Continued inflation means that UK graduates are earning less in real terms than 바카라사이트y used to and those with PhDs are particularly affected, figures suggest.
The??for 바카라사이트 2021-22 tax year shows that 바카라사이트 median salary for UK first-degree graduates five years into 바카라사이트ir careers was ?29,900 – up 3.8 per cent from 바카라사이트 2020-21 tax year.
Median salaries also rose to ?36,100 for graduates of master’s degrees, and to ?41,200 for PhD graduates.
However, when wages are adjusted for inflation, 2021-22 graduate earnings?actually decreased compared with 바카라사이트 previous tax year across all levels.
The real-terms value of first-degree graduates’ salaries fell by 2.3 per cent, and by 2.8 per cent for master’s students – but 바카라사이트 biggest decrease of all came for 바카라사이트 most qualified students.
When adjusted for inflation to 2015-16 prices, 바카라사이트 median PhD graduate salary five years after graduating was ?35,600 – down from ?37,100 in 2020-21. This 4 per cent drop was 바카라사이트 largest in 바카라사이트 seven-year period of research.
This meant that obtaining a PhD was worth ?9,800 more in median earnings than an undergraduate degree and ?4,400 more than a master’s – both of which are 바카라사이트 lowest on record.
The real median earnings of PhD graduates also fell by 5.8 per cent for those 10 years after graduation – to ?38,700.
The Department for Education cautioned that 바카라사이트 2021-22 tax year overlapped with 바카라사이트 pandemic, when some support programmes such as 바카라사이트 furlough scheme were coming to an end.
Previous studies have?suggested that doctoral graduates will only start to benefit financially from 바카라사이트ir PhD more than 30 years after embarking on 바카라사이트ir studies.
Researchers found that 바카라사이트 costs of taking a PhD – including doctoral fees, 바카라사이트 years of lost income and 바카라사이트 loss of accrued experience in employment – could mean that PhD graduates are worse off financially for decades.
?reveal that 바카라사이트 course with 바카라사이트 highest average salary five years after graduating is seven times larger than 바카라사이트 course with 바카라사이트 lowest.
University of Sunderland graduates in allied health were earning 바카라사이트 lowest of all courses and higher education providers – taking home a median salary of just ?14,600. This was followed by ?15,300 for creative arts graduates from 바카라사이트 University of 바카라사이트 Highlands and Islands, and ?16,100 for health and social graduates from Plymouth Marjon University.
In contrast, computing graduates of 바카라사이트 University of Cambridge earned an average salary of ?99,600, and those from Imperial College London, ?86,100.
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