Graduates go on to earn higher average salaries than those who received similar GCSE results but did not obtain a degree, according to the first release of recently remodelled post-university outcomes data.
Department for Education (DfE) statistics published on 25 June find the median earnings of those with a first degree five years after finishing their studies is £33,000.
Based on the 2023-24 tax year, that figure is up 2.3 per cent in real terms since 2022-23, and compares with an average salary of between £18,300 and £25,600 for women and £24,500 and £34,000 for men with no higher level qualification.
For the first time, the graduate labour market outcomes release, which now incorporates Longitudinal Education Outcomes (LEO) data and labour market statistics after changes made last year, compares individuals of the same sex who had similar attainment at GCSE level. It finds graduates have higher median earnings than those with no higher level qualification.
“These results are for ten years after GCSEs only, when individuals are typically in their mid-20s, so they do not reflect the impact of qualification levels on earnings growth throughout individuals’ working lives,” the analysis cautions.
