Perceived Returns as a Determinant of Private Demand for Postgraduate Studies in Selected Universities in Kenya

Despite witnessing a consistent rise in private demand for postgraduate studies at universities in Kenya, recent trends show a decline in postgraduate enrolment. This downturn poses potential obstacles in achieving both the university objectives and Kenya's Vision 2030. Reviewed literature reveals that the decision to pursue postgraduate studies is often determined by a variety of factors, one of which is the perceived returns associated with obtaining an advanced degree. Given this framework, the primary objective of this study was to assess the extent to which perceived returns, as a determinant of private demand for postgraduate studies, affects private demand for postgraduate studies at the selected universities in Kenya. By adopting an explanatory sequential mixed methods design, the study combined quantitative and qualitative approaches to comprehensively examine effects of perceived returns on private demand for postgraduate studies in selected universities in Kenya. The target population comprised all the 60,515 students enrolled in Master's and PhD programmes across both public and private chartered universities in Kenya during the research period. The study employed a systematic random sampling method to select 395 Master's and PhD students from a purposefully selected pool of four public chartered universities and three private chartered universities. Data collection involved the use of questionnaires and interviews. Quantitative data underwent analysis using descriptive and inferential statistics, while qualitative data was subjected to thematic and content analysis techniques. The study established that perceived returns (with a regression coefficient of B = .57 and probability level of p = .004 < .05 (at a significant level of p < .05), emerged as a significant predictor of private demand for postgraduate studies. The findings shed light on how perceived returns affects private demand for postgraduate studies and offer insights for policy makers and university institutions to align university programmes with the evolving needs and expectations of both the prospective postgraduate students and the labour market. The study recommends that universities collaborate with employers from both the private sector and the public sector as well as other areas in the labour market to enhance accurate information, training and employment opportunities for postgraduate students. Keywords: Perceived returns, Private demand, Postgraduate studies DOI: 10.7176/JEP/14-30-04 Publication date: October 31 st 2023