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December 2, 2017
HOW YOUR DEGREE CAN CREATE A
DIFFERENCE IN YOUR ANNUAL INCOME
August 29, 2011 1862
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It is to be mentioned that the academic degrees pursued by an
individual can certainly decide his/her future earnings based on the
economy of the country, the various occupations and revenues
generated from each of them and likewise factors. Millions of
students across the globe apply for their academic courses based on
the analysis of what they want to become and what could be the
potential prospect of pursuing a particular academic course in terms
of earning a decent salary in the long run.
In most of the cases, acquiring a university degree certainly helps an
individual in securing a job in a comparatively easier way than they
could have managed without having a degree. If we have to talk about
the stats, it has been estimated and as per statements presented by
BBC.com, the average income of men having their individual academic
degrees can be around £170,000, while for the women the gure can
approximately be £250,000 and above. It is said that in England with
higher tuition fees, the potential students graduate with debts that
exceed an amount of £50,000. This is considered much more than
other countries such as North Ireland, Wales and Ireland.
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Now it is to be noted that the students who are already graduating
with debts exceeding an amount of £50,000 will de nitely look for
better prospects in terms of income and salaries that they would
probably draw in the near future. At times, the prospective income
scale of an individual graduating with academic degrees depends on
the university he/she belongs to.
Reportedly, after completing an academic course and being
graduated after ve years, the students from Oxford University,
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London School of Economics and Imperial College London earn an
income of around £40,000 and more. On the other hand, the income
scale is about £33,500 for the students who have graduated from 24
Russell Groups of Universities. This gure is about 40 percent more
than that of the students who have graduated from other universities
in and around the United Kingdom.
The other half of the picture depicts the scenario of other colleges in
the United Kingdom, and most of the institutes are dance and drama
colleges. Students graduating from these colleges have been
estimated to have an income scale which is somewhat closer to an
amount of £15,000.
Here’s a comprehensive demonstration of the potential income scale
of students graduating with the following subjects.
SUBJECT
INCOME SCALE
Medicine & Dentistry
Above £ 40,000
Economics
Up to £40,000 approx
Mathematics Below £40,000
Veterinary Science Below £40,000
Engineering & Technology Below £40,000
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Architecture Below £40,000
Computer Science Below £40,000
Languages Below £40,000
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Law Below £40,000
Business Below £40,000
A Concise Note on
Analytical Essays
with Choicest ...
Physical Sciences Below £40,000
All Medicine Below £40,000
Categories
Nursing Below £40,000
Combined Below £40,000
Uncategorized
1
History & Philosophy Below £40,000
Social Studies Below £40,000
Academic Assignment Wri ng
5
Academic Wri ng
5
Biological Sciences Below £40,000
English Below £40,000
Education Below £40,000
Communications Below £40,000
Psychology Below £40,000
Agriculture Below £40,000
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Counseling Psychology
5
5
5
5
1
Art & Design
Below £40,000
Well, it is to be noted that the differences in income scale that have
been mentioned above is entirely due to the university one belongs
to, but there can be other factors associated as well, such as:
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Overall academic performance
If your academic performance is not that promising throughout the
year and you end up scoring below average grades in semesters
consistently, then it will automatically limit your scopes of earning a
decent salary end of the day. Students with lower performance or
dissatisfactory academic graders are more likely to face struggle and
income setbacks in future. On the contrary, a student who is sincere
enough in carrying on with his/her academic duties and has
maintained a consistent performance in semesters throughout the
year is more likely to bag a job that fetches him/her better income
prospects in the long run.
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Interests and Abilities
Different student has different interests and academic abilities to
acquired knowledge and carry on with that particular stream of
study. Someone who is pursuing a degree course in Economics if ends
up leaving the subject midway before graduation, or in case an
individual is not that capable of acquiring technical knowledge and
using well acquired concepts in the real world, then the overall scope
of earning salaries that can actually make them rich narrows down.
One must be responsible and hard working enough to ensure
prosperous income structures.
For instance, the students of Oxford University or the Russell Group
of Universities generally end up acquiring better academic grades as
compared to their contemporaries. But the main point of discussion
in this context is certainly the choice of subjects made by an
individual to carry on with. This is de nitely one of the biggest
decisions one must take before they can think of proceeding with a
particular course. The income prospect of a student who has studied
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Economics during his/her academic days will de nitely not be the
same as that of a student who has pursued a degree in the study of
Languages. According to a statistical study, annual earnings in pound,
according to the subject students have pursued during the 5 years of
graduation shows that the students those who have graduated with
degrees in medicine and dentistry can expect to earn an average
income amounting to £46,700. On the other hand, students of
Economics can expect to earn £40,000, as already discussed in the
earlier section.
Also Read: THE BEST UK UNIVERSITIES TO STUDY AND GET A JOB
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Talking of the study of creative arts, the average income earned by
the students those who have pursued this subject is around £20,100.
Students graduated with degrees in Mass Communication earn an
average salary of £22,300 and the ones who did their courses on
Agriculture can expect to earn an average income of £22,000
annually.
One must take note of the fact that each of the income gures
mentioned above is actually half of that of Medicine, Dentistry and
Economics. One may argue that there is not much difference
between the income scale of the students pursuing Economics and
Mass Com. But a signi cant gap tends to appear when the individual
merits of the students are compared. For instance, the pupil who has
remained a class topper in Economics throughout his/her academic
session when compared to the ace students of creative arts earning a
salary of £20,100 will certainly make a signi cant difference, since
both the candidates despite being class toppers and rank holders
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have to carry on with their individual professional careers with a
difference in salary.
Social Background and Loan
Repayment
Although this can be tagged as a harsh truth, but a truth at the end of
the day is a fact that can’t be denied. The social background of a
student certainly matters when it comes to university graduations
and pursuing other higher academic degrees. People belonging to a
well-to-do background have greater chances of going to the
universities or pursuing higher academic degrees for the matter of
fact. On the contrary, someone who is coming from a poor household
may not afford to carry on with his/her studies for long; especially
the monetary factor comes in.It has been found that male students
coming from higher income households end up earning an amount
that is 20% more than that of their university mates who come from a
household of lower income groups. Talking of women, the difference
is that of 16% between the higher income and lower income
households.
Things might just get more complicated if a student coming from a
lower income background has to manage his/her basic education by
taking loans and struggling
nancially. Even if the candidate will
manage to nish the basic education somehow, they might nd things
dif cult to carry on with when it will come to pursuing further
degrees. Thus, this will automatically reduce their chances of landing
up with a job that can fetch them lucrative salaries.
Student loan certainly plays a major role in this context. Talking of the
academic subjects that ensure higher or lower income rates, it is to
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e noted that there are certain academic studies that require an
individual to spend some signi cant amount of money throughout
session. Now difference tends to appear when a student has to take
educational loans to support his/her academic studies. If the debt
appears to be huge, then repaying the amount within the stipulated
frame of time shall become a major issue. Even if a student ends up
earning a decent salary, most of the amount earned will be then spent
on settling the loan amount.
With an increase in the tuition fees in England on an annual basis,
potential students are subjected to more debts. As a result, their
professional career might get affected if they have to repay a large
sum of loan for a long period of time. Thus, a notion can be
established that at teems subjects or educational structure that
require an individual to pay some major amount of money might
make things dif cult for them in the long run, in terms of income
prospects and the likes.
Apparently, the income prospects for an average student of
management, science or medical science is comparatively higher than
that of the students pursuing Arts. One must try and choose their
academic subjects wisely if the focus remains primarily on having an
income scale that can make them rich.
Well, when it comes to passion and following your dreams, certain
theories and regulation might not apply. For instance, someone who
is passionate about arts and literature and is absolutely skillful in
carrying on with the subject shall never be satis ed pursuing other
academic streams of study. Things would eventually turn worse for
the person if he/she lands up with the wrong job, just for the sake of
earning higher income.
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While there may be contradictions, and the debate might seem to be
endless; to conclude, it is to be noted that irrespective of the country,
the study of medicines and science has always been at a higher level
of signi cance when it comes to earning salaries, as compared to
other contemporary subjects.
Having academic degrees isn’t
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It goes without saying that acquiring academic degrees is certainly
important for every potential student to have a promising
professional career in the long run, but it is also to be noted that
graduating with a below average grade won’t be of any signi cant
help. If you are want to shine bright with a prosperous professional
career ahead, then keeping a good academic track record is essential.
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