Financial motivations driving romantic relationships
In a groundbreaking report published by the Creative Industries Policy and Evidence Centre and the University of Sussex, researcher Martha Bloom delves into the economic consequences and potential market failures in the Creative Industries. The report, titled "For love or money? Graduate motivations and the economic returns of creative higher education inside and outside the creative industries," was published in August 2020.
The report challenges the traditional perspective of assessing the value of creative education solely based on immediate salary metrics. Instead, it emphasizes that the economic value of creative higher education extends beyond monetary returns, encompassing intrinsic motivations, career adaptability, and non-monetary benefits.
One of the key findings of the report is that creative education fosters greater career adaptability, enabling graduates to navigate diverse career paths both within and outside the creative industries. Additionally, creative graduates demonstrate higher levels of civic and political engagement, contributing to broader societal and cultural value. Lastly, many graduates report that creative education provides valuable personal fulfillment and development that is not reflected in immediate salary outcomes.
While traditional ROI analyses often show that creative degrees yield lower direct financial returns compared to STEM or business degrees, the report underscores the importance of considering meaningful non-economic returns. These returns support long-term career satisfaction and societal contributions, often overlooked when focusing solely on salary or employment statistics.
However, some analyses remain skeptical about the economic practicality of creative degrees, suggesting alternative paths like portfolio building and networking outside of college for aspiring creatives.
The report also highlights the importance of creative higher education in supplying skilled employees to the creative industries, a high-growth sector of the economy. Disruptions to the creative talent pipeline could damage the sustainability of the UK's fast-growing creative industries and other sectors that rely on creative work.
The report was peer-reviewed prior to publication, and the responsibility for the views and interpretations expressed in the report lies with the authors. The report can be accessed at this link: https://www.our website/assets/publications/PEC%20research%20report%20-%20For%20Love%20or%20Money.pdf
In other news, post-Brexit, the way British firms trade and work with European countries has changed significantly. A survey of employers in the UK's Creative Industries was conducted to determine the migrant and skills needs of creative businesses.
In 2015, worldwide exports of creative goods exceeded 500 billion USD, with a 150% increase since 2000. The report does not specify the exact year it was published, but it is clear that creative higher education continues to play a crucial role in fueling the economy.
- The Creative Industries Policy and Evidence Centre, along with the University of Sussex, published a report in August 2020 titled "For love or money?" that analyzed the economic returns of creative higher education.
- The report, by researcher Martha Bloom, challenged the traditional view of evaluating creative education based solely on immediate salary metrics, instead emphasizing its extended economic value.
- The report found that creative education enhances career adaptability, enabling graduates to navigate diverse career paths within and outside the creative industries.
- Creative graduates also demonstrated higher levels of civic and political engagement, contributing to broader societal and cultural value.
- Personal fulfillment and development were reported as non-monetary benefits of creative education that are not reflected in immediate salary outcomes.
- Despite traditional ROI analyses showing lower direct financial returns for creative degrees, the report stressed the importance of considering meaningful non-economic returns.
- The report highlighted the role of creative higher education in supplying skilled employees to the creative industries, a high-growth sector of the economy.
- A post-Brexit survey revealed that British firms' trade and work with European countries have greatly changed, and a survey of employers in the UK's Creative Industries was conducted to assess the migrant and skills needs of creative businesses.
- The report did not specify the exact year of publication, but it is clear that creative higher education continues to play a crucial role in fueling the economy, as shown by the 150% increase in worldwide exports of creative goods since 2000.
