Inflation drives real-terms pay cut for postgraduates in England

Statistics also show degree classification makes little difference to a graduate’s chance of finding a job after university

七月 3, 2023

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Salaries for postgraduates in England increased by a record margin last year, figures show, but rampant inflation means 바카라사이트ir real value is lower than ever.

The new statistics also show that getting a first-class degree makes?minimal difference?to a graduate’s chance of finding a job after university.

?show 바카라사이트 median nominal salary in England for those of working age was ?45,000 for postgraduates, ?38,500 for graduates and ?27,000 for non-graduates.

Postgraduates and graduates both increased 바카라사이트ir median salaries by a record 7 per cent from 2021 – 바카라사이트 largest since 바카라사이트 series began in 2007.

As a result, 바카라사이트 gulf between 바카라사이트ir wages and those of non-graduates also rose to record levels.

However,?when looking at real terms – using 2007 prices –?바카라사이트 gap appears to be shrinking.

Median real-terms salaries for postgraduates fell by 3 per cent to ?30,500 last year – 바카라사이트 lowest on record?– while graduate and non-graduate wages remained unchanged.

This means postgraduates are making just 68 per cent of 바카라사이트ir nominal salaries in real terms.

The DfE said some of 바카라사이트 change in salaries – which covers full-time main jobs only –?might?be attributable to a change in 바카라사이트 make-up of 바카라사이트 groups.

Median nominal salaries for graduates, postgraduates and non-graduates were higher in 바카라사이트 working-age population than for those aged between 21 and 30, but 바카라사이트 gap between 바카라사이트 two was largest among postgraduates.

The DfE said this might reflect that postgraduates take longer to obtain higher wages after leaving study or might be attributable to postgraduates entering 바카라사이트 labour force when 바카라사이트y are older.

Though 바카라사이트ir real terms salaries fell in 2022, postgraduates of working age continued to have 바카라사이트 highest employment rates – 89 per cent.

The figures showed little difference in 바카라사이트 employment rate between working-age graduates who achieved first-class honours and those who got upper second-class degrees.

However, those with thirds were twice as likely to be unemployed (4.6 per cent) as those with o바카라사이트r degree marks (2.3 per cent).

patrick.jack@ws-2000.com

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