Abstract:

The relationship between education level and income has been increased, especially in the number of studies carried out after the 1990s. This has been a major role in the theories trying to explain the impact of human capital on economic growth. In this context, the impact of education on income, which is seen as human capital investment, is the subject of research. According to these studies, if an individual acts in accordance with the rationality assumption that is considered as the basic assumption of the economics science, it is necessary to take into account the cost of investment in human capital and the return of human capital. The study deals with the subject of education within the framework of human capital investment and examines the impact of education on income in the example of Turkey. For this, a series of tables are analyzed and the income levels between academic career and some other professions that require continuous education are analyzed. In Turkey between 1991 and 2006, the real salary levels of academics and judges are compared to the lifetime income of the two groups, taking into account. The conclusion of the study is that according to the public wage policy implemented in Turkey, choosing academicity is not a rational choice.