With the deadline for UCAS applications a matter of weeks away, those looking for a university place might already be wondering about their prospects post-graduation. In good news for those hoping to study in London, graduates at one top university in the city are out-earning their peers from other universities five years after completing their courses, data has revealed. A spokesperson from Save the Student, a money website, commented positively on the data, stating that today’s students feel increasingly confident about securing employment after university.
Data from the Department for Education released last year showcased that first degree graduates at London School of Economics (LSE) reported a median annual salary of £55,500 in 2021-22, five years after completing their course. In stark contrast, the lowest-earning graduates were from the Conservatoire for Dance and Drama, with a median salary of £20,800 five years post-graduation.
LSE economics course graduates saw the highest earnings, boasting an impressive average of £73,700. On the other hand, alumni who studied sociology, social policy, or anthropology earned around £35,400 each year. These figures underscore that LSE had the highest average salary compared to all other institutions in London, which collectively averaged earnings of £28,300.
LSE graduates outpace their London student peers when it comes to salaries
Universities outperforming the London average include the Royal Veterinary College with a median salary of £38,000 and University College London graduates pocketing £42,700 a year. However, Royal College of Music alumni are seeing a median salary of just £22,500 five years post-graduation.
Yet generally, the educational landscape is looking up, as most institutions and courses have seen an increase in graduate salaries that keep pace with or exceed inflation rates since 2015-16. In fact, about 75 per cent of universities reported a rise of at least 13% in median earnings for their graduates in 2021-22 compared to six years earlier.
Tom Allingham from Save the Student weighed in: “On the face of it, this data paints a promising picture for graduates. However, it’s worth noting that the dataset only runs to the 2021-22 tax year, and therefore doesn’t include much of the sky-high rates of inflation witnessed throughout most of 2022 and 2023.”
He continued: “Nonetheless, the future looks bright for many graduates particularly those from STEM subjects and perhaps explains why in our own research, the proportion of students confident about finding work after leaving university has increased dramatically in the post-Covid era, up from 38 per cent in 2021 to 58 per cent in 2023.”
Moreover, the statistics showed that female graduates from the London School of Economics and Political Science had a median salary of £50,400 five years after graduation, compared to their male counterparts who earned £61,400, highlighting an 18 per cent gender pay gap. The data across all London universities also suggested that students with degrees in STEM subjects earned more than those who studied performing arts and humanities.
Here’s the full list of median graduate salaries for London universities, five years after course completion:
- London School of Economics – £55,500
- University College London – £42,700
- King’s College London – £42,300
- Queen Mary University of London – £38,700
- Royal Veterinary College – £38,000
- City University – £37,800
- Brunel University London – £34,300
- Birkbeck College – £32,100
- London Southbank University – £32,100
- University of Greenwich – £31,000
- University of Westminster – £29,900
- Kingston University – £29,900
- Roehampton University – £28,500
- Goldsmiths College – £28,100
- Middlesex University – £27,700
- Ravensbourne – £27,700
- London Metropolitan University – £27,400
- University of Arts London -£26,300
- University of East London – £25,600
- Rose Bruford College – £22,600
- Royal College of Music – £22,500
- Conservatoire of Dance and Drama – £20,800
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