Longitudinal data again shows high value of a degree

Figures published today by the Higher Education Statistics Agency (HESA) again underline the long term value of a degree, with less than 3% of graduates unemployed three and half years after graduation and a rising graduate salary profile.

This follows on from earlier graduate employment figures from HESA back in June illustrating UWE’s own strong employment performance just 6 months after graduation.

The HESA data is an extremely important source for policy makers and professional bodies as we consider the best options and pathways for our young people, in order for them to maximise their potential and boost economic growth in the UK – where an additional 2 million jobs will require higher level skills by 2022.

The contribution our students and graduates have is clearly more than economic, but it is pleasing to see this more longitudinal measure of success.

Graduates are key to a global knowledge economy

The CIPD report published this week, Over-qualification and skills mismatch in the graduate labour market, is extremely shortsighted and dangerous in its assumptions.

If the UK is to build a strong economic future around a knowledge based high tech economy it will require an increasing number of highly skilled graduates and technicians. The CBI in their report Better off Britain forecasted that by 2022 half of all jobs will require workers to have completed some form of higher education at Level 4 or above.

We see regular warnings of skills shortages across the different sectors of our economy. For example, the Perkins Review, in reference to the Royal Academy of Engineering’s report on “Jobs and Growth”, forecasted that between 2012 and 2020, the UK economy will require over 100,000 new professional scientists, engineers and technologists each year. A large number of these will need to be graduates from higher education, yet as a sector we produce nowhere near this figure.

The CIPD survey itself is based on old data – the European Social Survey of 2010. But UK higher education has changed significantly since then – both in terms of the programmes on offer and the opportunities available to students. In my view, it is critical that we base such important claims, as made in the CIPD report, on much more relevant data and that we understand the limitations of the sources we use. The Higher Education Statistics Agency for example, with their 443,110 graduate sample and use of Office of National Statistics classification of professional jobs, provides a much more reliable basis for assessing graduate performance.  But even then we have to recognise this is limited to measuring the jobs of graduates just 6 months out of university.

Clearly universities need to support students to match their career aspirations to both current and future jobs opportunities. Many universities are working very closely with employers to ensure this is achieved and that we are preparing students for a successful future – whether through programmes co-designed with employers, project and placement work, internships, guest lectures from industry professionals or the use of virtual learning environments.

Many of our graduates are going on to fulfil the professional roles that shape our lives and those of our families, such as teachers, healthcare practitioners, nurses, social workers, lawyers, engineers, architects, planners, accountants and business professionals, computer analysts and creative industry professionals. Others become the entrepreneurs and innovators that our economy badly needs.

During an economic downturn I do recognise that graduates may well be in jobs that are classified as ‘non-graduate’. But it is still graduates who are being employed in preference to non-graduates. This is because employers recognise that graduates offer more potential.

Surely we want our young people to be the best they can? Let’s not put them off by headlines based old data and by focusing on narrow definitions of graduate employment. We have to look to their medium and long-term futures and their ability to adapt and thrive in a fast changing global knowledge based economy. Whilst the value of a degree is a hugely important topic to be discussed and debated (see blog post November 2013), the misleading focus on immediate outcomes is far too simplistic and does not lead to the policy options we need to increase our competitiveness as a country.

I’m afraid the idea of limiting the number of graduates when the rest of the developing world is expanding is a completely ridiculous argument. How far behind do we want the UK to fall in the global knowledge economy?

100% Student Satisfaction

Fifteen UWE Bristol programmes have performed outstandingly in the National Student Survey 2015, achieving the maximum possible score. A further 29 have scored exceptionally high at above 90%.

Feedback from our students is hugely important to us and helps shape the real world learning opportunities that we provide. Student feedback, alongside working with employers and professional bodies, ensures that the design of our programmes, opportunities and ways of learning are truly engaging and really prepare our students to thrive in the global knowledge economy.

Having our students rate their experience so highly is an excellent achievement and a real credit to these programme teams. It reflects the energy, commitment and innovation that they have applied to make their programmes truly outstanding. Congratulations to all those involved. Those scoring the full 100% are:

  • Art and Visual Culture
  • Business and Human Resource Management
  • Marketing Communications
  • Architecture and Planning
  • Creative Product Design
  • Product Design Technology
  • Information Technology Management for Business
  • Civil and Environmental Engineering
  • Climate Change and Energy Management
  • Mathematics
  • Aerospace Engineering (Design)
  • Diagnostic Imaging
  • International Relations
  • Politics
  • Public and Environmental Health

It is fantastic that the best practice across these programmes has been recognised by our students.