According to a new study, Rising Wage Inequality and Postgraduate Education compiled by economist lecturers and researchers Joanne Lindley of The University of Surrey, and Stephen Machin of University College London...
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According to a new study, Rising Wage Inequality and Postgraduate Education compiled by economist lecturers and researchers Joanne Lindley of The University of Surrey, and Stephen Machin of University College London, there are some interesting distinctions to be made between first degree graduate employment and postgraduate.
Students studying postgraduate programmes have more than doubled in the UK since 1996, from 4% to 11% in 2009. There has also been a steady increase in the share of postgraduate employment in the UK, rising from 30% in 1980 to 37% in 2009. Alongside the increase in postgraduate employability there has also been a remarkable increase in the wage gap between classic graduates and postgraduates, rising from 6% in 1996 to 13% in 2009.
The possible reason for growth is due to technological change and advancement across many industries in the UK. These are industries that are more likely to be involved in R&D, innovation, computer usage and investment in computers. This is good news for postgraduates, as their technical skills such as, advanced numeracy, high levels of analysing complex problems, and specialist knowledge or understanding are increasingly required in these areas.
According to the 2010 Labour Force Survey, the top occupations for Masters graduates are: Secondary Education Teachers, Software Professionals, Marketing and Sales Managers, Management Consultants, Actuaries, Economists and Statisticians and Information and Communications Technology Managers. All these roles require the advanced skills that Masters graduates learn at University.
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