Importance The article presents some findings on the efficiency of investment in youth human capital of modern Russia. The subject is relevant since all parties of the investment process under study, from an individual and a family to the State, happen to unreasonably invest money in youth human capital. Objectives The research aims at evaluating the real economic efficiency of investment in youth human capital of modern Russia. Methods Using questionnaires and in-depth interviews, we approximately estimate a payback period of households' investment in higher professional training of young people in the Volgograd oblast as a typical region of modern Russia in terms of some socio-economic and demographic indicators. Results We get approximate estimates of the payback period of investment in higher professional training for various categories of the youth in the Volgograd oblast under different economic circumstances. Conclusions and Relevance The period of at least ten years is required for households in the Volgograd oblast to get any return on their investment in higher professional training of the youth. As for certain categories, the respective investment has a longer payback period or generates zero return at all. Basically, individual or household investment in professional training of the youth in one of typical Russian regions represents expenditures of uncertain economic efficiency and unclear economic goals for both investors and investees. The research brings scientific novelty as there were no comprehensive researches into various aspects of the issue in the Volgograd oblast. Furthermore, a cross-disciplinary approach and methods of related sciences are infrequent for such a research.
Keywords: human capital, youth, education, investment, efficiency
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