Which university degrees pay the most — a new IFS study

Thu Jun 25 2026 12:40:42 GMT+0000 (Coordinated Universal Time)

An IFS report shows how different UK degrees impact lifetime earnings, revealing medicine tops but creative fields lag.

The Institute for Fiscal Studies has released a new analysis of lifetime earnings for UK undergraduates. Medicine graduates can earn up to £400k more, while subjects such as philosophy or creative arts offer little or negative returns. The Department of Education plans to limit low‑return courses and may introduce minimum English language requirements. The study also finds that around a quarter of graduates end up earning less over their lifetimes, especially those from low‑placement backgrounds. The report highlights the need for better alternative pathways.

Which university degrees pay the most?

A fresh Institute for Fiscal Studies analysis suggests that a bachelor’s degree can boost lifetime earnings, but the benefit varies hugely by subject. Medicine tops the list, promising up to £400,000 more than a non‑degree peer, yet creative arts, philosophy and languages show little or even negative returns.

The report gives a look‑up tool that lets students compare their chosen discipline against the national average. On average, graduates earn about £100,000 more over their lifetimes than people who never studied.

However, the data reveals that roughly 25 % of graduates are financially worse off over a lifetime. One in ten male graduates could be more than £90,000 poorer. Those who come from low GCSE attainment can still be better off, earning on average £53,000 more, but up to 40 % of such graduates may end up earning less.

Head‑on from policy makers

Department of Education officials plan to cap enrolment in courses with poor long‑term returns and are consulting on introducing a minimum English‑language requirement for student finance eligibility.

UK minister for skills Jacqui Smith warned students to “choose carefully” – the degree’s life‑change potential is real, but not guaranteed.

Sutton Trust chief executive Nick Harrison added that university remains “the most reliable route to upward mobility”, but highlighted the shortage of high‑quality alternative routes such as apprenticeships.

Universities UK noted that subjects like the arts drive significant creative‑industry jobs and will only become more valuable with the rise of AI, stressing that a degree’s value isn’t solely financial.