Revealed: The university degrees most likely to land you a high salary – and the ones that could leave you languishing on low pay YEARS after you graduate
- Top 20 degrees were analysed; third of graduates will earn below average salary
- Medicine and dentistry grads can expect to earn £47,300 five years after uni
- Creative arts and design degrees can expect £20,200 after the same period
Teenagers across the UK are enjoying a summer of freedom after sitting the exams required to secure them a place at university.
But how much can they really expect to earn after completing their chosen degree?
A study using Office of National Statistics data has ranked 20 of the most popular courses according to the level of salary graduates are likely to be on five years after leaving university.
Unsurprisingly, medicine and dentistry are at the top of the list when it comes to earning potential – with graduates earning some £47,300 per annum within five years.
But some unexpected entries lower down on the list include law – which could see graduates taking home a relatively modest £25,200 within five years, only marginally more than those who have teaching degrees.
A new survey has revealed the stark contrast between the earnings of graduates with varying degrees five years after graduating – so how much will your degree help you earn?
The study from by online mortgage service Propillo – which placed creative arts and design degrees at the bottom of its rankings with forecast earnings of £20,000 – also reveals the stark contrast in salary depending on graduates’ chosen subjects.
The average UK salary is £27,600 per year.
However, the findings suggest that a third of graduates leaving university with one of the 20 most in-demand degrees can expect to earn below that figure.
According to the study, the degree with the second-highest earning potential is economics, with a median salary of £37,900 five years after graduating.
In third and fourth place were veterinary sciences and maths, with graduates looking at an average salary of £34,900 and £33,100 respectively.
Graduates with medical degrees have the highest earning potential with a projected annual salary of £47,300 five years after leaving university – in contrast to £20,200 for creative arts and design graduates
What the top 20 degrees will earn you five years after graduating
1. Medicine and dentistry £47,300
2. Economics £37,900
3. Veterinary science £34,900
4. Mathematical sciences £33,100
5. Engineering and technology £32,600
6. Nursing £28,500
7. Computer science £27,800
8. Languages (including English studies) £27,400
9. Physical sciences £27,100
10. Business and administration studies £26,800
11. Historical & philosophical studies £25,400
12. Law £25,200
13. Biological, studies £24,500
14. Social sciences (excluding economics) £24,500
15. English studies £24,000
16. Education £23,700
17. Mass communication and documentation £22,800
18. Psychology £22,600
19. Agriculture and related £20,500
20. Creative arts and design £20,200
Towards the bottom of the table came psychology graduates in at number 18 with earnings of just £22,600, and at 19 agricultural students who pulled in just £20,500 five years after graduating.
The findings also aimed to show how your geographical area of birth could affect your earnings later in life.
The study was compiled using data from the Office for National Statistics (ONS), as well as the latest figures from the UK House Price Index (HPI) and graduate earnings one, three, five and 10 years after leaving university.
With the average UK salary of £27,600, this means a third of graduates with the top 20 most popular degrees will earn salaries below the UK average
The figures revealed that it’s bad news if you’re from the North East, as graduates born in this region will earn the lowest average salary of any graduates from across the country.
On average, those from the North East will earn £29,200 ten years after graduating.
In comparison, those from London will earn an additional £6,400 a year, bringing their total annual salary to £35,600, regardless of which university they attended. k
Average salary according to birth region (10 years after graduating)
North East: £29,200
North West: £29,600
Yorkshire and the Humber: £29,600
East Midlands: £30,100
West Midlands: £30,200
South West: £30,500
East of England: £33,700
South East: £34,500