Graduate jobs worthwhile for career earnings

New research published by the Centre for economic performance at London's School of Economics found a significant difference in career earnings of those educated at the UK's top Universities, with the minimum difference being £35000.

This will be welcome news to a group otherwise fighting in an down turned economy with poor prospects of getting on the housing ladder with initial salaries in graduate jobs.  Only 10 years ago the advice that a mortgage should be no more than 3.5 times your salary.  With most graduate jobs having salaries between £17000 and £25000,  and, for example, average house prices in London ranging upwards from £175 000, there's little hope of many getting anywhere near a house safely.

Some mortgage lenders are trying to get around this for people in graduate jobs on the assumption that salaries will rise sharply in these jobs so offering a mortgage starting low but stepping up over 6 years.  Unfortunately this too may have problems, with inflation low, pay rises are not a 'given' and could leave people in graduate jobs struggling as their mortgage rises over the years.

Whilst the news that their degree has certainly helped their career earnings, some may not be seeing the good that lies in the future whilst covered in the current economic cloud.