Making sense of the world is pretty difficult for us all at the moment. It can’t be particularly easy for teachers, parents, and carers of teenagers, planning for life after school or sixth form is on the agenda. Even without the pandemic, it’s difficult to know what the job roles of the future will be, given the march of technology. But we do know something about which sectors (areas of work) will have the biggest demand for skills through something called Labour Market Information.
If you’re seeking more transparency around the salaries that people go on to earn after university, extra help is at hand thanks to our collaboration with The Pay Index: thepayindex.com/gm-higher/signup
The Pay Index is an online platform, which is free-to-use, that brings to life information about graduate outcomes and makes it easy to understand. It’s a “must” for anyone who is thinking about higher education.
The data behind the platform draws on HMRC records. It is brought to life through a series of visuals with the results personalised to your potential choice of degree subject. Pick a subject and you get to explore what people typically go on to earn over a decade after the course ends. You’ll also be able to look at trends around where people go study these subjects and where they locate afterward.
There are a few caveats to consider as you work through the reports, but what The Pay Index does, very powerfully, is show earning outcomes over a lifetime across different degree subjects. Leap to the Discover Uni website, and you will be able to compare outcomes across different courses at different universities.
The science behind picking the right university and course should always be made for a number of reasons. The love of a subject and appetite to study it intensively should always be the first call. Some things you can’t put a price on. How do you put a value on a good student experience? Meeting new people? Making new networks? The extra-curricular activities? Opportunities for work experience or travel?
For me, the power of the Pay Index is that it tells us more about the cost of living after Uni, which in itself puts the current student finance system into context because contributions only kick in when earning above £27,725 per year it is, what Martin Lewis of moneysavingexpert.com calls, a no-win, no-fee education. Only the very highest 25% of earners will need to repay everything.
Written by Ian McGarry, GM Higher Information, Advice and Guidance Manager.
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