Thousands of students can more accurately see their
potential future earnings, as new data shows what graduates
from each university earn in different regions of the UK
today (23 January).
The new data, published
for the first time, can help young people make better
choices about whether to go to university, where they study
and their graduate opportunities.
The figures show what graduates from each institution
earned five years after finishing their studies – and is
adjusted for regional differences in earnings across the
country.
The Universities Minister has welcomed the data as a
‘milestone’ for future students to make their decisions
about university, particularly for those from disadvantaged
backgrounds.
Universities Minister said:
It’s great to see that all over the country, it pays to
have a degree from our world-leading universities, and
they are bringing benefits to all of the regions.
This data is a milestone for the thousands of future
students, helping them to work out whether university is
for them, and where to study and work. I hope this will
particularly help students from disadvantaged backgrounds
to see the benefits, who are often more likely to stay in
their home region.
Of course earnings potential is just one factor for
students, but we believe they should have all the facts
to make their decision. It is important for young people
to know that they will not only get a rich education at
university, but that their degree will be good value for
money.
The same data previously
showed that graduates in all regions of the
country earn on average around 20% more than their peers in
the same region who did not go to university.
It shows 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.
The publication is part of the Department’s drive to
improve transparency around higher education, ensuring that
information about likely earnings, employability and
teaching quality is easy to access for everyone going to
university.
In a letter to the Office
for Students in September, the Education Secretary
made clear that higher education delivering value for money
is a priority for the Government.
