Just how much do top universities really boost your earnings?

A new study suggests that family background might be a bigger factor in graduates' success

The financial advantages of studying at a Russell Group university may not be as clear-cut as you thought, a new report suggests.

The prestigious group of 24 universities prides itself on statistics that show graduates earn up to 10 per cent more than those from modern institutions.

Yet Ian Walker, an economics professor at Lancaster University and one of the study’s authors, has explained that when controls relating to A-level achievement and family background are factored in, differences in average graduate earnings are ‘not statistically significant’.

When these are introduced, male Russell Group graduates earn two percent less than those from other universities dated pre-1992, and only three percent more than those from post-1992 institutions.

Walker told Times Higher Education that students from reputed universities earn more not because they studied at a "better teaching institution" but because they are simply "smarter graduates".

Dr Wendy Piatt, director general of the Russell Group, responded: “Trying to control for differences in students’ entry qualifications or background is not particularly meaningful, and incredibly difficult to do with any reasonable accuracy. The report’s authors are quite candid that in this respect their analysis is basic and imperfect.

“Our leading universities are highly selective and we make no apologies for that - we want to admit students with the qualifications, potential and determination to succeed - whatever their background. That’s why there are seven applications for every place across our universities.”  

Overall, the government study finds that the average female with a degree can expect to earn an extra £252,000 over their lifetime, with their male peers £168,000 better off. The biggest earnings premium for both men and women comes from medical and and economics-related subjects, while law, business, maths, engineering, computer science and physical science degrees each provide a boost of at least 20 per cent.

News
The cartoon depicts the UK (far left) walking around a Syrian child refugee
newsIn an exclusive artwork for The Independent, Ali Ferzat attacks Britain's lack of 'humanity'
Life and Style
Man taking selfie in front of car
health
Sport
footballManager attacks Sky Sports pundit Jamie Redknapp after criticism of Diego Costa's apparent stamping
Life and Style
food + drink
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
News
news
Arts and Entertainment
British author Helen Macdonald, pictured with Costa book of the year, 'H is for Hawk'
booksPanel hail Helen Macdonald's 'brilliantly written, muscular prose'
News
i100
Arts and Entertainment
Frozen out: despite being filmed in Iceland, 'Fortitude' is set further north, in the Norwegian archipelago of Svalbard
tvGerard Gilbert considers what's behind our fascination with the last great wilderness
Life and Style
Carmen Khu from The Royal China Club pours a cup of Dai-Hong-Po tea
food + drink
Arts and Entertainment
film
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
iJobs Job Widget
iJobs Student

Ashdown Group: Trainee / Graduate Helpdesk Analyst

£20000 per annum: Ashdown Group: A highly reputable business is looking to rec...

Ashdown Group: Graduate Data Analyst - Essex - £25,000

£23500 - £25000 per annum + Training: Ashdown Group: Graduate Data analyst/Sys...

Recruitment Genius: Graduate Account Manager

£16000 - £30000 per annum: Recruitment Genius: A Graduate Account Manager is r...

Guru Careers: Graduate Account Manager / Sales Executive

£18k + Uncapped Commission (£60k Y1 OTE): Guru Careers: A Graduate Account Man...

Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

Greece elections: In times like these, the EU has far more dangerous adversaries than Syriza

Greece elections

In times like these, the EU has far more dangerous adversaries than Syriza, says Patrick Cockburn
Holocaust Memorial Day: Nazi victims remembered as spectre of prejudice reappears

Holocaust Memorial Day

Nazi victims remembered as spectre of prejudice reappears over Europe
Fortitude and the Arctic attraction: Our fascination with the last great wilderness

Magnetic north

The Arctic has always exerted a pull, from Greek myth to new thriller Fortitude. Gerard Gilbert considers what's behind our fascination with the last great wilderness
Homeless Veterans appeal: Homeless in Wales can find inspiration from Daniel’s story

Homeless Veterans appeal

Homeless in Wales can find inspiration from Daniel’s story
Front National family feud? Marine Le Pen and her relatives clash over French far-right party's response to Paris terror attacks

Front National family feud?

Marine Le Pen and her relatives clash over French far-right party's response to Paris terror attacks
Pot of gold: tasting the world’s most expensive tea

Pot of gold

Tasting the world’s most expensive tea
10 best wildlife-watching experiences: From hen harriers to porpoises

From hen harriers to porpoises: 10 best wildlife-watching experiences

While many of Britain's birds have flown south for the winter, it's still a great time to get outside for a spot of twitching
Nick Easter: 'I don’t want just to hold tackle bags, I want to be out there'

'I don’t want just to hold tackle bags, I want to be out there'

Nick Easter targeting World Cup place after England recall
DSK, Dodo the Pimp, and the Carlton Hotel

The inside track on France's trial of the year

Dominique Strauss-Kahn, Dodo the Pimp, and the Carlton Hotel:
As provocative now as they ever were

Sarah Kane season

Why her plays are as provocative now as when they were written
Murder of Japanese hostage has grim echoes of a killing in Iraq 11 years ago

Murder of Japanese hostage has grim echoes of another killing

Japanese mood was against what was seen as irresponsible trips to a vicious war zone
Syria crisis: Celebrities call on David Cameron to take more refugees as one young mother tells of torture by Assad regime

Celebrities call on David Cameron to take more Syrian refugees

One young mother tells of torture by Assad regime
The enemy within: People who hear voices in their heads are being encouraged to talk back – with promising results

The enemy within

People who hear voices in their heads are being encouraged to talk back
'In Auschwitz you got used to anything'

'In Auschwitz you got used to anything'

Survivors of the Nazi concentration camp remember its horror, 70 years on
Autumn/winter menswear 2015: The uniforms that make up modern life come to the fore

Autumn/winter menswear 2015

The uniforms that make up modern life come to the fore