Graduates earn more by over 20% in the UK
Graduates in all regions of United Kingdom (UK) earn 20 percent more than their non-graduate peers, data from UK’s Department for Education (DfE) showed.
In its report published on 18 July, DfE said that graduates earn a median annual salary of £19,900 one year after graduating, £23,300 after three years, £26,000 after five, and £30,500 after ten years.
Graduates earn more by up to 22.2%
On average, by their mid-20s, graduates earn more than 20 percent than their peers living in the same region who achieved five A*-Cs at General Certificate of Secondary Education but did not go on to complete a degree-level qualification.
Meanwhile, those who have finished in the South West earned over 22.2 percent versus non-graduates, followed by West Midlands with a 21.1-percent difference.
“I am delighted to see graduates across the country are reaping the rewards of going to university through sustained employment and higher salaries, which in turn benefits their local economies,” Universities Minister Chris Skidmore said.
“Discussions about graduate outcomes and earnings should not simply focus on the major cities, so I hope this data will play a key role in highlighting the benefits and the potential that higher education can bring to graduates and regions in the whole country,” he added.
To encourage students to pursue higher education
Skidmore, however, said that going into university should not just talk about earnings potential after college but also produces wider cultural and social benefits.
“We know that higher education can play an important part in driving social mobility, so this will help our understanding of how university can benefit graduates in a way that is relevant to the region,” he added.
The report was the department’s drive to improve transparency around higher education and ensure that information about earnings, employability, and teaching quality, among others, would entice students to pursue higher education in the United Kingdom.
Photo: Poodar Chu
Hari is the Managing Editor of Global Education Times. Hari has clocked nearly a decade working as a communications professional with a focus on the education sector. He has also had stints in journalism and advertising in a career which has seen him live, study, and work, in three countries.
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