What is a Degree or Masters worth?
Investing in higher education is one of the best ways to change your world. The rewards can be huge and varied. As well as opening up exciting career opportunities and expanding your knowledge, you can also expect increased confidence and access to new networks. Not only that but the return on your financial investment can be significant too.
Discover the financial benefit of a university qualification and you’ll be entered into a prize draw to win a GoPro camera.
typical lifetime earnings
typical lifetime earnings
Everyone has a different career journey which can be affected by an almost infinite range of choices and influences. Therefore the above offers you an indication of potential impact based on statistical data. Your result is calculated by using government research in combination with your selections.
1. Annual Survey of Hours and Earnings, 2014
2. Labour Market Statistics January to March 2015
1. Your age
2. Your industry
3. Your study level of interest
Firstly the calculator works out how many working years you have remaining assuming you retire at 70 (e.g. If you’re currently 25 years old and retire at 70 it estimates you have 45 years of your career remaining)
The calculator then finds your average yearly industry earnings by matching up your industry selection to earnings data within the annual survey of hours and earnings report.
Next your yearly industry earnings is multiplied by your working years remaining to calculate lifetime average earnings per industry (e.g. 45 years remaining x £40,000 average per year = £1,800,000)
Finally it calculates your lifetime earnings with a degree or Masters by using the Labour market statistics report which shows degree graduates earn £9k more a year than non graduates. Masters graduates earn £8k more than degree graduates.
On average over your future career you could earn £xxxxxx more by being a graduate.
This is a 22% increase over your future career.
This could be 47 times the amount invested in course fees currently needed to become a graduate.
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