A graduate degree is considered to be a real asset by universities and governments around the world. The introduction of higher tuition fees makes a university education more expensive than ever, but the benefits are enormous. Think of it as an investment in your future!
Follow a career path
Some professions require an undergraduate or postgraduate degree, such as Medicine, Pharmacy, Teaching or Chemical Engineering. In today’s market, more than a quarter of jobs ask for a degree and degrees are highly transferable; with a degree in most subjects you can apply for a wide range of different careers.
Better career prospects
Studying at degree level develops many transferable skills which are highly valued by employers. These include problem solving, independent thought, report writing, team working and communication.
Universities offer many opportunities for work experience; this could be an internship, a year in industry, part time work or voluntary work. A significant number of students who gain work experience during their degree go on to work for the same company after they graduate. Work experience adds skills and experiences to your cv.
Many universities offer the chance to study abroad. In an increasingly globalised workplace, this offers undergraduate students an opportunity to experience different cultures.
Higher earning potential
Graduates earn on average £12,000 per year more than non-graduates*, and in some professions this can be even greater.
Overall, graduates aged between 22 and 64 had median salaries of £29,900 compared with £17,800 for non-graduates*. Over a working lifetime, this can add up to an extra £160,000 for a graduate on average compared to a student with two A-levels ** (and up to an extra £340,000 for Medicine).
Furthermore, for female graduates, the earnings gap between female and male workers is less for graduates than for undergraduates.
*Office for National Statistics, 2011
** Research Report: The Economic Benefits of a Degree, PWC, 2007