Business schools challenge Oxbridge for graduate earnings
A new study has found business universities rising to the top of graduate earnings salaries, challenging the likes of Oxford and Cambridge
A new study conducted by emolulent.com has found that many business-focused universities are beginning to compete with the traditional powerhouses of education. Emolulent.com, a salary data company, found that many Universities like the London Business School and Warwick Business School are competing with the likes of Oxford when it comes to the earnings of their graduates.
Emolulent.com looked at earning figures of graduates five years on and found that it wasn't Oxford or Cambridge who topped the leading salaries. But it in fact it was the London Business School, where graduates earn on average £69,000 a year. Second place was Oxford, with its graduates earning £54,000, just ahead of the £53,000 earned by graduates from the Warwick Business School five years after graduating.
This shows a stark challenge to the long held belief of Oxford, Cambridge and similar top universities being the way to higher earnings in the future. Also, some have commented that the development shows the demands of the job market, especially with places like London Business School specialising in Postgraduate qualifications.
Emolulent.com found that the subject studied at university also had an impact on future earning potential. As expected, it was the arts and humanities subjects that were particularly noted for lower salaries, with English and Psychology highlighted especially.
Researchers from the salary research company said 'Few people will be surprised that both Oxford and Cambridge University appear high in the "Alumni Rich List," earning an average of £54k and £52k respectively. But what may raise a few eyebrows is that graduates from leading business schools that take up most of the top positions, with London Business School averaging as much as £16,000 per year more than Oxbridge universities.'
The impact of where and what you studied is often underestimated, according to the Sutton Trust's Dr Robert De Vries, who said 'The research shows that where and what you study matters a great deal for your career outcomes. There are large advantages to a degree in the right subject from an elite university – even after accounting for differences in school achievement, social background and degree classification.'
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