Teenagers across the UK are enjoying a summer of freedom after getting the exam results required to secure them a place at university starting in September.
But how well can they expect to earn after completing their chosen degree?
A study using Office of National Statistics data has ranked 20 of the most popular degrees according to the level of salary graduates are likely to be on five years after leaving university.
Unsurprisingly, medicine and dentistry are at the top of the list when it comes to earning potential – with graduates looking forward to earning some £47,300 per annum within five years.
But some unexpected entries lower down on the list include law – which could see graduates taking home a relatively low £25,200 within five years, less than £2,000 more than those who have teaching degrees.
The study carried out by online mortgage service Propillo, which placed creative arts and design degrees at the bottom of its rankings with forecast earnings of £20,000, also reveals the stark contrast in salary depending on graduates’ chosen subjects.
A new survey has revealed the stark contrast between the earnings of graduates with varying degrees five years after graduating
The average UK salary is £27,600 per year.
The study suggests a third of graduates leaving university with one of the 20 most in demand degrees can expect to earn below that figure.
According to the study, the degree with the second highest earning potential is economics, with a median salary of £37,900 five years after graduating.
In third and fourth place were veterinary sciences and maths, with graduates looking at an average salary of £34,900 and £33,100 respectively.
Towards the bottom of the table came psychology graduates in at number 18 with earnings of just £22,600, and at 19 agricultural students who pulled in just £20,500 five years after graduating.
Graduates with medical degrees have the highest earning potential with a projected annual salary of £47,300 five years after leaving university – in contrast to £20,200 for creative arts and design graduates
The findings also aimed to show how your geographical area of birth could affect your earnings later in life.
The study was compiled using data from the Office for National Statistics (ONS), as well as the latest figures from the UK House Price Index (HPI) and graduate earnings one, three, five and 10 years after leaving university.
The figures revealed that it’s bad news if you’re from the North East, as graduates born in this region will earn the lowest average salary of any graduates from across the country.
With the average UK salary of £27,600, this means a third of graduates with the top 20 most popular degrees will earn salaries below the UK average
On average, those from the North East will earn £29,200 ten years after graduating.
In comparison, those from London will earn an additional £6,400 a year, bringing their total annual salary to £35,600, regardless of which university they attended.