Students who study maths, economics or medicine at university in the UK are increasing their chances of earning a decent salary, a report by the Institute for Fiscal Studies has found.
Five years after graduating from university, medicine and economics graduates earn over £40,000 a year on average; whereas creative arts graduates earn around £20,000.
However, it’s important to choose the right university. For example, a good business studies degree will earn good money, but a poorly rated business degree is less likely to lead to a high paying job.
A good grade in maths GCSE = better pay
Seven years after graduating from university, all students with GCSE maths grades A*-C have seen their salary go up by more than £5,000.
But students with an A* in GCSE maths are earning around £7,000 more than those with an A in GCSE maths, and over £15,000 more than students with a C in GCSE maths – again, seven years after graduating from university.
| For women, the six highest earning subjects are:
Medicine Economics Maths Physics Pharmacology Engineering |
And for men, the six highest earning subjects are:
Medicine Economics Maths Veterinary science Physics Engineering |
Read more about this:
BBC: Background, subject, university ‘all impact earnings’
The Guardian: Economics and medicine graduates earn most, finds report
Institute for Fiscal Studies report:
The relative labour market returns to different degrees (published June 2018)
What is the Institute for Fiscal Studies?
The Institute for Fiscal Studies is an economic research institute based in London in the UK. Its aim is to understand how government policies affect individuals, families, business and the government’s finances.
