Investing time and money into a college degree may seem daunting, but recent data out of England shows that those who attend university can go onto secure more lucrative salaries, than those who don’t.
In 2018, working-age graduates in England were earning a median salary of £34,000 ($44,000), while those who didn’t pursue further education saw a median wage of £24,000 a year, according to figures released by the U.K.’s Department for Education on Thursday.
This pay difference narrows when looking at the younger population, aged 21 to 30, with graduates receiving an average of £4,500 more than non-graduates, as people enter the job market.
For those who choose to extend their education by pursuing a postgraduate degree, this can push an individual’s annual salary even higher, with data showing that the average annual salary for those aged 16-64 reached £40,000 in 2018 — an increase of £6,000.
On the back of the announcement, the Minister of State for Universities Chris Skidmore embraced the overarching figures, which indicated that the “graduate premium” rewards those who pursue further education.