Highlights:
- 46% of postgraduates did not think that their university education was worth the money
- Over 30% of surveyed postgraduates did not need a degree to do their current job
- 63.05% of female postgraduate respondents stated that they are not using their specific degree in their career, compared to around 50% for male respondents
- 61% of postgraduates in London strongly agreed that they needed their specific degree to undertake their current job responsibilities.
With unemployment in recent graduates increasing from 7% to 12% in 2020 (ONS, 2020), postgraduates across the country are now questioning whether their higher education was worth the money. The survey of 500 postgraduates reveals that nearly half (46%) of respondents did not view their university education as 鈥榳orth it鈥�.
Job market impacts from Covid-19 are being most felt by recent graduates, with a report from the Office For Students (2021) stating that 24.3% of postgraduates from the 2018-19 cohort did not go on to 鈥榩rofessional employment鈥� or further studies within 15 months of graduating.
However, despite increases in graduate unemployment, historical data on graduate earnings from the Department for Education suggests that once the short-term impacts from coronavirus are over, recent graduates will start to see more value:
Working-age graduates aged 16-64 earned a median salary of 拢34,000 in 2018. Their non-graduate peers chose a different path earning a median salary of 拢24,000.
More from News
- Meta Promised Unmatched Privacy For Muse 鈥� So How Did Researchers Crack It So Quickly?
- Digital Avatars Are Bringing Deceased Artists Back To The Stage 鈥� Where Do We Draw The Line?
- Can Europe Solve Its Critical Minerals Problem Fast Enough To Support Its Tech Ambitions?
- Google Has Agreed To A 拢260 Million Settlement: Who’s Eligible For Compensation?
- China Wants To Build A Third Global AI Bloc 鈥� What Does That Mean For Everyone?
- Advanced AI Society Joins the Linux Foundation And Launches Open Verification Ecosystem
- What Could Snap鈥檚 Partnerships With Big Tech Mean For The AR Industry?
- Why Did A Four-Year Bomb Threat Campaign Involving 500,000 Gmail Accounts Go Unchecked?
Commentary from Aaron Wallis Sales Recruitment suggests that your subject of study and the university you attend also makes a difference as to how you value your education – with STEM subjects and the elite universities seeing the highest proportion of graduates in employment or further study immediately after graduating.
For the full results of the survey, please visit: https://www.aaronwallis.co.uk/
Rob Scott, Managing Director at Aaron Wallis Sales Recruitment said:
鈥淚t is difficult to compare the cohorts of current postgraduates who leave University averaging over 拢40K p.a. of debt with the 鈥楤aby Boomers鈥� and 鈥楪en X鈥�, who generally didn鈥檛 pay for their tertiary education.聽 However, this data shows that beyond your mid-20s, a degree opens the door to higher-paying opportunities and therefore increases the likelihood of you feeling that higher education was 鈥榳orth it鈥�.鈥�
