohort

Employment Salary + Change Time to Employment

VITTANA IMPACT ASSESSMENT FINAL REPORT

EMPLOYMENT

N = 475 total respondents

ARE GRADUATES EMPLOYED?

Excluding 2013 graduates, 85% of graduates are employed. Including the 2013 graduates, however, drops the employed rate to 75%. This is consistent with the average of five months to find a job that respondents reported.
Unemployed 46 15%

Employed 257 85%

EMPLOYMENT

VITTANA IMPACT ASSESSMENT FINAL REPORT

EMPLOYMENT BY COHORT

100% 4 90% 6 80% 70 11 25

70%

60%

EMPLOYED 2008 2009 2010 2011 2012 2013 TOTAL

75% 68% 89% 88% 84% 59% 75%

UNEMPLOYED
25% 32% 11% 12% 16% 41% 25%
10% 50% 32 40% 13 30% 102 81 131

20%

0%

2009

2010 EMPLOYED

2011 UNEMPLOYED

2012

2013

EMPLOYMENT

VITTANA IMPACT ASSESSMENT FINAL REPORT

COUNTRY RESULTS
100% 90% 5 80% 70% 60% 50% 40% 11 30% 20% 10% 0% 19 7 25 31 11 4 25 57 1 8 18 16 7 2 17 54 42 3 1 3 20 4 3 5 1 8 3 2 8 2 7 5 2 5 2

31

2009

2010

2011 Nicaragua

2012

2013

2011

2012 Philippines

2013

2009

2010

2011 Vietnam

2012

2013

2009

2010

2011 Paraguay

2012

2013

2011

2012 Mongolia

2013

2012

2013

Bolivia

EMPLOYED

UNEMPLOYED

EMPLOYMENT

VITTANA IMPACT ASSESSMENT FINAL REPORT

SCHOOL TYPE& WORKING IN THEIR FIELD

While employed graduates appear to be most likely working in their field of study, the data are inconclusive over whether type of degree university or vocational/technical makes it easier to gain employment.

No, 76, 21%

Yes 282 79%

EMPLOYED % COLLEGE VOCH/TECH 75% 75% N 320 33

UNEMPLOYED % 25% 25% N 105 11

Are employed graduates working in their fields of study?

EMPLOYMENT

VITTANA IMPACT ASSESSMENT FINAL REPORT

SALARY

N = 359 employed graduates

DID STUDENTS IMPROVE THEIR EARNINGS?

249 graduates reported current income as well income prior to the loan. This is roughly half the students surveyed. 23 students, 9% lowered their incomes 25% did not change their incomes but 25% (68) doubled their incomes or better. Half increased their income by 38% or more On average, students showed a 90% increase over previous incomes. While some outliers reported 1000% increases, there were enough of them (6) that we did not remove them.
80 70 60 50 40 30 20 10 0 1 -80% 2 -70% 2 -60% 2 -50% 2 -40% 3 -30% 5 -20% 12 2 -10% 0% 10% 25 16 20% 40% 11 50% 10 70% 80% 18 8 90% 100%+ 62

25th percentile: 0%

Median: 38%

Max. 75th percentile: 1753% 100%

68

Salary Change Distribution

SALARY

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MONTHLY SALARIES OVER TIME

Comparing our entire dataset combines too many fields and countries to show meaningful progression over time. However, isolating the 37 students in two countries who provided salary data at three points in time shows a general trend toward increasing compensation year over year. Monthly Salary - 22 Nicaraguan Graduates
$2,000 $1,800 $1,600 275% $1,400 $1,200 $1,000 $800 $600 $400 $200 $0% -20% 5 6 9 $708 $1,167 $708 $740 $1,280 $875 $808 $1,333 $833 14% 14% 18% 3 $667 $667 $833 25% 8 17 13 7 $358 $572 $708 $346 $400 $1,000 $916 $383 $459 $750 $1,000 $499 28% 31% 41% 44% 18 12 2 $278 $667 $417 $500 $833 $417 $414 $1,000 $675 49% 50% 62% 14 $333 $500 $570 71% 10 11 1 16 15 $450 $667 $303 $542 $821 $558 $833 $303 $833 $1,250 $833 $1,288 $633 $1,150 $1,833 85% 93% 109% 112% 123% 19 $373 $708 $1,104 196% 20 $500 $1,250 $1,667 233% 22 $265 $958 $1,083 309% -25% 14% 14% 25% 28% 31% 41% 44% 49% 50% 62% 71% 85% 93% 109% 112% 123% 196% 233% 225% 175% 125% 75% 25% 309% 375% 325%

18%

SALARY

21 4 Pre-loan Income USD $417 $667 2011 Monthly Income USD $1,333 $683 2013 Monthly Income USD $333 $667 % Change Pre-2013 -20% 0%

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MONTHLY SALARIES OVER TIME

Comparing our entire dataset combines too many fields and countries to show meaningful progression over time. However, isolating the 37 students in two countries who provided salary data at three points in time shows a general trend toward increasing compensation year over year. Monthly Salary - 15 Paraguayan Graduates
$1,400 $1,200 $1,000 $800 300% $600 $400 $200 $Pre-loan Income USD 2012 Monthly Income USD 2013 Monthly Income USD % Change Pre-2013 200% 100% 0% 600% 500% 400%

1 $618 $706 $618 0%

2 $883 $1,325 $883 0%

3 $353 $353 $366 4%

4 $331 $596 $353 7%

5 $309 $353 $442 43%

6 $243 $353 $353 45%

7 $375 $552 $552 47%

8 $221 $287 $331 50%

9 $636 $699 $1,104 74%

10 $316 $618 $552 75%

11 $265 $442 $486 83%

12 $287 $663 $795 177%

13 $375 $729 $1,104 194%

14 $221 $398 $663 200%

15 $133 $331 $773 483%

Pre-loan Income USD

2012 Monthly Income USD

2013 Monthly Income USD

% Change Pre-2013

SALARY

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YEAR OVER YEAR ANALYSIS

AFODENIC, NICARAGUA
Student loan product launched
N=22

Survey #1

Survey #2

Average Income Grew

55%

Average Income Grew

21%

Average Income Grew 2009 2010 2011 Average Income Grew

Average Income Grew

77%
2012 2013

99%
Average Income Grew

61%

19%

Student loan product launched

N=15

Survey #1

Survey #2

FUNDACION PARAGUAYA
VITTANA IMPACT ASSESSMENT FINAL REPORT 13

WHAT DO GRADUATES EARN?

Average Monthly Salary for Employed Graduates, USD By Graduation Year
1200 $1,049 1000

800

600 $407 $318

$562

$534

$724 $656 $585 $553

400

$309$325

$307

$331$339 $293

$374
$185$166 $111

$204 $196 $225 $175

200

$188
Bolivia Mongolia

$141
Nicaragua $307 $534 $293 $331 $339

$126
Vietnam $196 $204 $225 $175

0 2009 2010 2011 2012 2013

$109
Paraguay $1,049 $553 $585 $724 $656 Philippines

$51

$407 $318

$562 $309 $325

$185 $166 $111

Text in red = national minimum monthly wage in 2013

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DID STUDENTS WORKING IN THEIR FIELD OF STUDY EARN MORE?

$900.00 $800.00 $700.00 $600.00 $500.00 $400.00 $300.00 $200.00 $100.00 $13 In Field-Bolivia 11 Out of FieldBolivia 5 In FieldMongolia 2 Out of FieldMongolia 63 In FieldNicaragua 21 Out of FieldNicaragua 31 In FieldParaguay

The data are inconclusive about whether students finding jobs related to their majors secure higher salaries. The question itself may also be open to interpretation as graduates may determine working in their field more narrowly or more broadly.
Average Monthly Salary USD
$772.75

$602.97 $427.84 $359.93 $220.72 $361.03 $257.99 $141.16 $170.04 $201.86 $199.98 $430.65

2 Out of FieldParaguay

40 In FieldPhilippines

8 Out of FieldPhilippines

35 In Field-Vietnam

15 Out of FieldVietnam

SALARY

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TYPE OF SCHOOL EFFECTS ON SALARY

We have heard that graduates from technical schools can earn more than university graduates, at least initially. Early data supports this premise but our data from technical graduates is limited, n = 28
Monthly Average Salary USD
$600.00 $560.00 $520.00 $480.00 $440.00 $400.00 $360.00 $320.00 $280.00 $240.00 $200.00 $160.00 $120.00 $80.00 $40.00 $80 UniversityNicaragua 2 TechnicalNicaragua 54 UniversityParaguay 3 TechnicalParaguay 36 UniversityPhilippines 12 TechnicalPhilippines 39 UniversityVietnam 11 TechnicalVietnam 0 1

$569.88

1.2

$369.39 $328.86 $323.91

0.8

0.6

$202.69 $144.54 $150.29

$196.35

0.4

0.2

SALARY

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SALARY INCREASE BY COUNTRY

Total 253 93% Bolivia

Average increases by country are impressive.

12

106%

Vietnam Paraguay Nicaragua

73

56%

136
N= 89

97%

22
0% 20% 40% 60% 80% 100% 120%

138%
140% 160%

The Philippines and Mongolia had too few data points to report individually.

SALARY

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SALARY INCREASE BY COHORT

Total 253

93%

2010

Although our hypothesis is that salaries will increase year over year, these data are both too diverse in terms of field and too sparse to draw any conclusions.

2009

12

65%

28

103%

2011

60

117%

2012

87

83%

2013

66
0% 20% 40% 60% 80%

83%
100% 120% 140%

SALARY

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LENGTH OF TIME TO FIND A JOB

N = 311 respondents (Graduates from Vietnam did not answer this question.)

HOW LONG DOES IT TAKE TO FIND A JOB?

While there is some variation across graduation years, it seems clear that we need to expect graduates to take several months before finding their first jobs. While 12 students had jobs immediately upon graduation, four took two years and one even reported three years.

# Months to Find a Job

7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 13 2009 30 2010 79 2011 129 2012 102 2013 353 Grand Total 5.90 4.64 5.55 4.20 5.15

4.87

TIME TO EMPLOYMENT

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LENGTH OF TIME TO FIND A JOB BY COUNTRY

On average, it takes around five months for Vittana graduates to find a job, but it varies by country.

# Months to Find a Job

8.00 7.00 6.00 5.29 5.00 4.00 3.00 2.17 2.00 1.00 0.00 2.29 2.73 6.79

24 Bolivia

7 Mongolia

85 Nicaragua

146 Paraguay

48 Philippines

TIME TO EMPLOYMENT

VITTANA IMPACT ASSESSMENT FINAL REPORT

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IS IT QUICKER TO FIND A JOB IN YOUR FIELD OF STUDY?

# Months to Find a Job
8 7 6 5 4 3 2 1 0 2.62 1.64 0.50 2.48 5.38 4.74 3.88 3.00 6.91

The majority of Vittana graduates in this study found jobs related to their majors. It appears that the students who take jobs in their field may wait for the right job and therefore take a little more time.
N =26

6.36 5.02 4.24

13 In Field Boliva

11 Out of FieldBolivia

127 In FieldParaguay

19

40

5 In FieldMongolia

63

21

282

76

Out of Field- In Field- Out of FieldParaguay Philippines Philippines

Out of Field- In Field- Out of Field- Total In Field Total Out of Mongolia Nicaragua Nicaragua Field VITTANA IMPACT ASSESSMENT FINAL REPORT 22

TIME TO EMPLOYMENT

HIRING TIME FOR TYPE OF DEGREE

One of our hypotheses has been that vocational training leads to quicker employment. These data dont support that but the technical graduate data are too sparse to draw conclusions.

# Months to Find a Job

10 9 8 7 6 5 4 3 2 1 0 80 Univ-Nicaragua 1.00 2.69 3.88 6.88 5.21 5.12 5.19 8.86

N = 98

N = 13

2 Tech-Nicaragua

136 Univ-Paraguay

7 Tech-Paraguay

36 Univ-Philippines

12 Tech-Philippines

259 Univ-Total*

22 Tech-Total*

TIME TO EMPLOYMENT

*Totals include data from countries with too few data points to report individually

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SAMPLE POPULATION

RESPONDENTS
Bolivia Mongolia Total Respondents 2009 Graduates 2010 Graduates 2011 Graduates 2012 Graduates 2013 Graduates Univ. Graduates Tech. Graduates 6 25 31 3 1 3 6 1 31 7 Nicaragua 109 16 10 30 39 14 109 4 Paraguay 148 2 17 33 54 42 138 7 6 33 76 95 20 Philippines 115 Vietnam 65 1 9 20 23 12 53 12 TOTAL 475 19 19 56 95 102 425 44

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RESPONDENTS
Bolivia 31 7% Vietnam 65 14% Nicaragua 109 23% Mongolia 7 1%

Philippines 115 24%

Paraguay 148 31%

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RESPONDENTS
What was your loan used for?
250 50% 45% 200

tuition, 44%

graduation_fees, 40%

40% 35%

No. Respondents

150

30% 25%

100

20% 15%

50

10%

computer, 6%
0

books/materials, 4%

5%

housing, 1% 0%

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RESPONDENTS
Who Makes Loan Payments
300

Average Loan Size: $651 Average Loan Term: 19 months

90%

81%
80% 250 70% 200 60% 50% 150 40% 100 30% 20% 50 10% 0%

22%

3%
0

2% Other family make loan payments

Student makes loan payments

Parents make loan payments

Sibling make loan payments

Note: There were no respondents from the Philippines or Vietnam to this question.

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