Is it worth doing a degree?

Is it worth spending £30, 000 or more and three years of your life doing a degree?

If we limit our analysis to purely financial considerations and if we focus on ‘median earnings’ – then yes, on average, it is definitely still worth doing a degree: graduates currently earn about £8K a year more on average than non graduates (graduate labour market statistics 2015)

graduate-earnings

However, the gap between the earnings of graduates and non-gradates is closing – in 2005 graduates earned about 55% more than non graduates, while in 2015 they only earned 45% more.

graduate-earnings-2015

If this trend continues, then a degree will be worthless by 2045, at least if we measure the value of a degree purely in economic terms.

Of course there’s a whole load of other factors you need to consider to answer the above question fully! But I wanted to keep this post focused on just one dimension.

Further reading

Advertisements
This entry was posted in Careers and alternative careers, Education, Resarch Methods, Statistics and tagged , , . Bookmark the permalink.

One Response to Is it worth doing a degree?

  1. Pingback: Careers Advice for Teenagers (Part 1) | ReviseSociology

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s