Factsheet 5

Salary facts and figures

Did you know that the qualifications you achieve are likely to have a direct effect on how much you earn?

Employers pay most for skills that:

• are specialised
• have required lots of training
• are particularly important to their business
• are in short supply

Employers pay least to:

• unskilled workers
• semi-skilled workers

Employers place a greater value on some qualifications than others and are willing to pay people more as a result. So what can you expect from investing in your own education and training?

A recent study, commissioned by the Department for Education and Skills, shows that:

• Graduates are less likely to be unemployed than non-graduates.
• Graduates had double the average number of promotions at work than non-graduates over the last five years.

There is a lot of competition for jobs today, and if you do not have qualifications, you will find it increasingly difficult to get a job.

People with few or no qualifications are:

• likely to earn less than people with better skills
• less likely to own their own home.

Remember, though, that even graduates do not simply walk into high-paying jobs. Higher education can certainly help, but you will still need to build up experience and work-related skills. Postgraduate and professional qualifications can also help you progress in your career.