Which Degree Is The Most Lucrative In 2016
Choosing your degree in university can be a tough decision for many students especially those painfully conscious about the sizable investment they are making in the process. You can no longer just follow your inclinations. You need to consider how much you will earn when you graduate; that is, provided you can get a job right out of the starting gate. Knowing available job openings, career and internship opportunities, and average salaries can help you make a decision when the time comes.
As expected, degrees in the fields of engineering, science, technology, and math continue to garner the greatest demands for entry-level positions in the UK. However, those in the fields of management, marketing, and financing can also expect a good future as the UK emerges from the economic crisis. Here are the highest earning degrees for 2016.
Mechanical engineers play key roles in such crucial industries as automotive, manufacturing, aerospace, and defence. A significant factor in this course as one of the highest earning careers is that big and small industries have a need for mechanical engineer. The manufacturing sector, in particular, is picking up in all parts of the UK. Henc, not only do new graduates have more options for employment, they can choose where they want to work. Even if they do not actually get the highest salaries compared to specialist counterparts, they get top billing on the flexibility of career opportunities and high demand. The average salary a new graduate can expect is between £39,106 and £34,799.
Running a close second because of its higher salary brackets, there is also a high demand for civil engineers due to the boom in the construction industry. Public infrastructure and private buildings are going up in and around London. Civil engineers are also key players in environmental and surveying work, so there is no fear of the demand drying up in the next few decades. However, civil engineers are usually for big projects, which may limit their employment choices in terms of location. A civil engineering graduate will have an average salary of £44,851 and £36,142.
Business management and accounting
Business management or accounting graduates start at the low rung in the pay scale ladder at an average of £19,974 a year. However, the advantage is in the constant and growing demand for new blood, and their attendant progress as they get more experience and pursue graduate degrees. A management trainee that shows aptitude can rapidly go up the ranks. With a few years' experience, the base pay can climb up to an average of £32,719, depending on the company, the career path, and the achieved management level.
An MBA holder, which is the natural progression of a promising young executive, can expect to receive an average of £46,561 a year plus performance bonuses as a marketing manager. An accounting graduate that rises to a management position in finance can make even more, with an average of £52,081. A sales manager, on the other hand, can make a base salary of £45,613.
In terms of future earnings, people with business or accounting degrees will always be on the upper echelons of employment success.
Computer engineering or programming
Another top contender because of breadth and depth of demand are information technology graduates.
All industries have IT needs, and some infinitely more than others do. Computer-related degrees are a good idea for any college student anywhere, including the UK. The average pay scale ranges from a low of £18,404 to a high of £45,861 for a computer programmer, while a software engineer may fare slightly better with an average starting salary of £23,059, rapidly progressing to £50,964 after a few years. However, computer-related jobs are highly volatile, requiring continuing education and keeping up with all the latest developments. Just like super models, one day you could be in, and the next day you are obsolete.
The degree you take in university can set you up for a promising and lucrative career. However, your progress from entry-level salaries to top positions where the real money is will depend on your own initiative and postgraduate pursuits.