Value of gaining a degree plummets

“ One-third of graduates are receiving no financial benefit from their degree as young people drawn in by Labour’s mass expansion of universities see the value of studying decline for the first time. A study has identified a widening gulf between the highest-paid graduates, whose degrees have brought them soaring returns over the past decade, and those at the lower end. Among male graduates, 33.2% end up in nongraduate jobs five years after leaving university, from 21.7% in 1992. The proportions for women are similar. These graduates now earn 40% less than if they had found a job where a degree was necessary. In 2001, before the market was swamped by university-educated applicants, those who had to settle for lower-paid jobs were only 32% worse off. The worst affected were from the former polytechnics and other new universities which had been encouraged to expand under Labour …” (more)

[Jack Grimston, Sunday Times, 31 August]

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