Economics graduates are among the highest earners when compared to other leading degree subjects, according to new research from Emolument.com.
Those who graduate with an Economics degree are set to earn a staggering 40% more than those who major in English Literature.
The figures have been compiled from crowdsourced data – submitted anonymously by 55,000 individuals – which allows undergraduates to explore what their career potential may be depending on the subject they choose.
The in-depth salary reports have revealed interesting insights into earning potential. It also highlights that those who study Economics at degree level can expect to earn 80% more than their peers studying Fine Art.
The report highlighted the average earning salary per course, five years after graduation:
- Economics – £45,000
- Law – £42,000
- Maths and Statistics – £39,000
- Chemistry and Natural Sciences – £38,000
- Accounting, Business and Finance – £37,000
- Engineering – £37,000
- Computer Sciences – £37,000
- Physics, Life Sciences and Healthcare – £36,000
- Management and Strategy – £36,000
- Humanities – £34,000
- Modern Languages – £32,000
- Philosophy – £32,000
- English Literature £31,000
- Media, Marketing and Communication – £27,000
- Fine Arts and Design – £25,000
Emolument.com also found that the earning potential of graduates depended greatly on the industries and sectors they enter. For example, those who study Economics, Finance and Maths at university are more likely to find themselves in lucrative careers within the financial services industry.
In contrast, those who studied Humanities and Politics are most likely to follow careers in charities, the public sector and not-for-profit organisations.
Alice Leguay, Co-founder and Chief Operating Officer of Emolument.com, said that young people have a number of “big decisions to make that will affect their lives in both the short and long term”. She added that it is important for graduates to have access to the potential salaries and job roles their degree can lead to.
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