Join NexChange - the professional
network for the financial services
industry - and receive a free one-
year subscription to Forbes
Best Paying Degrees For Graduates – Economics
In its latest study, Emolument.com analysed 2,400 salaries from graduates (less than 2 years’ experience) with a bachelor degree from UK universities to find out which institutions and fields of studies guarantee the best income. Results show that a degree from a top university doubles the rate of pay.’
Full rankings (84 universities) available here.
Universities yielding the highest graduate pay
*Median salary & bonus
Universities yielding the lowest graduate pay
*Median Salary & bonus
- Twice as good? Highest paid graduates (LSE, at £38,000 per year) earn more than twice as much as lowest paid (Cardiff Metropolitan University – £18,000 per year).
- Are all degrees worth it? According to our data, those starting their career without a higher education degree can expect a salary of £19,000 at the beginning of their career, inches from the amount lower paid graduates will earn (graduates from the bottom 10 universities earn less than £20,000). From a solely financial point of view, a degree may not always be worth it.
What is the pay gap between disciplines?
*Median Salary & bonus
- Pick wisely… Regardless of the university, the subject students pick can mean a £14,000 pay difference at the beginning of their career: predictably, economy graduates earn £33,000, while fine arts & design grads only earn £19,000.
- Science & business pay more than arts: The 7 best paying majors are all in business, sciences or economics, and offer salaries of up to £33,000 to graduates. Even the best paying art major (modern languages at £26,000) only reaches 9th place out of 15 subjects.
Alice Leguay, Co-founder & COO at Emolument.com said: ‘With fees due to increase by over £9,000 this year, and students graduating with over £50,000 of debt on average, it is worth asking if the financial rewards a degree brings are worth the investment. Beyond a hoped-for increase in pay upon graduation, university offers opportunities for friendships, self-development through societies and sports, and a wealth of learning. However, if a degree cannot secure higher pay, it may be that university can no longer be seen as an investment but a boon only available to the well-off.’
This article was originally published in ValueWalk.
Photo: Adam Smith Business School