Studying at university delivers huge benefits to both graduates’ earnings and the wider UK economy, according to 2 Department for Business, Innovation and Skills (BIS) reports published on 15 August 2013.
As hundreds of thousands of students get their A level results, new data from the ‘Impact of University Degrees on the Lifecycle of Earnings’ shows female students who progress to university can expect to boost their lifetime earnings by £250,000. Male students can expect to increase their lifetime earnings by £165,000.
The new report the ‘Relationship Between Graduates and Economic Growth Across Countries’, shows that university study contributes significantly to the economy. An increase in the number of graduates accounts for:
- around 20% of the UK’s economic growth between 1982 and 2005
- at least a third of the increase in labour productivity from 1994 to 2005
Universities and Science Minister David Willetts said:
As students discover their A Level results this new data highlights just what a great long-term investment university is.
A degree remains one of the best pathways to achieving a good job and a rewarding career - as well as a hugely enjoyable experience for most students.