Graduates were paid £12,000 a year more, on average, than workers without degrees over the past decade, according to figures released by the Office for National Statistics (ONS) last week.
The ONS found that earnings were similar for graduates and non-graduates at the age of 22, but graduate salaries increased faster and peaked later in life. The median salary for a non-degree holder aged between 22 and 64 was £18,000, whereas for a graduate it was £30,000.
Over the last decade, a male graduate could expect to earn on average 20% more than a female graduate. This gap was slightly wider for non-degree holders, at 23%.
However, as the consumer rights organisation Which? pointed out in a news item on its website, the ONS figures did not take the rising costs of higher education into account. A BBC survey found last week suggested that many more students at English universities will be paying the maximum annual tuition fees of £9,000 than was originally expected, with almost half of the universities that responded planning to charge the maximum fee level.
Source: TARGETjobs, news editor, 12th April 2011
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