According to the recently published Graduate Labour Market Statistics report, graduates earn £400k more over their lifetimes than those who did not go to university. The average pay premium was calculated to be £9,000pa, whilst postgraduates earn on average another £9,000. The average graduate salary in the Autumn of this year was £31,000 and for postgraduates it was £40,000. For non-graduates, it was £22,000. However, pay for graduates slipped by £1,000 in the past year, although it rose by £1,500 for postgraduates.
Employment rates were also better for graduates, according to the figures taken from the Labour Force Survey. Among the working-age population, 87% of graduates and postgraduates were in employment, compared with 70% of non-graduates. Among people aged 21-30, unemployment is 4.7% for postgraduates, 5.7% for graduates and 9.8% for non-graduates. More than three quarters of all postgraduates and two-thirds of graduates were working in high-skill employment, compared with 22% of non-graduates. [ source: GTAssociates ]
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