Degree "opens door to best jobs

Citation

(2002), "Degree "opens door to best jobs", Education + Training, Vol. 44 No. 8/9. https://doi.org/10.1108/et.2002.00444hab.003

Degree "opens door to best jobs"

Degree "opens door to best jobs"

Graduates are twice as likely to be promoted at work, twice as likely to go on holiday abroad, and they own homes that are 50 per cent more expensive than their non-graduate peers. People who gain degrees also have access to the best jobs, are less likely to smoke and more likely to vote.

These are the conclusions of research commissioned by the Department for Education and Skills, and a separate study by the Institute of Education, on the benefits of higher education.

The Government research found that:

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  The average value of homes owned by graduates is £153,000, compared to £101,000 for non-graduates. Graduates can also afford more rent, at £423 a month compared to £256 for non-graduates.

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  Graduates are twice as likely to go on holiday abroad. Almost half of non-graduates did not take holidays abroad, compared to one-fifth of graduates.

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  Graduates had twice as many promotions at work as non-graduates over the last five years. Only 36 per cent of graduates had not been promoted at all, compared to 57 per cent of non-graduates.

A paper presented at a Smith Institute seminar by Professor John Bynner, of the Institute of Education, concluded that:

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  graduates were 16 per cent less likely to smoke;

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  graduates were more likely to have voted in the last general election;

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  graduates were more likely to be involved with their local communities and members of local community and voluntary groups, including parent-teacher associations; and

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  higher education enhances labour-market prospects, not only through earnings, but through "guaranteed access to the best jobs".

Lifelong Learning and Higher Education Minister Margaret Hodge said: "We already know that having a degree means, on average, that you earn £400,000 over a lifetime more than non-graduates. Now this research confirms that those who aim higher and get a degree enjoy a better lifestyle and standard of living.

"This goes to show how important it is that all our bright young people who have the ability get the chance to go to university. At present, only one in eight young people in the bottom socio-economic group goes to university, compared with three in four in the top socio-economic group. We will have failed if we hit our target of 50 per cent participation in higher education among 18 to 30-year-olds by 2010 without recruiting from those groups which have historically missed out on higher education.

"The benefits to the individual from gaining a degree are immense. But aside from that, more graduates will strengthen our economy. Our labour-market forecasts show that eight out of ten of the new jobs created over this decade will require the sorts of skills that can be acquired through higher education.

"I think people forget that we only want half of our young people in higher education, and that some of those will be doing high-level vocational courses that will meet employers' needs. That still leaves another 50 per cent to pursue valuable careers that will fill skills shortages in plumbing, construction and other trades."