The Australian Marketing Institute (AMI) has warned that proposed increases in university fees for communications and marketing degrees could be harmful to the industry.
Subject to the legislation passing Parliament, the cost association with a year of full-time study in Communications degrees will increase 113 per cent from $6,804 per year to $14,000 from 2021. The fees for Management & Commerce and Mixed Fields (marketing) courses will be up 28 per cent.
AMI data shows the proposed fee increases will impact students’ plans to study marketing at university.
“The reforms fail to acknowledge how critical marketing is to Australian industry. A key driver of revenue growth and competitiveness, the marketing industry contributes an estimated $9.4billion to the economy each year. If we deplete the stocks of talent, industry and Australia’s ability to recover from Covid-economy in the future will be negatively impacted. We need to continue to bring new talent into these highly valuable professions,” AMI chair Lynda Cavalera said.
“Budding marketers will be dissuaded from pursuing the field due to daunting repayment fees, instead choosing courses with lower cost associations. In turn, the talent pipeline of highly-skilled professionals entering marketing, commerce and communications-related fields is severely at risk. During a time of economic uncertainty which shows no signs of easing up in the near future, prospective students are surely going to be drawn towards cheaper courses.
“Not considering marketing-related degrees as ‘job relevant’ is an oversight and dismissive towards the myriad of skills these courses equip graduates with – all of which can be applied at a practical level in the workplace. While niche courses may follow a path to a specific job role, the roles cannot be guaranteed, and graduates are limiting their breadth of options.
“Larger university debts mean longer repayments, which begin at incomes of only $45,000 per annum. As well as affecting graduates when they are looking to save for a home deposit or to pay for childcare costs, this move will disproportionately impact women, who are the majority of marketing graduates.”
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