With the challenge that young people have finding suitable jobs after gaining a degree I occasionally wonder if it is worth it. And then there is the cost! Some key findings from an “Education Counts” report on what young graduates earn when they leave study are detailed below.
Earnings increase with the level of qualification completed. The biggest jump in earnings is between those with qualifications below degree level and those with degrees.
Earnings remain consistently higher for those with higher qualifications. Those with higher qualifications consistently earn more for the first seven years post study, with no sign of these benefits decreasing.
The effect of the recession on the earnings of young graduates is still apparent. Although the country as a whole has pulled out of recession, the effects on young people have lingered with graduate earnings continuing to drop in real terms compared to those reported in our first study, Moving on up, for most years after study and at almost all qualification levels. However, there are indications that the rate of decrease in earnings may have been slowing down for recent graduates by the end of the 2012 tax year.
You can find the full report here