University salaries disclosed in new report

Yesterday, the Department for Education and Institute of Fiscal Studies released a study which reveals what obtaining a degree means for both men and women from UK universities. The results were obtained from an analysis of salaries at the age of 29.

The study found that women who study maths at Oxford and men studying economics at Bristol get the biggest increase in earnings from going to university. The lowest earnings from a degree for men is studying philosophy at Sussex University and surprisingly, for women it is computing at Westminster.

It also found that women with a degree earn on average 28% more than non-graduate women and men with degrees earn an average of 8% more than non-graduates.

Even more concerning, it was found that getting a degree does little to close the gender pay gap, with the research disclosing that female graduates earn little more than many men of the same age without degrees.

Sheila Flavell, COO at FDM Group and Chair of the IoC’s Advisory Board comments:

“These figures underline the fact that the gender pay gap is more than just a HR issue. A university education is supposed to lead to a better starting salary and yet women graduates find themselves earning little more than men who have not taken degree-level qualifications. Businesses need to wake up to this reality and recognise that much more needs to be done to tackle this issue, including reviewing graduate salaries and training programmes to ensure women get the best start in the world of work.

“With the digital skills gap leaving companies short of tech talent, what message are we sending if those who have dedicated years to academic study find themselves at a financial disadvantage when they start work? We need to see more collaboration between industry and academic institutions to solve this problem, developing bespoke courses that bring skills to businesses and provide high quality employment opportunities for the next generation.”