What you earn, depends on what you learn. Your degree eventually decides your earnings. But students do not consider that when going to university. They choose a subject they like and find out later on what the job market has to offer. Many will become professionals in one shape or another. Some may decide to take up a trade, as it may have worked for their Dad or Mum. Some may become entrepreneurs and that status can lead to extreme wealth – or poverty. There are no guarantees there either.
Professional employment refers to a job or occupation which normally requires a degree. Examples are doctor, lawyer, teacher, pharmacist, civil engineer etc.
Non-professional employment refers to a job or occupation which doesn’t normally require a degree. Examples are road sweeper, retail assistant, gardener or a waiter.
It must be noted that many non-professionals can still earn more than professionals particularly if they have a trade such as plumbers, electricians, top chefs or window fitters.
The professional premium will show you the difference in salaries between graduates and non-graduates.
The professional premium is the pay gap between the mean salary for those entering employment in a professional job, and the mean salary for those starting non-professional employment.
It appears the following subject have the highest professional premium when graduates start out.
Electrical & Electronic Engineering
Aeronautical & Manufacturing Engineering
Physics & Astronomy
The following subjects have the lowest professional premium and may find friends who did not go to university earning more than them.
Hospitality, Leisure, Recreation & Tourism
Pharmacology & Pharmacy
History of Art, Architecture & Design
Drama, Dance & Cinematics
Communication & Media Studies
Art & Design
Optometry, Ophthalmology & Orthoptics
Here is the Graduate Table of Earnings for 2017.
|Electrical & Electronic Engineering||£27,659|
|Aeronautical & Manufacturing Engineering||£26,736|
|Physics & Astronomy||£26,731|
|Land & Property Management||£25,065|
|Librarianship & Information Management||£24,973|
|Business & Management Studies||£24,437|
|Middle Eastern & African Studies||£24,195|
|Russian & East European Languages||£24,191|
|Accounting & Finance||£23,818|
|Town & Country Planning and Landscape Design||£23,269|
|East & South Asian Studies||£22,889|
|Aural & Oral Sciences||£22,380|
|Anatomy & Physiology||£22,210|
|Geography & Environmental Science||£22,144|
|Classics & Ancient History||£21,863|
|Agriculture & Forestry||£21,428|
|Theology & Religious Studies||£21,421|
|Hospitality, Leisure, Recreation & Tourism||£21,012|
|Pharmacology & Pharmacy||£20,370|
|History of Art, Architecture & Design||£20,329|
|Drama, Dance & Cinematics||£20,238|
|Communication & Media Studies||£20,017|
|Art & Design||£19,746|
|Optometry, Ophthalmology & Orthoptics||£16,662|