There has been a sharp decline in starting salaries for graduates, according to research by The Complete University Guide. Average starting salaries for graduates fell by £2,500 from £24,293 to £21,702 between 2007-12, whilst in the same time tuition fees have trebled.
The highest paid graduate occupation is still Dentistry, but even this industry saw a 9% drop in average earnings for graduates to £30,681. A further worrying trend is the rate of decline in salaries is accelerating, based on returns to the DLHE (Destination of Leavers from Higher Education). The previous survey for graduate starting salaries showed a 4% decrease for 2005-10, which has jumped to 11% for 2007-12.
However if you’re looking for a recession-proof sector, Material Technology did particularly well showing a healthy 13% increase in starting salary during the survey period and perhaps surprisingly Librarianship and Information Management also showed a 3% increase. DP