MillionPlus comment on IFS analysis of graduate earnings

MillionPlus, the Association for Modern Universities, has today (25 June) welcomed new analysis from the Institute for Fiscal Studies (IFS) showing that most graduates benefit significantly from higher education, with the average graduate around £100,000 better off over their lifetime.

The findings underline the continued strength of a university degree as a driver of higher earnings, career progression and long-term financial security, as well as its wider contribution to the public finances through increased tax revenues. The research also shows that returns remain positive even for those with lower prior attainment, with students who achieved lower GCSE grades still earning around £53,000 more on average over their lifetime than similar peers who did not attend university.

Rachel Hewitt, Chief Executive of MillionPlus, said:

“This analysis is a clear reminder that financially, for the vast majority of students, going to university pays off. Graduates not only improve their own earning potential but also make a substantial contribution to the UK economy over their working lives, as well as the broader benefits to individual's lives from higher level study.

“As institutions that excel in university-business collaboration, modern universities are central to delivering these outcomes, supporting students from all backgrounds to succeed and equipping them with the skills employers need. Ensuring that more people can access and benefit from higher education remains vital for both individual opportunity and economic growth.”

ENDS

Notes to editors

1. For further information or to arrange an interview, please email press@millionplus.ac.uk
2. MillionPlus is the Association for Modern Universities in the UK, and the voice of 21st century higher education. We champion, promote and raise awareness of the essential role and impact of modern universities in the UK’s world-leading higher education sector. More information can be found at www.millionplus.ac.uk
3. The embargoed report New estimates of the impact of undergraduate degrees on lifetime earnings is available here.
4. What are modern universities? Modern universities are long established centres of higher education in their communities with roots that stretch back decades, if not centuries. Many gained university title following legislation agreed by parliament in 1992. They make up almost half of the UK university sector with over a million students studying at modern universities every year.
5. Think Modern: Innovation, ingenuity and inclusion from Britain's modern universities – facts and stats