Keep a benchmark in mind: another year of schooling has a global average private return of about 9% in annual earnings
Globally, an additional year of schooling is associated with about 9% higher personal annual earnings on average, and women's returns have consistently exceeded men's. This concerns formal schooling, so you cannot simply apply it to a training course. If a course in China costs RMB 30,000 and six months, ask whether its likely earnings effect is comparable to that of another year in education.
What it takes
Nothing. Use the figure as a rough yardstick for proposed learning investments.
What you may gain
A review of 1,120 estimates from 139 countries covering 1950–2014 put the global average private return to an additional year of schooling at 9% a year. “Private” means the part accruing to the learner's own earnings: one more year of education was associated with about 9% higher income. Private returns to higher education were increasing. Social returns, which accrue to society rather than only the individual, remained high. Women's average returns to education were consistently higher than men's.
Context & considerations
This global average for an extra year of formal schooling is neither the expected return on a course nor a China-specific estimate. Its purpose is to supply a rough scale: a course costing RMB 30,000 and six months should invite scrutiny of whether it can deliver an earnings change comparable to a year of formal education. The global average also conceals large differences between subjects and countries.
Research & references
Psacharopoulos G, Patrinos HA (2018). Returns to investment in education: a decennial review of the global literature. Education Economics, 26(5), 445–458. https://doi.org/10.1080/09645292.2018.1484426; World Bank Policy Research Working Paper 8402. https://doi.org/10.1596/1813-9450-8402