The paper investigates the wage determination of Hungarian highereducation graduates with using two samples of Hungarian careerbeginners, applying IV techniques and the multiple indicator solution so as to diminish potential estimation biases due to endogeneity of independent variables (especially the education variable) and the simultaneity of wages and working time. The results show that university education yields considerable wage premium as compared to college education, and that the return to education would be significantly underestimated by ols. The estimates confirm that foreign-language and IT knowledge also produce advantages in terms of wages. GALASI PÉTER PÁLYAKEZDŐ DIPLOMÁSOK KERESETEI ÖsszefoglalóA tanulmányban a magyar pályakezdő diplomások bérét meghatározó tényezőket vizsgáljuk fiatal diplomás munkavállalók két mintáján. A béregyenletek becslésekor IV technikákat használunk a független változók esetleges endogenitásának csökkentése, illetve a bér és a munkaidő szimultaneitása miatti potenciális becslési torzítás mérséklése céljából. Az eredmények azt mutatják, hogy az egyetemi végzettség a főiskolai végzettséggel összevetve jelentős bérnyereséget eredményez, és hogy e bérelőnyt ols becsléssel lényegesen alulbecsülnénk. További eredmény, hogy az idegennyelv-ismeret, valamint az információs technológiák ismerete ugyancsak érzékelhető többlet bérben jelenik meg.

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Considerable amounts of time and money are spent on job-training of school-leavers graduated from higher-education institutions. More than a half of the employees in our sample participated in job-training between graduation date (1999) and September 2000. The work in this paper considers two aspects of the problem. First, the relationship between training probability/training length and the initial human capital (proxied by level of education and in-school labour market experience) is concerned with, and, second, some elements of the training-costsharing decision is analysed. There are some signs that university education reduces the probability of training as compared to college education, whereas in-school labour market experience increases it. University education reduces training length, as well. In-school labour market experience has no effect on the length of job-training. Another important result is that school-leavers holding diplomas with "narrower" types of education are more likely to obtain training, and also to have longer training programmes. This implies a more severe matching problem in the case of "narrower" types of education, possibly due to prohibitive searching costs for finding a good-quality match. Results for the cost-sharing decision are in line with Becker's idea, since the firm is less likely to entirely cover the costs of general training and more likely to finance job-specific training programmes.

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