'Wage premium' of a degree falls by a third under university boom

By Graeme Paton. The value of a degree has slumped by almost a third in the last 20 years because of a sharp rise in the number of people taking university courses, according to research. Figures show that the "wage premium" exercised by graduates – compared with those only qualified to A-level standard – has fallen by 29 per cent since the early 90s. Ministers have repeatedly claimed that an undergraduate degree can add more than £100,000 to average earnings over a lifetime. But Malcolm Brynin, from Essex University’s Institute for Social and Economic Research, found that the advantage is on the decline as employers routinely demand degrees even for relatively low-skilled occupations. Read more...