Degrees generally provide graduates with a higher pay packet than their degreeless counterparts. But did you know that the university that you attend can have a huge impact on your expected earnings after graduation? At Adzuna, we have put this to the test by calculating average earnings five years after graduation. The university with the highest-earning graduates may just surprise you.
How did we do this? We completed an analysis of over 120,000 jobseeker CVs uploaded to Adzuna’s clever tool ValueMyCV between 2019 and 2023. We then used text mining technology to look at the career pathways taken by recent grads and the jobs they are working in 5 years after graduation. This then revealed average earnings across different institutions. Cool, right?
Let’s start with the universities producing the highest-earning graduates.
1. Bayes Business School (formerly Cass)
Average salary, 5 years after graduation: £51,921
Bayes Business School, based in London, takes the top spot for the highest-earning graduates. Prior to September 2021, Bayes Business School was known as Cass Business School, however, the decision was made to change the name due to Sir John Cass’ links with slavery. On average, graduates from this institution take home £51,921 five years after graduation. Pretty impressive!
2. University of Oxford
Average salary, 5 years after graduation: £49,086
The university taking the second spot on our list may not be a surprise to many. As well as being ranked the top university for 2023, University of Oxford graduates do very well after finishing university. Graduates from the university earn a very respectable salary of £49,086 five years after graduation.
3. Imperial College
Average salary, 5 years after graduation: £46,305
The third highest-earning graduates come from another London university, Imperial College. Graduates from Imperial College earn £46,305 on average five years after graduation.
4. University of Cambridge
Average salary, 5 years after graduation: £42,680
Although the prestigious university doesn’t feature in the top three, University of Cambridge graduates can still expect high earnings following graduation. Graduates from the University of Cambridge tend to see earnings of £42,680 five years after graduation.
5. University College London
Average salary, 5 years after graduation: £40,852
University College London rounds off the top five. Students from the London university earn £40,852 on average five years after their graduation.
6. Cranfield University
Average salary, 5 years after graduation: £38,778
Bedford-based Cranfield University takes the next spot on our list. Graduates from this university just miss out on achieving £40,000 five years after graduation, earning £38,778 on average.
7. Durham University
Average salary, 5 years after graduation: £38,686
Durham University clinches the seventh spot, with the university’s graduates earning £38,686 on average five years after graduation.
8. London School of Economics
Average salary, 5 years after graduation: £37,470
London-based university LSE specialises in the social sciences and comes in eighth, with grads earning an average of £37,470 five years after graduation.
9. King’s College London
Average salary, 5 years after graduation: £37,025
Russell Group university King’s College has increased it’s standing this year, rising from 11th position to 9th. Graduates from King’s College London earn £37,025 on average five years after graduating.
10. University of Newcastle
Average salary, 5 years after graduation: £36,975
Earning £36,975 on average five years after graduation, the University of Newcastle graduates earn the tenth-highest salary out of any university.
11. SOAS, University of London
Average salary, 5 years after graduation: £36,603
SOAS stands for the School of Oriental and African Studies and unsurprisingly studies at this university focus on these areas (as well as the Middle East). SOAS grads earn £36,603 on average five years after graduating.
12. Queen’s University Belfast
Average salary, 5 years after graduation: £36,392
Based in Northern Ireland, Queen’s also belongs to the prestigious Russell Group. On average, those attending Queen’s earn £36,392 five years after graduation.
13. University of Edinburgh
Average salary, 5 years after graduation: £36,291
The University of Edinburgh graduates also fare well five years after graduation. On average, graduates from the Scottish university earn £36,291 five years after the completion of their studies.
14. University of Warwick
Average salary, 5 years after graduation: £35,790
With average earnings five years after graduation reaching £35,790, University of Warwick graduates are the 14th highest earners, rising two places from last year’s ranking.
15. University of Manchester
Average salary, 5 years after graduation: £35,686
Earning £35,686 on average five years after graduating, University of Manchester graduates take the 15th spot on the list of highest-earning grads.
16. University of Bath
Average salary, 5 years after graduation: £35,577
Students from the University of Bath can expect to see earnings of £35,577 five years after graduating, making them the 16th highest-earning graduates nationally. This is three spots lower than a year ago.
17. Loughborough University
Average salary, 5 years after graduation: £35,224
Known for it’s strong sporting traditions, Loughborough University features seventeenth on our ranking, with students earning an average of £35,224 five years after graduating.
18. Kingston University
Average salary, 5 years after graduation: £34,674
Another London-based institution makes our list. Graduates from Kingston take home an average of £34,674 five years after finishing their studies, according to our data.
19. University of Strathclyde
Average salary, 5 years after graduation: £34,672
Glasgow-based University of Strathclyde takes the next spot on the list. With average earnings sitting at £34,672 five years after graduation, graduates from the University of Strathclyde earn higher salaries than grads from the University of Glasgow.
20. University of St Andrews
Average salary, 5 years after graduation: £34,635
St Andrews graduates just manage to sneak into the top 20 highest earning grads. Those who attend the university can expect to see earnings of £34,635 five years after completing their studies. It’s also famously the university where Prince William met Kate Middleton, now the Princess of Wales!
So, there are the universities with the highest-earning graduates, but which universities have the lowest salary expectations following graduation?
1. University College Birmingham
Average salary, 5 years after graduation: £22,694
Based in the buzzing West Midlands city centre, grads of University College Birmingham take home the smallest pay packets after five years, with earnings averaging just £22,694.
2. Aberystwyth University
Average salary, 5 years after graduation: £24,701
On average, graduates from Aberystwyth University earn the second lowest out of all universities. Graduates from the Welsh university tend to earn £24,701 five years after graduation, which is less than half of the earnings of Bayes Business graduates.
=4. Bath Spa University
Average salary, 5 years after graduation: £24,837
Graduates from Bath Spa University earn slightly more than those from Aberystwyth. On average, those who graduate from Bath Spa University can expect to see earnings of £24,837 half a decade after completing university.
=4. University of Winchester
Average salary, 5 years after graduation: £24,837
The University of Winchester also features towards the bottom of the list. Graduates earn £24,837 on average five years after completing their university studies.
5. London Southbank University
Average salary, 5 years after graduation: £25,366
London Southbank University also features in the list of lowest-earning graduates. Five years after completing their studies, graduates from this university generally earn £25,366.
It is interesting to see that the majority of the universities towards the top of the list are Russell Group. This suggests that the so-called ‘prestigious’ universities still tend to lead to a significantly higher pay packet. London-based universities frequently feature towards the top of the list, meaning that the university status and location can make all the difference when it comes to graduate earning potential.
Read more: The top 10 most valuable degrees
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