Which University Degrees Pay Off Most Over a Lifetime?

Although a university degree is widely understood to lead to better earnings over a lifetime, new research suggests it can vary significantly depending on which course you do.

The Institute for Fiscal Studies (IFS) has released a look‑up tool that lets you compare the lifetime earnings of graduates in any subject against those without a degree. On average, medicine graduates can earn up to £400,000 more over their careers compared with non‑graduates.

Economics also offers significant financial gains, yet subjects such as creative arts, philosophy and languages may produce little or even negative returns for graduates when compared to peers without a degree.

The Department for Education (DfE) says it will cap numbers on courses with the poorest returns and will consult on minimum English language requirements for student finance. A consultation will begin in the autumn to examine these options.

The study found that the average graduate earned about £100,000 more over their lifetime than non‑graduates, even after taxes and student loan repayments. However, a quarter of graduates are likely to be financially worse off over their lifetimes, especially one in ten male graduates who could be more than £90,000 poorer. For those who had low GCSE grades, university can still raise lifetime take‑home pay by around £53,000, but about four in ten graduates with low prior attainment can expect to be worse off.

"Going to university and getting a degree is one of the most transformational things a young person can do, but it is not a universal guarantee of success," said Jacqui Smith, Minister for Skills, stressing that prospective students should choose carefully. "Too many franchised and poor‑quality courses do not offer a good deal to young people, selling the dream before leaving students in the lurch," she added.

Nick Harrison, chief executive of the Sutton Trust, noted that while postgraduate degrees do not always guarantee financial success, they remain the most reliable route to upward mobility, particularly for those from lower‑income backgrounds. He warned that the report raises an uncomfortable question about what young people should pursue if university is not a guarantee of better pay.

Vivienne Stern, chief executive of Universities UK, argued that some subjects, such as the arts, are not motivated by money but contribute to the creative industries, which are a huge economic driver for the UK. In an age of AI, understanding human thought and behavior will become even more valuable.

For a visual breakdown of the data, see the interactive chart below.