Education as investment, consumption or adapting to social norm: implications for educational mismatch among graduates

Relying on data for Belgian graduates, we investigate the relationship between motives to participate in higher education (investment, educational consumption, student life consumption and social norms) and overeducation after graduation. We also examine whether these motives affect the relationship between overeducation and other outcomes like wages and job satisfaction. Key findings are that individuals motivated by educational consumption are less likely to be overeducated but face a stronger job satisfaction penalty to overeducation. Moreover, those motivated by student life consumption have a higher likelihood of overeducation.