Is College Worth the Investment?

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Wednesday, May 18th, 2011 | Posted by Lucy Pitt
Half Of Graduates Unemployed Or Underpaid


UK – A new study has found that half of all new graduates are either unemployed or in underpaid work six months after graduating.

A survey by The Centre for Economics and Business Research (CEBR) found that 52% of the 15,655 people who left university last year had not found jobs or been forced to undertake menial work.

Around 59,000 (20%) of graduates had not had a job this year, the highest percentage in a decade and twice as many as at the beginning of the recession in 2008.

The study found that those who graduated in historical and philosophical studies, law, and language were the most likely to end up in underpaid employment. Those who graduated in medicine and dentistry fared best, with just 0.1% unable to find gainful employment.

In the report, compiled for the Association of Accounting Technicians (ATT), the CEBR said the education system was ‘letting a lot of people down.’

Head of ATT, Jane Scott Paul, commented that if the government was asking students to pay £9000 a year in tuition fees they should be entitled to expect a ‘credible return’ on their investment. She went on to say that over 50% of graduates were ‘nowhere near’ benefiting from their degree and that the situation was worsening.

A spokesperson for the CEBR said they expect 55% of all 2011 graduates to be unemployed or under-employed six months after leaving university.

Teenagers are being advised by some commentators that they may be better off skipping higher education and entering into the world of work earlier. Teens are also being urged to carefully consider whether attending university is worth the investment.

http://www.pabnews.com/9365/half-of-grad...underpaid/