Government figures have revealed a sharp decline in the economic value of a degree to graduates.
According to figures from the Office for National Statistics, the pay premium that graduates experience over the rest of the UK population declined from 41 per cent in 2004 to 24 per cent in 2017.
The ONS data, published on 1 October, show the latest estimates on what it calls the value of “human capital”. This means the value of the UK workforce to to the country, taking into account skills, knowledge and experience. It calculates how much each individual is expected to earn in their lifetime.
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