Technorati tags: graduate salaries,degrees,universities
Last time, I looked at basic salary figures. So how do UK graduate salaries stack up overall against non-graduate wages?
The OECD this year calculated the returns of an average graduate from tertiary education in the UK to be 62% over the salary they would have earnt without their degree - so for those with upper secondary qualifications - with only the US and Hungary (we overtook Finland this year) higher. It's even bigger if you're a woman. Here it is, from 'Education At A Glance' - you want table A9.1a, and here are the instructions for those data tables.
Using different stats, the DfES calculated this graduate premium at around 43% in early 2005. This is a slight drop on earlier figures, and the Class of '99 research also suggests that the premium is coming down, but slowly.
So next time a newspaper article tells us it's not worth getting a degree, bear this in mind.
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