IS EDUCATION THE GATEWAY TO HIGHER WAGES?

The aim of this article is to analyze wages received depending on the level of education. We have data on wages from the Czech economy for the years 2000-2014. This is the data for the entire Czech Republic broken down by educational levels. The data are divided into six categories according to these levels: elementary, secondary vocational, secondary, bachelor, master's and PhD. For each category we have basic statistical characteristics: mean, median, quartiles (25% and 75% quantile), the first and last decile (10% and 90% quantile), and rate variability (standard deviation and coefficient of variation). We also have working hours - data are tracked for the second quarter of the calendar year because just in this quarter, the working hours are most stable in the long term which guarantees the data can be compared. Because the data are in the form of time series, we will be interested not only in the comparison of different characteristics but also in their development in time. We will also be interested in the redistribution rate in each group. To compare it we will calculate the Gini Index. Results show positive impact of education level on average wage and we did not confirm the research question about "increasing education equality grows in line with average wages" in this article.