University selectivity and the relative returns to higher education: Evidence from the UK

Dark grey is New universities; black hollow is Old universities; and light grey is the Russell Group of elite universities. The size of the bubble indicates institution size. Fitted line: slope = 0.107 (robust se = 0.013, R2= 0.394) shows the effect of institutional selectivity on wages - 1 SD change in selectivity raises wages by 11%. Omitted HEI is Manchester Metropolitan University.97