Average graduate salaries in the UK 2023
When it comes to choosing your degree, should you follow your heart or the money? Our guide to average graduate starting salaries can help you make the call...
There are many factors that affect how big your graduate starting salary will be. The four biggies are: the employer, the industry, the location, and job market competition.
If you're a recent graduate looking for work, employers increasingly want to know how much you think you're worth. It's a common question during job interviews, so it's best to be prepared with an answer. This guide will give you the ballpark figures for degree subjects so you don't sell yourself short.
Average graduate salary for degrees:
Graduate salaries in 2023
The current average graduate salary in the UK is just over £24,000*, according to the Graduate Outcomes report by HESA (Higher Education Statistics Agency).
However, we've heard folk reporting everything between £16,000 and £90,000.
As you'd expect (and as we'll cover in more detail below), the lower end of this scale is representative of graduate salaries in professions like Journalism and the Arts. Meanwhile, you're more likely to find graduate salaries at the top end of this scale in areas like Banking or Computer Science.
Ultimately, the average figure is just that: an average. Depending on the subject you study, the industry you want to work in, plus a whole range of other factors, you could end up earning significantly higher or lower than the average.
Average graduate salaries in each industry
Art (creative, visual and performance)
As you probably already know if you're interested in the field, the graduate job market for art students isn't the most flush with cash.
For those wanting to get into Creative Arts (design, music, and performing or visual arts), salaries vary vastly. But keep in mind that the industry you work in could make a considerable difference.
A typical starting salary for a curatorial position (e.g. Assistant Curator) is usually between £18,000 – £25,000. But, there's the potential to earn upwards of £40,000 later in your career if and when you progress to a more senior position.
Going for a career in the digital arts has the potential to offer you a higher salary. With everything shifting online, graphic and digital designers are pretty high in demand these days.
This means that, although a graduate salary could start between £15,000 – £19,000, it can rise to £27,000 once you've got a bit of experience. Later on in your career, you could expect to earn between £35,000 – £60,000 a year depending on your role.
Banking and Accountancy
Salaries for Accountancy vary considerably depending on location, size of company and specialisation.
Graduates becoming Chartered Accountants can expect a starting salary of up to £40,000. However, graduates have reported earning anything between £17,000 and £50,000 in their first job.
Those who enter Banking (unsurprisingly) get the big bucks, with the average graduate salary in Operational Investment Banking often sitting in the £25,000 – £50,000 range. This can quickly rise, with many Operational Investment Bankers earning well over £100,000 a year plus bonuses.
Business, Marketing and Management
Business and Management degrees can open up doors to some seriously well-paid careers in Accountancy or Investment Banking. You've also got options in Marketing, Media, Human Resources (HR) and Retail Management.
A starting salary in Retail Management will likely be in the range of £17,000 – £23,000, but some graduate training schemes pay handsomely for impressive candidates.
Budget supermarket chain Aldi is a go-to for its Area Manager grad scheme, which pays £44,000 in the first year. If that doesn't quite do it for you, they'll throw in a car, too.
A career in HR will see you start on something between £18,000 – £23,000 (rising rapidly with more experience and qualifications). On the other hand, Digital Marketers can expect a starting salary between £18,000 – £22,000, again increasing substantially with experience.
Your career path will depend on what you specialise in, but IT industries are on the up. They offer heaps of choice: programming, front- and back-end development, systems analysis, web design, UX design, online security, games and apps. The list really is endless.
Starting salaries vary a lot for this type of work as the roles are so varied, but typically, they'll be around £25,000. It's worth mentioning that despite this average, graduates have reported receiving anything from £17,000 – £70,000 in IT roles.
There are tonnes of ways to get into teaching right now, many of which are generously funded.
Currently, the starting salary for qualified teachers in England (outside of London) is up to £38,810, depending on where you live. In Scotland, you'll start on £28,113 in your probation year. Newly qualified teachers start on a £28,866 salary in Wales. In Northern Ireland, you'll be looking at £24,137.
While the Graduate Recruitment Bureau puts the average salary for an Engineering graduate at £27,500, subject specialism can make a difference to your salary.
As we outline below, graduates of Chemical Engineering earn an average of £30,000 in their first job, while Civil Engineers nab an average starting salary of £27,700.
Humanities degrees are fairly flexible when it comes to job hunting. On the one hand, you may not be sure quite what you're going to do when you graduate. On the other, having a bank of transferable skills means that Media, Marketing, Teaching and other industries are great options too.
The average graduate salary in Publishing and Journalism can be anywhere from £15,000 – £26,000. You're typically expected to start at the bottom and work your way through the ranks.
Unpaid internships are sadly common in writing roles (although it's definitely possible to make money writing), but postgrad or in-house training could help you bag a better starting position. There's a possibility to make money freelancing, too, especially in writing and editing. Check out National Union of Journalists to get an idea of rates.
The bottom rung in Film and Television work is as a Runner. According to BECTU, the UK's media union, the recommended pay (if you get any, that is) is £10.85 – £15.23 per hour (excluding Holiday Pay). Sadly, as competition is so fierce, there's little chance of your pay increasing.
You might think of Law as a quick win for your pay packet, but the reality is that starting salaries vary massively.
The Law Society recommends that Trainee Solicitors be paid at least £21,024 (£23,703 in London), but note that isn't an enforceable rule. However, depending on the role and the company, you could earn much more in your first job – up to £50,000 in some cases.
As for Pupil Barristers? The Bar Standards Board says that you must be paid at least £17,152 (£19,144 in London) for a full 12-month pupillage in England and Wales. However, some can pay as much as £50,000 or more, depending on who you work for.
Trainee Clinical Scientists typically start on band 6 of the NHS' pay scale, which equates to £33,706 a year.
Podiatrists, meanwhile, enter on band 5, where the salary for those with less than two years of experience is £27,055.
Medicine and Nursing
If you think Medicine is always the fast track to a fat wallet, you may be in for a shock: starting salaries are often no greater than for Humanities careers. However, you'll likely be able to earn more money in less time, plus have access to better leave, sick pay and other job benefits.
The big money comes in when you start specialising. Either way, the further training required can be hard-going and only worth it if you're prepared to stick with it for the long haul.
Graduates going into Adult Nursing start at band 5 on the NHS pay scale, giving them a starting salary of £27,055.
Junior doctors in their first year of postgrad foundation training earn a minimum of £29,384 (boosted to £34,012 by Foundation Year 2). Once you've started training for a speciality, you can earn between £40,257 – £53,398.
Newly qualified Dentists can expect to earn around £35,000 a year, while in Veterinary Medicine the average starting salary ranges from £30,000 – £35,000.
Graduate salary by degree
Below is a list detailing the average salaries of graduates, regardless of which industry they ended up in.
Don't forget that your earnings will increase with experience. It also depends a lot on what career path you take. Make the most of your degree and scope out further training requirements and grad schemes early on.
|Subject||Graduate starting salary|
|Accounting and Finance||£25,000|
|Aeronautical and Aerospace Engineering||£28,000|
|African and Middle Eastern Studies||£29,000|
|Agriculture and Forestry||£23,000|
|Art and Design||£21,800|
|Business and Management Studies||£25,400|
|Childhood and Youth Studies||£21,000|
|Communication and Media Studies||£21,500|
|Counselling, Psychotherapy and Occupational Therapy||£24,900|
|Drama, Dance and Cinematics||£22,000|
|Electrical and Electronic Engineering||£28,000|
|Geography and Environmental Science||£24,500|
|History of Art, Architecture and Design||£23,000|
|Hospitality and catering||£23,500|
|Human Resources Management||£24,000|
|Information Technology and Systems||£25,000|
|Land and Property Management||£25,400|
|Manufacturing and Production Engineering||£28,000|
|Medical Technology and Bioengineering||£25,000|
|Optometry, Ophthalmics and Orthoptics||£17,000|
|Pharmacology and Pharmacy||£31,000|
|Physics and Astronomy||£28,000|
|Prosthetics and Orthotics||£25,000|
|Russian and East European Languages||£25,000|
|Speech and Language Therapy||£24,900|
|Theology and Religious Studies||£24,400|
|Tourism, Transport, Travel and Heritage Studies||£22,000|
|Town and Country Planning and Landscape Design||£25,000|
Copyright Complete University Guide © 2022
How to choose a career
It's true that some degree disciplines lead to big money faster than others. But, don't get too hung up on it.
There's no point in earning £40,000 a year if it means you end up savouring loo breaks as an escape from the mindless monotony. Choose something that you're passionate about (or at least vaguely enjoy) and you'll be more likely to stick at it, work harder, and be open to new opportunities. There are tons of routes to a healthy salary.
Don't judge your future career (or any of your choices, for that matter!) on money alone. Success could be owning your own business, travelling the world or anything in between. Keep your eyes on the prize, not just the paycheque, and you'll find the right route for you. Good luck!
Can't wait to start earning the big bucks? Check out the best-paid part-time jobs for students and make some serious cash.
* Based on data from HESA, reported by Luminate.
** This data represents average figures collated from multiple sources, including HESA, Graduate Recruitment Bureau, Prospects, NHS careers, All About Law, Bar Standards Board, Complete University Guide, National Careers Service, Office for National Statistics, CV Library and our own surveys.