Israel ranked the fourth most educated country in the world in a new study by the Organization for Co-operation and Development (OECD). The annual report on education in richer nations shows that 46 percent of Israeli adults had attained tertiary qualification in 2012.

The Russian Federation ranked the highest on the survey with 53.5%, Canada was second with 52.6% and Japan ranked third with 46.6%.

Interestingly, the report found that the most educated populations tended to be in countries where tertiary education spending was among the highest. The OECD average is $13,957 per student. Israel spends just $11,553 per student (18th), while the US spends $26,021, by far the most in the world.

“Most 18-year old Israelis are subject to at least two years of mandatory military service. Perhaps as a result, country residents tend to complete higher education degrees later in life than in other countries. The compulsory conscription, however, has not lowered educational attainment rates,” the report reads.

According to the report, Israel’s class size of up to 41 pupils per classroom is double the OECD average of 21. And new secondary teacher hires were paid less than $19,000 in 2013, versus an OECD average of more than $32,000.