Want to know the truth about graduate employment? We’ve collected together some key facts about graduate employment in the UK to help you understand the graduate job market.
Labour market statistics
The following key facts are reproduced from The Office for National Statistics Report on Graduates in the UK Labour Market 2013 (published, 19 November 2013)
- In 2013 there were 12 million graduates in the UK.
- There has been a steady increase in the number of graduates in the UK over the past decade.
- In April to June 2013 graduates were more likely to be employed than those who left education with qualifications of a lower standard.
- Non-graduates aged 21 to 30 have consistently higher unemployment rates than all other groups.
- Over 40% of graduates worked in the public administration, education and health industry.
- Graduates were more likely to work in high skilled posts than non-graduates.
- In 2013 those graduates that had an undergraduate degree in medicine or dentistry were the most likely to be employed and had the highest average gross annual pay.
Financial benefits of a degree
There is lots of research available online that demonstrates the financial benefits of a degree. Recent research from the UK Department for Business Innovation & Skills has estimated that over a lifetime, and taking into account all graduates, male graduates earn approximately £168,000 and female graduates approximately £252,000 more than those without a degree.
How much you will earn as a graduate will depend on your career choices. When researching options for higher education courses, you can find out common jobs and associated starting salaries for your course at Unistats.