University degrees 'continue to pay off'

Ten years after leaving university, the average graduate earns considerably more than their counterpart without a degree, according to new research.

UK graduates between the ages of 30 and 44 earn 77 per cent more than non-graduates of the same age bracket, figures from Organisation for Economic Cooperation and Development (OECD) indicate.

Among the entire workforce aged 25 and 64, degrees were also shown to provide an economic advantage, with the average graduate earning 55 per cent more. Additionally, it was found that female graduates' salaries reflected an even greater difference than men's.

OECD analyst Andreas Schleicher said that countries with a higher number of graduates could help serve the changing economy, which is becoming increasingly focused on knowledge.

Australia, Sweden and Norway were the countries revealed to have the highest proportion of people in higher education. The figure in the UK stands at 51 per cent.

A recent study by the Institute of Education suggested that lucrative careers such as accountancy jobs were attracting more graduates.