Graduates Earn £9,000 More than Non-Graduates
The latest published Graduate Labour Market Statistics has found that graduates faced significantly better employment prospects than non-graduates during the third quarter of 2014 . So, Graduates earn more – but how much more?
Graduates Earn more
It was also found that the median salary for graduates was £31,000, rising to £40,000 for postgraduates – £9,000 more than those without a degree. The survey defined graduates as those whose highest qualification is an undergraduate degree at bachelor’s level, with postgraduates including those with a Masters or PHD. A non-graduate is defined as someone whose highest qualification was below the undergraduate level.
The survey states that 87% of graduates and postgraduates are in employment, compared to 70% of non-graduates. The employment rate for all graduates during the first quarter was higher than it was before the recession in 2008. Of those in employment, 78% of postgraduates and 68% of graduates were found to be working in high skills employment between July and September, compared to just 22% of non-graduates.