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Graduates don’t make more money

May 12, 2011

I was reading the NUS report ‘Broke and Broken’ recently, which highlights the current state of student debt. Apparently Barclays reckon by 2010, the average student will owe over £30,ooo by the time they graduate.

The NUS report also shows you how much the average graduate will earn extra over their lifetime, compared to someone with just A levels or a college education. As you might expect, doctors, lawyers and business CEOs are up there earning hundreds of thousands of pounds extra. Good times! They might have an expensive education, but the hard work and investment have paid off.

But arts and humanities graduates have a different story. The NUS report predicts that in the lifetime of the average arts and humanities graduate, they will earn just £35,000 more than someone with A levels.

That’s not per year, that’s over a lifetime!

So let’s get this straight… you are going to study History at university… you borrow £30,000 to pay for your education… you end up making £30,000 more as a result. So three years hard work has actually made you nothing extra. Not a penny. Thirty grand in, and thirty grand out. Bad times.

These statistics are frightening. But then think about everyone you know with a degree. Are they all working in the careers they studied for? I know Design graduates who sell cars for a living, and Sociology graduates who work for Club 18-30. There is nothing wrong with that, but the truth is, more and more graduates are not working in the field of work they studied for and are not earning any more than the national average.

However, help is at hand. You don’t need to graduate will huge debts. You can raise all of the money you need to study without taking on any loans or credit. I know because I raised over £25,000 for my education with no previous experience in fundraising. Trust me, I’m no genius. I did it and you can do it too.

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