Last Updated on: 22nd November 2023, 10:49 am
With 400,000 ‘freshers’ due to start university in the coming weeks*, leading job search engine Adzuna has used data from over 500,000** CVs to create a new “Value My Degree” tool which helps students determine their earning potential following graduation, and even identify what roles they’re most likely to land.
By selecting the qualification type, institution and course name, the tool offers the user an instant BA, MA or PhD ‘valuation’; revealing the average salary earned by those with the same qualification, 60 months (or five years) after they graduated. The tool uses text mining & machine learning methods to cross analyse this insight against average UK salaries to produce an overall degree valuation.
‘Value My Degree’ also reveals the most common jobs associated with each qualification – again based on CV data from graduates – and even shows how the salary ‘value’ compares with other institutions.
So which degree subjects are the most valuable?
The course with the highest value across all institutions and qualification levels (Bachelor’s, MA or PhD) is Software Engineering, with the vast majority of graduates moving into Web development and App Development roles. The average Web Developer salary is £45,395 per annum. This is 32.1% above the national average advertised salary of £34,355.
Computer Science is in second place, with the majority of graduates moving into Software Development positions five years after graduating. The degree is an appealing option for students with over 25,000 Software Development positions currently available in the UK with an average salary of £50,568.
Finance degrees round out the top three, with graduates moving into analytical or management roles five years after leaving university. There are 33,194 analyst positions available in the UK right now with an average salary of £42,847.
The top 10 most valuable degree subject in the U.K:
|
1 |
Software Engineering |
£37,033 |
|
2 |
Computer Science |
£34,088 |
|
3 |
Finance |
£33,350 |
|
4 |
Electronic Engineering |
£33,072 |
|
5 |
Engineering |
£32,607 |
|
6 |
Business |
£32,556 |
|
7 |
Mechanical Engineering |
£31,033 |
|
8 |
Economics |
£30,650 |
|
9 |
German |
£31,269 |
|
10 |
Marketing |
£30,974 |
The 10 least valuable degree subject in the U.K:
|
1 |
Counselling |
£20,719 |
|
2 |
Social Work |
£22,276 |
|
3 |
Ecology |
£23,066 |
|
4 |
Pharmacy |
£23,462 |
|
5 |
Nursing |
£24,132 |
|
6 |
Italian |
£24,425 |
|
7 |
Social Sciences |
£24,602 |
|
8 |
Criminology |
£24,808 |
|
9 |
Art |
£24,862 |
|
10 |
English Language |
£24,990 |
Top Ten Highest Earning Qualifications in the U.K (based on 60 months’ work experience):
|
1. |
Doctorate in Software Engineering at Oxford (£54,533) Cambridge (£54,405), London School of Economics (£53,706), University College London (£51,329), Kings College London (£49,984), Imperial College London (£49,313), Edinburgh (£48,842) |
|
2. |
Masters in Software Engineering at Oxford (£50,899) Cambridge (£50,780), London School of Economics (£50,780), University College London (£47,909) |
|
3. |
Doctorate in Computer Science at Oxford (£50,197) Cambridge (£50,079) or London School of Economics (£49,464), University College London (£47,248) |
|
4. |
Doctorate in Finance at Oxford (£49,111) Cambridge (£48,995), London School of Economics (£48,366) |
|
5. |
Doctorate in Engineering at Oxford (£48,016) Cambridge (£47,903) |
|
6. |
Doctorate in Business at Oxford (£47,941) Cambridge (£47,828) and London School of Economics (£47,212) |
|
7. |
Masters in Computer Science at Oxford (£46,852) |
|
8. |
Doctorate in Mechanical Engineering at Oxford (£46,800) |
|
9. |
Doctorate in Economics at Oxford (£46,632) Cambridge (£46,522) |
|
10. |
Doctorate in German at Oxford (£46,046) |
Degree and University combinations with the highest earning potential in the U.K:
|
1. |
Computer Science (£43,090 at Oxford) |
|
2. |
Accounting and Finance (£41,519 at LSE) |
|
3. |
Systems Engineering (£41,806 at Warwick) |
|
4. |
Economics (£40,030 at Oxford) |
|
5. |
German (£37,204 at UCL) |
|
6. |
Law (£36,511 at Oxford) |
|
7. |
Architecture (£36,199 at Cambridge) |
|
8. |
Physics (£35,872 at Oxford) |
|
9. |
Mathematics (£35,592 at LSE) |
|
10. |
Business (£35,444 at Manchester) |
Andrew Hunter, co-founder of Adzuna, comments: “With the average UK salary sitting at £25,844 p.a. in 2019*** it could be worrying for some students to see their potential salary falling below this, even after gaining an expensive qualification and working for several years. Many students are now leaving university with debts amounting to £27,000**** you wouldn’t blame them for wanting to see better return on their investment.
“This discrepancy between average salaries of graduates, and the cost of higher education clearly explains why four in ten UK adults (39%) believe university tuition fees should be mostly covered by the government.*****
“At this time of year, school leavers and college students need to start making some tough decisions about their future and the career path they want to follow. Whilst there is an array of options and opportunities out there, there isn’t enough insight into the impact a degree can have on career prospects. In building this tool, we wanted to help students gain a better understanding of the options available to them and what that could mean for their future.”
For more information about Adzuna, visit https://www.adzuna.co.uk/.
