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New graduates earn an average of £20,000
Thursday, 03 July 2008
Life after graduation
The average pay for graduates leaving full-time degree programmes is £20,000, according to statistics published today.
Higher Education Statistics Agency (HESA) statistics also reveal that 64 per cent of leavers found a graduate job when they left university, with only six per cent spending the whole of the next year out of employment.
Higher education minister Bill Rammell told the Guardian that a university degree was needed for those wanting to "get on in life".
He stated: "These statistics show that six months after graduation, a university degree is a great way to get a good, well-paid job, and to get on in life, a picture that only improves over time.
"Graduates can expect to earn considerably more over their careers than those without a degree, with the average graduate earning comfortably more than £100,000 [extra] over their lifetime, in today's valuation and net of tax, compared to someone who just has A-levels."
HESA connected the statistics in collaboration with the Department for Innovation, Universities and Skills, the Welsh Assembly Government, the Scottish Government and the Department for Employment and Learning Northern Ireland.