Cambridge University grads among highest-paid in Europe
PUBLISHED: 11:45 22 August 2016 | UPDATED: 12:00 22 August 2016
But UK university degrees fail on return-to-investment.
Cambridge University and Judge Business School graduates are the 14th highest-paid graduates of all European Universities.
With a median salary of £82,000, the Cambridge graduates were joined with Oxford University & Said Business School grads and Bristol University grads as the third highest-paid grads in the UK.
London School of Economics grads came in at tenth and London Business School grads reached 5th, with an average salary of £102,000.
The report, which was published by salary-benchmarking site Emolument.com analysed 5,622 alumni with 5-10 years’ professional experience.
Swiss universities bagged the top four spots and French institutes took the rest of the top ten.
The report concluded that ‘90% of respondents from French universities held a Master’s degree compared to only 50% from Oxford or Cambridge which could explain how they can demand high pay right from the start of their career.’
The study also highlighted the fact that the pay gap disappears when the cost of living in calculated, which accounts for the 40% increase in cost of living for Swiss graduates when compared to the UK.
Although the UK lost out on return to investment after the degree price hikes to £9,000 per year. Top paying university St Gallen in Switzerland costs just £2,000 per year for tuition, with graduates going on to earn an average £160,000 per year.
Alice Leguay, Co-Founder & COO at Emolument.com said: “The question of return on investment is at the forefront of most students’ mind when they look to enroll on a course. Being mindful that Masters’ fees tend to be higher than Bachelor’s, they clearly drive high pay levels upon graduation.
“Some universities also see a high proportion of their students start their careers in the high paying financial sector, which a clear aim: pay off their debts and polish off their formal education with hands on experience before moving to other horizons.”
Emolument.com reports that Cambridge University & Judge Business School alumni & graduates earn annually an average salary of $85,481. The average Cambridge University & Judge Business School bonus is $6,575.
Of the graduates that submitted data for the report the highest paid alumni & graduates from Cambridge University work in Legal Department at $181,483 annually, and by degree the highest earners are those who studied an MBA. The lowest paid Cambridge University & Judge Business School alumni & graduates are the ones working in Support Functions & Translation at $32,220.
The website states that most Cambridge University & Judge Business School alumni & graduates who submitted figures for their research work in London with an average salary of $118,814. The ones getting paid the most work in New York with an average salary of $203,722.