Thousands of students can more accurately see their potential future earnings, as new data shows what graduates from each university earn in different regions of the UK today (23 January).
The new data, published for the first time, can help young people make better choices about whether to go to university, where they study and their graduate opportunities.
The figures show what graduates from each institution earned five years after finishing their studies – and is adjusted for regional differences in earnings across the country.
The Universities Minister has welcomed the data as a ‘milestone’ for future students to make their decisions about university, particularly for those from disadvantaged backgrounds.
Universities Minister Chris Skidmore said:
It’s great to see that all over the country, it pays to have a degree from our world-leading universities, and they are bringing benefits to all of the regions.
This data is a milestone for the thousands of future students, helping them to work out whether university is for them, and where to study and work. I hope this will particularly help students from disadvantaged backgrounds to see the benefits, who are often more likely to stay in their home region.
Of course earnings potential is just one factor for students, but we believe they should have all the facts to make their decision. It is important for young people to know that they will not only get a rich education at university, but that their degree will be good value for money.
The same data previously showed that graduates in all regions of the country earn on average around 20% more than their peers in the same region who did not go to university.
It shows that graduates earn a median annual salary of £19,900 one year after graduating, £23,300 after three years, £26,000 after five, and £30,500 after ten years.
The publication is part of the Department’s drive to improve transparency around higher education, ensuring that information about likely earnings, employability and teaching quality is easy to access for everyone going to university.
In a letter to the Office for Students in September, the Education Secretary Gavin Williamson made clear that higher education delivering value for money is a priority for the Government.