The Cannon - February 2012 - Fort Pitt Grammar School

THE CANNONPage 7Some thoughts from Mrs Hargreaves, Careers advisorCAREERS ADVICE ...on your futureTHE COST OF NOT GOING TO UNIVERSITYThere is much talk in the media about how expensive it is to go to University, which may be putting you off fromthinking about applying. But take a look at these figures and decide for yourself.All figures are at today’s prices. An average graduate will earn £1,611,551 over a working career of 45 years. Anaverage 18-year old (who does not take a degree) will earn £1,023,840 over a working career of 48 years. Thismeans a graduate earns £587,711 more than a non-graduate.The amount of money a graduate will repay for their student loan, of up to £48,750, will be far lower than £587,711.Unless a graduate starts earning £50,000 per year immediately after graduation, and continues to earn at least thismuch over the next 30 years, it’s likely that a significant amount of the student loan debt will be written off by theGovernment – meaning you won’t have to pay it. The average first year salary for a graduate is £19,653.So if you do decide to study for a degree you will have a lot more disposable income, to spend how you like, than ifyou don’t go to University. And remember you don’t need to go straight after school – many people do degrees aspart of their employment later in their adult life – but you do need to have studied for qualifications at furthereducation level that will allow you to study for a degree.(Figures provided by First Steps to Wealth by Skandia – report available on the school shared area.)CONSIDERING AN APPRENTICESHIPAn apprenticeship allows you to work and study for an industry standard qualification at the same time. But whichapprenticeships give you the best salary – at today’s prices? The two most promising sectors for apprenticeships interms of the amount of money you can earn over your working career are Construction (£1,503,726) and HealthCare, Public Services and Care (£1,494,547). The apprenticeships offering the least income are Retail andCommercial (£1,038,746), Engineering and Manufacturing (£1,194,448) and Arts, Media and Publishing(£1,196,147).This is in comparison to an average graduate’s salary of £1,611,551 – which is still £107,835 more than the topapprenticeship salary, and you are wont be spending all that extra money paying off your student loan. You canchoose to do an apprenticeship at 16, but if you complete A levels first you may find it easier to make a successfulapprenticeship application. This will also give you the opportunity to do a degree in a whole variety of subjects atany time during your adult life, to increase both your salary and your disposal income – the amount of money youhave to spend.Consider your further education options very carefully because they will affect how much you earn and can spend inthe future.(Figures provided by First Steps to Wealth by Skandia – report available on the school shared area.)MATERIAL DONATIONSDo you have any unwanted newspaper, tissue paper, black bags, cotton wool,cling film, tin foil, string, cardboard or bubble-wrap? If so, can you pleasedonate it for the Maths and Science Challenge Day. There is a box labelled"Material Donations" in Reception!Many thanksAston Brand