New analysis reveals south east graduates earn at least a third more than non-graduates
21 Nov 2024
Universities UK’s new analysis of government LEO (Longitudinal Education Outcomes) data demonstrates those who chose to attend university earn significantly more than those who didn’t – irrespective of the region they are from. This data provides a new perspective on opportunities for graduates in the south east.
- By age 31 graduates from the south east earn 35% more than non graduates from the same region.
- This money benefits graduates’ wider communities, and the country as a whole - based on recent analysis, graduate skills, are estimated to have an economic impact of £95 billion nationwide in 2021-2 – and £13.12billion in the south east.
- There is also a clear trend across the country – that those regions with more graduates are more productive, driving economic growth.
- The industries of the future, those that the government has set out as driving growth over the next decade, are heavily dependent on graduate skills- including the creative sector (76%), Professional and business services (74%) and life science sector (73%).
In the south east, graduates outperform non-graduates by 35%, ten years after graduation. Even for those working in sectors which are commonly perceived as not needing degree-level training, such as arts and entertainment, the salary premium is clear, standing at 41.8%.
This analysis shows that a degree allows graduates from all regions to earn more. These graduates are driving growth for the country, and will be the backbone of those areas the government have set out as delivering growth and opportunity to local economies.
Professor Dame Sally Mapstone, FRSE, President of Universities UK, said: “Those of us who work in universities witness the transformative power of higher education every day, and it is compelling to see this borne out so strongly in this analysis. But this data shows something new – universities are anchors for growth right across the UK. As well as contributing to their local area through the money they spend while studying, graduates go on to meet the needs of local industries and to earn more. This new analysis gives a clear message to government, local and mayoral authorities that thriving universities in every part of the country are central to the prospects for individuals and communities.”