When it comes to choosing your degree, should you follow your heart or the money? Our guide to average graduate starting salaries can help you make the call...
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There are many factors that affect how big your graduate starting salary will be. The four biggies are: the employer, the industry, the location, and job market competition.
If you're a recent graduate looking for work, employers increasingly want to know how much you think you're worth. It's a common question during job interviews, so it's best to be prepared with an answer. This guide will give you the ballpark figures for degree subjects so you don't sell yourself short.
Average graduate salary for degrees:
It's worth joining (free) sites like the Graduate Recruitment Bureau and CV Library. They'll help you get the job you want with the salary you deserve.
Graduate salaries in 2024
The current average graduate salary in the UK is £38,500*, according to the Department for Education Official Statistics.
However, we've heard folk reporting everything between £16,000 and £90,000.
As you'd expect (and as we'll cover in more detail below), the lower end of this scale is representative of graduate salaries in professions like Journalism and the Arts. Meanwhile, you're more likely to find graduate salaries at the top end of this scale in areas like Banking or Computer Science.
Ultimately, the average figure is just that: an average. Depending on the subject you study, the industry you want to work in, plus a whole range of other factors, you could end up earning significantly higher or lower than the average.
Average graduate salaries in each industry
These are the typical starting salaries for UK graduates** based on the industries they choose to work in:
Art (creative, visual and performance)
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As you probably already know if you're interested in the field, the graduate job market for art students isn't the most flush with cash.
For those wanting to get into Creative Arts(design, music, and performing or visual arts), salaries vary vastly. But keep in mind that the industry you work in could make a considerable difference.
A typical starting salary for a curatorial position (e.g. Assistant Curator) is usually between £18,000 – £25,000. But, there's the potential to earn upwards of £40,000 later in your career if and when you progress to a more senior position.
Going for a career in the digital arts has the potential to offer you a higher salary. With everything shifting online, graphic and digital designers are pretty high in demand these days.
This means that, although a graduate salary could start between £18,000 – £23,000, it can rise to £27,000 once you've got a bit of experience. Later on in your career, you could expect to earn between £35,000 – £60,000 a year depending on your role.
If you're keen to find out more about the gender pay gap, check out our detailed guide.
Banking and Accountancy
Salaries for Accountancy vary considerably depending on location, size of company and specialisation.
Graduates becoming Chartered Accountants can expect a starting salary of up to £40,000. However, graduates have reported earning anything between £17,000 and £50,000 in their first job.
Those who enter Banking (unsurprisingly) get the big bucks. Though trainee positions may start at £25,000, the average graduate salary in Operational Investment Banking is often more within the £55,000 – £69,000 range. This can quickly rise, with many Operational Investment Bankers earning well over £100,000 a year plus bonuses.
Business, Marketing and Management
Business and Management degrees can openupdoors to some seriously well-paid careers in Accountancy orInvestment Banking. You've also got options in Marketing, Media, Human Resources (HR) and Retail Management.
A starting salary in Retail Management will likelybe in the range of £19,000 – £25,000, but some graduate training schemes pay handsomely for impressive candidates. For example, Aldi's go-to Area Manager grad scheme pays £50,000 in the first year. If that doesn't quite do it for you, they'll throw in a car, too.
Acareer in HR will see you start on something between £18,000 – £23,000 (rising rapidly with more experience and qualifications).
On the other hand, Digital Marketers can expect a starting salary between £22,000 – £25,000, again increasing substantially with experience.
Computer Science
Your career path will depend on what you specialise in, but IT industries are on the up. They offer heaps of choice: programming, front- and back-end development, systems analysis, web design, UX design, online security, games and apps. The list really is endless.
Starting salaries vary a lot for this type of work as the roles are so varied, but typically, they'll be around £18,000 – £25,000. It's worth mentioning that despite this average, graduates have reported receiving anything from £17,000 – £70,000 in IT roles.
Going to university isn't all about the money. Here are the arguments for and against it being worth getting a degree.
Education
There are tonnes of ways to get into teaching right now, many of which are generously funded.
Currently, the minimum starting salary for qualified teachers in England (outside of London) is £30,000, depending on where you live. In Scotland, you'll start on £32,217 in your probation year. Newly qualified teachers start on a £30,742salary in Wales. In Northern Ireland, you'll be looking at £24,137.
Engineering
An Engineering degree is another which can lead to a wide range of career paths. Again, the resulting salary will vary depending on what subject specialism you take.
HESA Graduate Outcomes data puts the average salary for engineering and technology graduates at £29,500.
Possible roles include a Chemical Engineer, which will earn you an average of £30,000 in your first job, or a Civil Engineer, which has a starting salary of £26,000 – £32,500.
Humanities
Humanities degreesare fairly flexiblewhen it comes to job hunting. On the one hand,you may not be sure quite what you're going to do when you graduate. On the other, having a bank of transferable skills means that Media, Marketing,Teaching and other industries are great options too.
The average graduate salary in Publishing and Journalismcan be anywhere from £15,000 – £26,000. You're typically expected to start at the bottom and work your way through the ranks.
Unpaid internships are sadly common in writing roles (although it's definitely possible to make money writing), but postgrad or in-house training could help you bag a better starting position. There's a possibility to make money freelancing, too, especially in writing and editing. Check out the National Union of Journalists to get an idea of rates.
The bottom rung in Film and Television work is as a Runner. According to BECTU, the UK's media union, the recommended pay (if you get any, that is) is £12.50 – £16.70 per hour (excluding Holiday Pay). Sadly, as competition is so fierce, there's little chance of your pay increasing.
Have a look at BECTU (the UK's media union), or big players such as the BBC, for training and apprenticeship opportunities.
Law
You might think of Law as a quick win for your pay packet, but the reality is that starting salaries vary massively.
The Law Society recommends that Trainee Solicitors be paid at least £23,122 (£26,068 in London), but note that isn't an enforceable rule. However, depending on the role and the company, you could earn much more in your first job – £70,000+ in some cases.
As for Pupil Barristers? The Bar Standards Board says that you must be paid at least £21,060 (£23,078 in London) for a full 12-month pupillage in England and Wales. However, some pay £70,000 or more, depending on who you work for.
Life Sciences
Trainee Clinical Scientists typically start on band 6 of the NHS' pay scale, which equates to £35,392a year.
Podiatrists, meanwhile, enter on band 5, where the salary for those with less than two years of experience is £28,407.
And remember, in the NHS it's always possible to go up a pay band as your skills and experience increase.
Medicine and Nursing
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If you think Medicine is always the fast track to a fat wallet, you may be in for a shock: starting salaries are often no greater than for Humanities careers. However, you'll likely be able to earn more money in less time, plus have access to better leave, sick pay and other job benefits.
The big money comes in when you start specialising. Either way, the further training required can be hard-going and only worth it if you're prepared to stick with it for the long haul.
Graduates going intoAdult Nursing start at band 5 on the NHS pay scale, giving them a starting salary of£28,407.
Junior doctors in their first year of postgrad foundation training earn a minimum of £32,398 (boosted to £37,303 by Foundation Year 2). Once you've started training for a speciality, you can earn between £43,923 – £63,152.
Newly qualified Dentists can expect to earn £36,288 a year during their dental foundation training, while in Veterinary Medicine the average starting salary is around £33,000.
Graduate salary bydegree
Below is a list detailing the average starting salaries of UK graduates by subject area of degree, regardless of which industry they ended up in.
Don't forget that your earnings will increase with experience. It also depends a lot on what career path you take. Make the most of your degree and scope out further training requirementsand grad schemes early on.
| Subject area of degree | Graduate starting salary |
|---|---|
| Medicine & Dentistry | £35,000 |
| Subjects allied to Medicine | £26,000 |
| Biological & Sport Sciences | £24,000 |
| Psychology | £23,000 |
| Veterinary Sciences | £32,000 |
| Agriculture, food & related studies | £24,000 |
| Physical Sciences | £27,000 |
| Mathematical Sciences | £29,000 |
| Engineering & Technology | £29,500 |
| Computing | £29,000 |
| Architecture, Building & Planning | £26,000 |
| Geography, earth & environmental sciences (natural sciences) | £25,000 |
| Social sciences | £26,000 |
| Law | £23,000 |
| Business and Management | £25,000 |
| Language and area studies | £25,000 |
| Historical, philosophocal and religious studies | £25,000 |
| Education and Teaching | £25,500 |
| Combined and general studies | £26,500 |
| Media, journalism and communications | £23,000 |
| Design and creative and performing arts | £23,000 |
| Geography, earth & environmental sciences (social sciences) | £26,000 |
Data sourced from the Higher Education Graduate Outcomes Statistics: UK, 2020/21.
These are the subjects with the highest earning potential, but what about where you study? Check out the best universities for graduate salary.
How to choose a career
It's true that some degree disciplines lead to big money faster than others. But, don't get too hung up on it.
There's no point in earning £40,000 a year if it means you end up savouring loo breaks as an escape from the mindless monotony. Choose something that you're passionate about (or at least vaguely enjoy) and you'll be more likely to stick at it, work harder, and be open to new opportunities. There are tons of routes to a healthy salary.
Don'tjudge your future career (or any of your choices, for that matter!) on money alone. Success could be owning your own business, travelling the world or anything in between. Keep your eyes on the prize, not just the paycheque, and you'll find the right route for you. Good luck!
Can't wait to start earning the big bucks? Check out the best-paid part-time jobs for students and make some serious cash.
* Based on data from DfE.
** This data represents average figures collated from multiple sources, including HESA, DfE, NASUWT, Scottish Negotiating Committee for Teachers, Prospects, NHS careers, AllAbout Law, Bar Standards Board, Bectu and the NHS.
