John Burn-Murdoch
And (spitballing here) it strikes me that ‘signalling vs training’ leaves out whether the training (or the signal) can actually be leveraged by an employer. Even if it’s all training, in an economy where the amount of complex knowledge work has not kept pace with the number of grads, you will have plenty of cases where a grad has accumulated real skills and knowledge at uni, but the jobs available to them can’t take advantage of those skills, so the employers in those jobs won’t pay them a premium.