The "Graduate Premium"

A study, by researchers from Cambridge and Harvard universities and the Institute for Fiscal Studies has looked at earnings from tax records, student loan repayments and labour force survey returns for 260,000 people across a ten-year period from 1998 to find out the "graduate premium". They concluded that graduates earned £10k-14k more in their early careers than people of a similar age who did not go to university. Male graduates earned on average £29,500 a year after working for 14 years compared with £17,000 for men who did not go to university. For women, average salaries were £21,600 for graduates and £11,000 for non-graduates. The study looked at all non-graduate salaries, which included large numbers of adults on very low pay.  [source GTAssociates]

Universities ranked by graduate employment prospects

The Sunday Times newspaper has looked at the employment prospects for various courses and universities. Bear in mind that a 100% employment rate is unlikely as, in 2015, there were around 200,000 graduate level jobs, but 375,000 new graduates as well as job hunters from previous years. That being said, the paper produced various charts using the criteria of the percentage of students in further study or a ‘graduate level’ job.

	COURSE (best)	%
1	Medicine	99.30%
2	Dentistry	98.90%
3	Nursing	96.30%
4	Radiography	95.20%
5	Veterinary Medicine	95.10%
6	Physiotherapy	92.40%
7	Pharmacology & Pharmacy	91.30%
8	Land & Property Management	82.60%
9	Building	92.20%
10	Civil Engineering	91.90%
	COURSE (worst)	%
1	Animal Science	38.90%
2	Creative Writing	45.40%
3	Sociology	48.30%
4	Hospitality & Leisure	48.70%
5	Social Policy	51.10%
6	Drama, Dance & Cinematics	51.50%
7	Communication & Media Studies	52.30%
8	East & South Asian Studies	53.90%
9	Psychology	54.90%
10	Anthropology	55.00%

	INSTITUTION (best)	%
1	St George’s, Uni. of London	93.40%
2	Imperial College	91.10%
3	Cambridge	89.30%
4	Oxford	87.10%
5	Birmingham	86.70%
6	Kings College	85.70%
7	Bath	85.20%
8	Durham	84.40%
9	Sussex	84.10%
10	Loughborough	83.70%
	INSTITUTION (worst)	%
1	University of East London	45.60%
2	London Met	47.70%
3	University for the Creative Arts	52.00%
4	Liverpool Hope University	53.90%
5	Southampton Solent	54.60%
5	Newman University	54.60%
7	Westminster	55.10%
7	Bath Spa	55.10%
9	Gloucestershire	55.70%
10=	Goldsmiths	56.00%
10=	Uni. of Highlands & Islands	56.00%

More Builders needed

A survey by the Federation of Master Builders (FMB) has found that 66% of its members have had to turn down work because they do not have enough skilled tradesmen, while almost half have been forced to outsource work. David Ritchie, chief executive of Bovis Homes, said the skills deficit was pushing up the price of hiring tradesmen, while Jeff Fairburn of Persimmon said rapid growth in the industry had caused a “squeeze in terms of resources”.

Employers say that young people are being put off construction work because they believe the industry is low paid, however, according to the FMB, a 23-year-old bricklayer with five years experience can earn £31k, whilst in London,  a similarly qualified brickie could be paid up to £52,000, making the trade an attractive option for many.

The cost of going to Uni

Students' annual living costs (outside London)

Rent £4,989

Food £1,954

Household goods £363

Insurance £42

Personal Items £1,917

Travel £1,705

Leisure£1,190

Total: £12,160

[ Source: National Union of Students ]

Universities in England are allowed to charge up to £9k a year in tuition fees, with repayments to begin once students graduate and earn more than £21,000 a year. To cover living costs, students can borrow up to £5,555 outside London and £7,751 for students in London. In Scotland there are no fees for Scottish students, whilst in Wales the annual fee cap for Welsh students is £3,810. In Northern Ireland, fees for home students are capped at £3,805.

Most Students are also in paid jobs

A survey by the National Union of Students of 4,642 university students has found that 77% are in paid employment, up from 59% last year. The average student earned £412 a month, with women earning 36% less than men. Most said they worked part-time, but 14% said they held down full-time jobs during term-time, holidays or both; 56% said they worked because they had under-estimated the expense of university, especially the cost of accommodation, whilst 87% said developing additional skills and enhancing their CV were important reasons for working whilst studying. The survey also found that 53% said they depended on their parents to help them through university, and 74% said they relied on a student loan as a main source of income, up from 67% last year and 60% in 2013.

The Graduate Gender Gap

Female graduates are more likely to find jobs after leaving university but men who find work earn higher starting salaries. Official figures show that 75% of women who graduated last summer had found work within six months of leaving university, compared to 71% of men; 8% of male graduates said they were unemployed, compared to 6% of women. However, men on average had a starting salary of £21,000, compared with £20,000 for women  In addition, 10% of men had a starting salary of £30k-£40k compared to 5% of women. The figures were based on responses from 424,000 students, and matches other research on the persistent pay gap between men and women.  [ Source: GTAssociates ]

Thinking about a "Plan B"?

If your GCSE or AS results were not what you expected and you need to re-think your options, DON'T PANIC, help is at hand! There are lots of things you can do.  Start by reading this ...

• Talk to someone at school.  Senior Staff will be available in school on Results Day and you can book an appointment to speak to someone to get advice about what you can do next.
• Talk to a Youth Connexions Personal Adviser. Our Beaumont PA, Claire Blanchard will be in school from the start of term and you can also contact her through the St Albans Youth Connexions website.
• On GCSE Results Day, Thursday 20th August, Simon Stothard from Youth Connexions will be available to talk to in school. He can work with you on a late application to College or help you with other pathways such as entering employment or an Apprenticeship. 
• Visit the Youth Connexions "one stop shop" in Catherine Street. You can find out the details here. It will be open on Results Day.
• Think about an Apprenticeship.  You can find all the information you need at Apprenticeships.org. You simply fill in your details  -  like a mini CV  -  and then you can search the opportunities available and applying is easy as your information is stored.
• Think about applying to Oaklands College. They have Open Days this month for late applications. You can find the details here as well as on the Oaklands website. 

Check out ChannelMogo for general information and advice.
Use the 'search' tool on this blog to explore further options.

Keep calm and talk to someone to get the impartial advice and guidance you need ... Good luck!