A report released by the Organisation for Economic Co-operation and Development (OECD) shows that Australian graduates are enjoying some of the world’s most attractive pay packages.


The Education at a Glance 2012 report shows that Australian university graduates are ranked sixth out of 34 countries in the level of wages earned after graduation.


Federal Minister for Tertiary Education, Senator Chris Evans, said the results backed the Government’s move to provide increased funding for students has paid dividends.


The OECD report also shows that graduates in Australia will earn 45 per cent more than someone that does not hold a post-school qualification,” Senator Evans said.


"This proves that having a higher education really does pay. This is a great result for students but it does not justify Tony Abbott's policy of increasing university student fees and burdening students with higher debt.


The report found that over the past decade, more than half of the GDP growth in OECD countries is related to income growth among tertiary-educated individuals.


"The higher education sector will play an increasingly important role in the growth and prosperity of the Australian economy," Senator Evans said.


"The most important thing a Government can do to boost productivity and economic growth is to ensure the economy has a high skilled and innovative workforce.


The full report can be found here