Using net annual wage premia derived from Mincerian wage equations, Ahcan et al. ( When gross hourly wages are used as the dependent variable, gross wage premia were 86% in 2008 for tertiary education graduates over upper secondary graduates, with no statistically significant differences across genders (see Annex A2). Nevertheless, given the excessively long study durations (6.9 years on average), internal rates of return to tertiary education are as low as 9.4%. When combined with the generous public subsidies they receive, students in Slovenia have had significant financial incentives to go into higher education.