Find out which university degrees could earn you most across your lifetime
Young people are being urged to choose their university degree subjects carefully, after new research reveals how it can impact your career earnings. On average
Young people are being urged to choose their university degree subjects carefully, after new research reveals how it can impact your career earnings. On average, graduates picking medicine can earn up to £400,000 more over their lifetime compared to non-graduates, research by the Institute for Fiscal Studies (IFS) suggests. Economics could also earn graduates significantly more but other subjects, including creative arts, philosophy and languages, offer little to negative financial return when compared to the earnings of someone similar without a degree, the research suggests.
The Department for Education (DfE) says it will cap numbers on courses with poorest returns, and will consult on the introduction of minimum English language requirements. The data suggests the average graduate earns around £100,000 more over their lifetime than non-graduate counterparts, even after taxes and student loan repayments. While there are significant financial benefits to undergraduate degrees on average, the data suggests a quarter of graduates can expect to be financially worse off over their lifetime as a result of going to university.
One in ten male graduates will potentially be more than £90,000 worse off than they otherwise would have been. For students who continued in education post-16, but had relatively low GCSE grades, the data reflects that they can expect their lifetime take-home pay to
be £53,000 higher on average than peers with similar grades who did not attend university. However, among graduate men with low prior attainment, around four in 10 can expect to be worse-off financially over their lifetimes than if they had not gone to university.
The BriefWire