Studying profession-linked degrees more important than ever
– Over half (53%) deem their degree essential to success in their chosen profession
– Law, teaching and healthcare-related degrees regarded as most valuable
– Third of students view the £9,000-a-year fees as over-priced
With universities approaching the deadline to make their final decisions on this year’s student intake, a report released today finds that three-quarters (73%) of professionals believe it’s now more important than ever to choose a vocational degree linked to a profession, such as law or medicine.
The report commissioned by Investec Private Banking show that the types of degree seen as most crucial to success in a given profession are legal, teaching and healthcare. Over seven-in-ten professionals in law (78%), teaching (76%) and healthcare (69%) agree that a degree is essential to success in those professions.
Over 2,000 graduates and high-net-worth professionals were polled to reveal divided opinions as to whether a university degree is seen as a worthwhile investment.
The report also shows negative attitudes towards university fees, with a third of students (34%) viewing the £9,000-a-year fees as over-priced, while less than half (45%) of those currently in work feel that their University degree wasn’t worthwhile versus the cost. However, just over half (55%) believe that a degree pays for itself in the long run.
The results come following UCAS reforms that have widened the choice for prospective students looking to pursue their studies oversees. However, students are currently unable to receive loans or grants for tuition fees or maintenance costs if they intend to study abroad – a factor that may limit the number of students prepared to make the commitment.
The report finds similar attitudes when polling current professionals. Findings show that two thirds (66%) of professionals admit they would consider moving overseas for work, with one-in-three London-based professionals wishing to escape from the capital. It emerges that over a third (38%) have previously lived in a different part of the country for work reasons.
Wayne Preston, head of banking at Investec, said: “Higher education comes at an increasingly high price so it’s encouraging to see graduates and business professionals continue to recognise the value it brings to their careers. As the report shows, students are increasingly willing to invest in their future by taking on a certain level of debt which will provide them with the greatest opportunity for success in their chosen specialism. At Investec we see significant potential in professionals and focus on developing relationships early in their career so they can build strong financial foundations for the future.”
