In this paper a general specification of the wage equation is used to
derive a marginal revenue equation for enterprise-related schooling. T
he optimal amount of investment in enterprise-related schooling is fou
nd by equating the marginal revenues and marginal costs. For the empir
ical analysis the wage equation, the marginal costs equation and the m
arginal revenue equation are estimated simultaneously. The empirical r
esults show that both the marginal cost and the marginal benefits of t
raining vary with a worker's level of ability. For a reference male wh
o participates in ERS, the wage increase is about 34% of the average w
age rate of participants.