First class degree worth 12.5 per cent more than a 2:2

Employers
are becoming more selective about applicants’ degrees, with those obtaining
first class qualifications earning up to 12.5 per cent more than those with a
2:2 after just three years’ employment.

Research
by the London School of Economics also shows that those with a 2:1 will earn
six per cent more than employees with a 2:2.

A
worker with a 2:2 earning a £25,000 salary after three years will be
significantly worse off than a first class degree holder, who would earn
£28,125, according to the report.

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Ten
years ago, salaries were 11 per cent higher for staff with a first and 4 per
cent higher for those with a 2:1. The study also shows that graduates from top
universities such as Oxford and Cambridge command greater incomes.

By
Michael Millar