We take creative activities very seriously at Beaumont despite the pressures from national curriculum guidance and league tables. We value these for the student development opportunities they offer.
Pleasing to read that recent government figures place the value of the UK creative sector at £84 Billion a year and suggest that 1.9 million people are employed in this sector. We also have record numbers of students successfully taking STEM subjects. In other words we offer a balanced curriculum to a balanced economy.
Not an eye catching headline but it is important that the creative element of our offer is recognised in hard numbers with education finances being stretched and increasingly difficult choices having to be made.
Sunday 31 December 2017
Career Earnings for graduates
There are many good reasons to go to university (and also many not to). The option, if available, deserves considerable thought. Much of this should not consider the financial aspect, but it is unavoidable.
As the number of graduates available for work increase it is to be expected that the differential between graduate and non-graduate earnings will narrow. This does appear to be occurring but at a slower rate than many expected. This is likely to be due to changes in the overall labour market which are increasingly rewarding high-skilled versus low-skilled jobs.
Recent figures suggest that over a career lifetime a female graduate will earn on average £250,000 more than a non-graduate and the figure for a male graduate is £170,000. Given that the average student debt is around £50,000, there does still appear to be a considerable financial advantage.
However, the analysis deals in averages and therefore treats all non-graduates the same in terms of average earnings. Those who take up higher apprenticeships will possess much higher skills than the average non-graduate and these will have been moulded to a specific group of employers' requirements. This is likely to mean that these individuals will command a commensurate premium in the market and will not have the either the burden of student debt or the job insecurity which can surround many new graduates.
It is not therefor surprisingly that many of these high quality apprenticeships are highly sought and competitive not just in terms of academic qualifications but also people skills.
As the number of graduates available for work increase it is to be expected that the differential between graduate and non-graduate earnings will narrow. This does appear to be occurring but at a slower rate than many expected. This is likely to be due to changes in the overall labour market which are increasingly rewarding high-skilled versus low-skilled jobs.
Recent figures suggest that over a career lifetime a female graduate will earn on average £250,000 more than a non-graduate and the figure for a male graduate is £170,000. Given that the average student debt is around £50,000, there does still appear to be a considerable financial advantage.
However, the analysis deals in averages and therefore treats all non-graduates the same in terms of average earnings. Those who take up higher apprenticeships will possess much higher skills than the average non-graduate and these will have been moulded to a specific group of employers' requirements. This is likely to mean that these individuals will command a commensurate premium in the market and will not have the either the burden of student debt or the job insecurity which can surround many new graduates.
It is not therefor surprisingly that many of these high quality apprenticeships are highly sought and competitive not just in terms of academic qualifications but also people skills.
new versus old student loan system
Just read an interesting study of expected loan repayments under the new loan system versus the old (the prior to 2012 system) - source Institute of Fiscal Studies. Perhaps surprisingly given the headline coverage, 40% of students (the lowest future earners) will pay less under the new system than the old, even with the tripling of tuition fees. This is because of the considerably higher threshold for repayment of any amount.
The analysis suggests that the highest future earners will pay back nearly £90, 000 in total, whilst the lowest 35% are expected to pay back less than £20,000.
This raises significant issues about the effectiveness of the new system, but does suggest that concern over future low earnings should not deter students' from attending university with student loan support.
The analysis suggests that the highest future earners will pay back nearly £90, 000 in total, whilst the lowest 35% are expected to pay back less than £20,000.
This raises significant issues about the effectiveness of the new system, but does suggest that concern over future low earnings should not deter students' from attending university with student loan support.
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