More than 150,000 graduates a year are struggling to reach the median full-time worker's salary of £35,000 five years after leaving university, according to new findings that have reignited the debate over the value of a degree. The data, reported by the Daily Mail, shows half of all graduates earn below the national average — a stark reality for students leaving with more than £50,000 in debt.
Now bosses from 18 major businesses and organisations — including the NHS, Lloyds Banking Group, and Network Rail — have written an open letter urging young people to consider apprenticeships instead, claiming technical training is the safest route to a secure career. The warning comes as more than a million 16- to 24-year-olds are classified as NEETs — not in education, employment, or training — the highest figure in a decade.
“Half of UK graduates earn below the average £35k salary five years on, prompting bosses to push apprenticeships over university.”
John Banks, from Lloyds Banking Group, said: “Every day we see the positive impact technical education has on young people starting their careers. Pathways like apprenticeships and T-levels don’t just open doors — they help young people discover what they’re good at.”
The intervention follows a Policy Exchange study revealing that more than a quarter of graduates in some subjects earn less than the living wage five years after graduating. Shadow Education Secretary Laura Trott called the system “unfair and demoralising”, adding: “Many graduates do exactly what they were told would secure a better future, only to find themselves burdened with debts for qualifications that do not provide the opportunities they were promised.”