You step on the threshold to monetary success when you receive your first salary from your first job! That feeling in itself is beyond wordly expression. Your graduate salary is going to be that first salary for you. So make sure you’ve chosen the right graduate job best suiting your interests! Researching the average graduate salaries in the UK is key to understanding which graduate jobs rewards you the most. To help you with this research, we have a complete guide on the graduate salaries in the UK for you.
What Is A Good Starting Salary In The UK?
According to HESA’s Graduate Outcome’s Data Report, the average graduate starting salary in the UK is £24,217. However, it largely varies based on the sector and industry you’re working in. While sectors like Investment banking and Consulting pay the highest graduate salaries in the UK, Sectors like Education & Teaching, Travel & Hospitality pay you lower starting salaries. If you’re looking for the best paying industries in the UK, take a look at the chart below.
Source: Statista
Even if your graduate starting salary is less, you do not have to worry. If your starting salary is say £24,217 per year, it means you’re getting an amount of over £90 per day which is not bad for starters. You could save up the amount and start paying off your student loans!
If you’re looking for graduate schemes, make sure you read about how to apply for a graduate training scheme before you proceed.
Expected Graduate Salaries In Various Industries
Here below is the list of the typical graduate salaries in the UK you can expect from different industries.
Arts
The graduate job market for art students isn’t as great as other industries but that does not mean you get discouraged, Graduate salaries in the UK for art students are usually a little lower at the starting stages and are valued at an amount of £18,000. But with experience you may have the potential to earn upto £43,000. The digital arts sector however, comparatively pays higher graduate salaries in the UK. With everything shifting online, graphic and digital designers are pretty high in demand these days.
Banking & Accountancy
Banking & Accountancy fall under the ‘Investment Banking’ sector and the chart above shows how well paid and awarding this industry is. Graduates becoming Chartered Accountants can expect a starting salary of £30,000. The ones in the Investment Banking sector get big money and can earn upto £50,000 a year even as their first graduate salaries in the UK. There is a high possibility that with experience, they can make up to £1,00,000 a year plus bonuses.
Computer Science
IT industries are on the top for rewarding high starting salaries. These industries offer programmes such as programming, front- and back-end development, systems analysis, web design, UX design, online security, games and apps and many more! You starting salary can begin with an amount as low as $ 17,000 or could be an amount as good as $ 70,000. It depends on your roles, responsibilities, and many other factors.
Law
Law salaries even though have had a record of being one of the highest graduate salaries in the UK, there’s a high possibility that this could vary. It is recommended by The Law Society that trainee solicitors are paid a minimum amount of £19,992. However, depending on the role and the company you’re in, you could earn an amount up to even £ 50,000 per year.
Medicine & Nursing
Medicine is a field which pays highly once you start specializing in something. But until then, even during your initial training period, you can earn either little amounts or more based on what you’re doing. The prices below will give you a fair idea about how graduates in this field are paid. Graduates entering:
Adult Nursing: £24,907
Junior doctors: £28,243
Dentistry: £30,000
Veterinary Medicine: £30,000 – £35,000
Graduate Salaries In The UK Of The Alumni
A recent research done by the Emolument shows that the highest paid UK alumni & graduates are Financial Services professionals at $107,000 annually. The lowest paid UK alumni & graduates are Services, Tourism & Hospitality professionals at $31,000 as shown in this table.
| Activity | Average Salary |
| Financial Services | $107,000 |
| Executive Management & Change | $94,000 |
| Legal Department | $83,000 |
| Security Services | $77,000 |
| Finance Control & Strategy | $76,000 |
| Legal & Paralegal | $75,000 |
From the above table, one can infer that those who were students once upon a time and were looking for good graduate jobs with good graduate salaries once upon a time, are performing very well now in many fields. So, all you need to do is to find out how well you can fit into a job so that you give your best performance and make a good salary for yourself. When you’re looking for ways to find a job after college, make sure you get in touch with the college alumni via your university’s career services. That’ll help you find a suitable mentor who can guide you through this process.
FAQs
1. What is the median salary in the UK?
According to HESA’s Graduate Outcomes Data Report, the average graduate base salary in the UK is £24,217. However, it greatly varies depending on the sector and industry in which you work. While sectors such as investment banking and consultancy services pay the highest graduate salaries in the UK, sectors such as education and teaching, travel and hospitality pay lower starting salaries.
2. What is the average salary in the UK after a master’s?
No matter what your plans are, having a master’s degree is something to be proud of. However, it also requires significant time, effort, and financial investment from the majority of students. Masters degree holders appear to be more employable graduates. Five years after graduation, master’s degree holders make £5,400 more annually than first-degree holders. Three years after graduation, the average salary for a master’s degree holder is £30,300.
3. What is a good graduate salary in the UK?
The Graduate Outcomes survey, created by the Higher Education Statistics Agency, is one of the best sources of employment information for graduate students in the UK. According to HESA’S graduate outcome data reports, a good graduate salary in the UK is £24,291.
4. What is a decent salary in the UK?
In the UK, according to the Institute of Student Employers (ISE), a net monthly salary of between £2,500 and £3,000 is regarded as a decent salary. This is equivalent to a gross annual salary of more than £40,000. Everyone who makes between £3,300 and £4,000 gross each month is considered to be well-off.
We hope you enjoyed reading this blog on Graduate Salaries In The UK. If you wish to read more about the UK, here are some blogs that we think you will enjoy reading –
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I have done Bachelor’s in Culinary Arts from India and completed my graduation in the year 2022 .I am 22 years old. After graduation, I have done 1 year paid internship from USA .Now, I would like to take occupational experience and learn culinary skills and also do masters in Culinary arts.How can I find the college n best course / country where I can persue studying further