Graduates’ salary premium

People of working age with a master’s or PhD earn on average £9,000 a year more than those with only a bachelor’s degree, according to data from the Department for Business, Innovation and Skills

January 15, 2015

Bachelor’s graduates are also £9,000 better off than those without a degree. The median salary for graduates aged 16-64 is £31,000 compared with £22,000 for non-graduates. Those who have completed postgraduate courses, meanwhile, have a median salary of £40,000, according to graduate labour market statistics for the third quarter of 2014.

But for young people aged 21-30 the premiums for a bachelor’s degree, master’s or PhD are not quite so high. Young graduates earn about £6,000 more than non-graduates, for example, and those with postgraduate qualifications in that age bracket earn £3,500 more than bachelor’s graduates, according to the data released in December.

holly.else@tesglobal.com

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