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Degrees boost life income by £100,000

21 Aug 2007

Degrees boost life income by £100,000 A heart-warming thought for cash-strapped students - according to the government, the average UK graduate will earn £100,000 more than non-graduates over their working life.

The Department for Innovation Universities and Skills recently stated: "Higher Education is one of the most important investments a young person can make.

"The average graduate over their working life will earn over £100,000 (after tax) more than people with A-Levels who do not choose to go into higher education."

Those students looking to earn the biggest graduate salaries should head for careers in the law, banking and finance, figures suggest.

Recent figures from the Association of Graduate Careers Annual Review suggest that a typical starting salary for a first-degree graduate is around £18,600.

The lowest starting salaries are typically found in the public sector and insurance industry.

Consultancy, communications and IT services also tend to offer above-average starter salaries for graduates.

Financial incentives used to recruit graduates come in many different forms.

These often include interest-free loans to help pay off student debt, a car allowance, laptop or mobile phone or a 'golden hello' in the form of a one-off lump payment.

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