Around one-quarter of Australian graduates say they are overqualified for their jobs, with many unable to fully apply their skills after three years in the workforce.
Results from a survey of more than 48,000 graduates from over 125 Australian higher education institutions, including every university, suggest that degrees deliver strong salary and employability dividends – but not necessarily job fulfilment.
The annual longitudinal study of graduate outcomes found that the respondents’ full-time employment rates had risen from between 80 and 90 per cent in 2022, around three months after they had completed their studies, to between 92 and 95 per cent last year.
The salary premium from higher study also improved, with bachelor’s graduates attracting a median salary of A$91,000 (£48,300) after three years, compared to A$69,000 just after they had obtained their degrees.
Taught master’s graduates commanded a median salary of A$116,000 after three years, up from A$91,300 a few months after completing their courses, while median pay for higher research degree graduates rose from A$97,000 after three months to A$120,000 after three years.
